Easy to get credit cards

Credit cards make it easy to buy things, pay bills and book travel. They often offer rewards such as cash back, points or miles, which can help you save money. Additionally, having a credit card can be useful for building a good credit score.

Credit card companies usually consider credit scores while deciding whether to approve a credit card application. Credit cards can be either secured or unsecured. Secured credit cards require a deposit of cash, while unsecured ones don’t. You may get approved for a credit card even if you have no credit history or bad credit, but the annual percentage rate (APR) and/or fees may be higher. Depositing enough cash for the deposit is a great way to build up a limited credit history. Unsecured credit cards have better interest rates, rewards programs, and features than secured ones.

Credit Card Approval Requirements

Credit card approval requirements vary by issuer, but there are some common factors that most credit card companies consider when you apply for a card. These include:

  1. Credit score: Your credit score is one of the most important factors that lenders consider when you apply for a credit card. A higher credit score indicates that you have a good credit history and are more likely to make payments on time.
  2. Income: Credit card issuers may ask for proof of income to ensure that you can afford to make payments on your card. The higher your income, the more likely you are to be approved for a credit card.
  3. Employment: Your employment status may be taken into account by some credit card issuers. They may ask for information about your job, such as your job title and how long you have been employed.
  4. Monthly rent or mortgage payment: Some credit card issuers may ask about your monthly housing payment to get an idea of your monthly expenses and your ability to make payments on your card.

In addition to these factors, credit card companies may also perform a hard inquiry of your credit report to learn more about your credit history. This can temporarily lower your credit score by a few points. It’s important to understand the credit card approval requirements of the issuer you are applying to in order to increase your chances of being approved.

What Is the Easiest Credit Card to Be Approved For?

The easiest credit card to get approved for can vary for each person and may depend on factors such as their credit score and other eligibility criteria. The credit cards that are available to you may also depend on whether:

  • You’re a student
  • You have no credit or a thin credit file
  • You have bad or poor credit

If any of those apply to you, there are some types of credit cards that are designed to be easier to obtain. These include credit cards for students, starter credit cards, and secured credit cards.

Student Credit Cards

Student credit cards are designed specifically for students who are enrolled in college or university. These credit cards come with a lower credit limit and fewer features than regular credit cards. Some popular student credit cards in India include SBI Student Plus Advantage Card, HDFC Bank ISIC Student ID Card, and ICICI Bank Student Travel Card. These cards offer rewards, discounts, and cashback on purchases made at partner outlets. To apply for a student credit card, you usually need to provide proof of enrollment in a recognized educational institution and proof of income, if any.

Starter Credit Cards

Starter credit cards are also known as entry-level credit cards. These cards are designed for individuals who have no credit history or a limited credit history. Here are some examples of starter credit cards that are relatively easy to get approved for:

  1. ICICI Bank Platinum Chip Credit Card: This card is designed for individuals with limited credit history. It offers benefits such as fuel surcharge waiver, reward points on spending, and discounts on dining and movie tickets.
  2. Axis Bank Insta Easy Credit Card: This card is targeted at individuals who have no credit history. It has a low credit limit and offers benefits such as cashback on spending and discounts on movie tickets.
  3. SBI SimplyCLICK Credit Card: This card is designed for individuals with limited credit history. It offers benefits such as cashback on online spending, reward points, and discounts on dining and movie tickets.
  4. HDFC MoneyBack Credit Card: This card is designed for individuals with limited credit history. It offers benefits such as cashback on spending, reward points, and discounts on dining and movie tickets.

It’s important to note that while these cards are relatively easy to get approved for, they may come with higher interest rates and lower credit limits. It’s also important to use credit responsibly and make payments on time to avoid damaging your credit score.

Secured Credit Cards

Secured credit cards are available for people with no credit history or a poor credit score. A secured credit card requires a security deposit that serves as collateral for the credit limit. Here are some examples of secured credit cards:

  1. SBI Card Unnati: This is a secured credit card that requires a minimum fixed deposit of Rs. 25,000 in an SBI savings account. The credit limit is up to 80% of the fixed deposit amount.
  2. ICICI Bank Secured Credit Card: This card requires a fixed deposit of Rs. 20,000 to Rs. 2,00,000 as security. The credit limit is up to 85% of the fixed deposit amount.
  3. Axis Bank Insta Easy Credit Card: This is a secured credit card that requires a fixed deposit of Rs. 20,000 to Rs. 25,000. The credit limit is up to 80% of the fixed deposit amount.
  4. HDFC Bank Secured Credit Card: This card requires a fixed deposit of Rs. 25,000 to Rs. 2,00,000 as security. The credit limit is up to 85% of the fixed deposit amount.
  5. Kotak Mahindra Bank Aqua Gold Credit Card: This is a secured credit card that requires a fixed deposit of Rs. 25,000 to Rs. 1,00,000 as security. The credit limit is up to 80% of the fixed deposit amount.

What Is the Easiest Credit Card to Get With No Credit or Thin Credit?

The easiest credit cards to get with no credit or thin credit in India are typically secured credit cards. These types of cards require a cash deposit as collateral and have a lower credit limit than traditional credit cards. They can be a good option for building credit history and improving credit scores. Some examples of secured credit cards in India include SBI Card Unnati, ICICI Bank Coral Credit Card, and Axis Bank Insta Easy Credit Card. However, it’s important to compare the features, benefits, and fees of different credit cards before applying to find the best one for your needs.

Comparison of SBI Card Unnati, ICICI Bank Coral Credit Card, and Axis Bank Insta Easy Credit Card:

Features
SBI Card Unnati
ICICI Bank Coral Credit Card
Axis Bank Insta Easy Credit Card
Annual Fee
Rs. 499
Rs. 500 (waived off on spending Rs. 1.25 lakh annually)
Rs. 500 (waived off on spending Rs. 15,000 within 3 months of card issuance)
Joining Fee
Nil
Rs. 1,000
Rs. 500
Credit Limit
Up to Rs. 1 lakh
Varies depending on creditworthiness and income
Up to 80% of the fixed deposit amount
Cashback/Rewards
1 reward point for every Rs. 100 spent
2X reward points on grocery and dining, 1 reward point on all other spends
1 EDGE Reward Point for every Rs. 200 spent
Fuel Surcharge Waiver
1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps
1% fuel surcharge waiver on transactions up to Rs. 4,000 at HPCL pumps
1% fuel surcharge waiver on transactions up to Rs. 400 at all fuel stations
International Usage
Yes
Yes
Yes
Interest Rate
3.35% per month
3.50% per month
3.25% per month
Minimum Due Payment
5% of the total amount due
5% of the total amount due
5% of the total amount due
Late Payment Charges
Rs. 100 to Rs. 750, depending on the total amount due
Rs. 100 to Rs. 750, depending on the total amount due
Rs. 100 to Rs. 700, depending on the total amount due

Note: The information provided in the table is subject to change. Please refer to the respective banks’ websites for the latest details.

What Is the Easiest Credit Card to Get With Fair Credit?

The easiest credit card to get with fair credit in India can vary depending on the specific requirements and policies of each bank or financial institution. However, some credit cards that may be easier to get with fair credit in India include:

  1. HDFC Regalia First Credit Card: This card is available to those with a minimum income of Rs. 20,000 per month and a credit score of 650 or above. It offers benefits such as reward points, lounge access, and fuel surcharge waivers.
  2. Axis Bank Neo Credit Card: This card is available to those with a minimum income of Rs. 12,000 per month and a credit score of 650 or above. It offers benefits such as cashback on movie tickets, dining, and mobile recharges.
  3. ICICI Bank Platinum Chip Credit Card: This card is available to those with a minimum income of Rs. 20,000 per month and a credit score of 650 or above. It offers benefits such as reward points, fuel surcharge waivers, and discounts on dining and movies.

It’s important to note that while these cards may be easier to get with fair credit, approval is not guaranteed and will still depend on factors such as income, employment status, and credit history. Additionally, these cards may come with fees and interest rates, so it’s important to review the terms and conditions carefully before applying.

What Is the Easiest Unsecured Credit Card to Get Approved for?

The easiest unsecured credit card to get approved for will depend on the applicant’s credit score and financial history. Generally, individuals with a credit score of 750 or higher have a higher chance of being approved for an unsecured credit card.

That being said, some of the easiest unsecured credit cards to get approved for in India include:

  1. HDFC Bank MoneyBack Credit Card
  2. Axis Bank Neo Credit Card
  3. ICICI Bank Instant Platinum Credit Card
  4. Kotak Mahindra Bank Aqua Gold Credit Card

It’s important to note that while these credit cards are easier to get approved for, they may have higher interest rates and lower credit limits compared to other credit cards. It’s essential to compare the features, benefits, and fees of each credit card before applying for one.

How Long Does It Take to Approve a Credit Card?

The time it takes to approve a credit card application can vary depending on the credit card issuer and the type of card you are applying for. Some credit card companies may offer instant approval, while others may take several days or even weeks to process your application.

For instant approval credit cards, you may receive a decision on your application within minutes of submitting it online. However, keep in mind that instant approval does not guarantee that you will be approved for the credit card, as the issuer will still need to review your credit report and other information.

For other credit cards, the approval process may take longer. Typically, it can take anywhere from a few days to a few weeks to receive a decision on your application. During this time, the issuer may review your credit history, income, employment status, and other factors to determine if you are eligible for the card.

Once your application is approved, it may take an additional few days to receive the physical credit card in the mail. Some credit card companies may also offer the option to expedite the delivery of your card for an additional fee.

Best Instant Approval Credit Cards in India

There are several instant approval credit cards available in India. Some of the best ones are:

  1. ICICI Bank Instant Platinum Credit Card: This card offers instant approval and requires no income proof. It also offers a reward point system on transactions.
  2. HDFC Bank EasyEMI Card: This card offers instant approval and allows you to convert your purchases into easy EMIs. It also offers a cashback program.
  3. Kotak Mahindra Bank Aqua Gold Credit Card: This card offers instant approval and is specifically designed for those who have never owned a credit card before. It has no joining fee and offers a reward point system on transactions.
  4. Axis Bank Insta Easy Credit Card: This card offers instant approval and requires no income proof. It also offers a cashback program on select categories.
  5. SBI Unnati Credit Card: This card offers instant approval and has no annual fee for the first four years. It also offers a reward point system on transactions.

If you’re looking for a credit card and have a limited credit history or a low credit score, there are still options available to you. Student credit cards, starter credit cards, and secured credit cards can be easier to get approved for, and many of them come with benefits and rewards similar to traditional credit cards. Just be sure to read the terms and conditions carefully, understand any fees associated with the card, and use your new credit responsibly to build a positive credit history. With the right approach, you can establish a strong credit foundation and open up more opportunities for financial growth in the future.

Frequently Asked Questions (FAQs)

Easy to get Credit Cards

Different banks have different criteria for approving credit card applications, including the required credit score. While a good CIBIL score is important, it's not the only factor. Other factors such as age, income, employment type, and banking relationship can also play a role in the approval process. Therefore, having a high CIBIL score does not necessarily guarantee approval for a credit card.
If your credit score is closer to 900, it increases your chances of getting a credit card.
Some credit card companies may approve your application instantly, but typically it takes about a week or two for them to approve it. During this time, they will review your credit history to decide if you are eligible for the credit card.
Some credit card companies may approve your application instantly, but most companies take a week or two to review your application and credit history before approving your credit card. They want to make sure you are capable of handling credit and are a trustworthy borrower.

Leave a Reply

Your email address will not be published. Required fields are marked *