Tips & Tricks for Fastest Approval of Credit Card
Last Updated : Oct. 15, 2019, 3:28 p.m.
If you already have a credit card or thinking to buy your first, it would not be wrong to say that the first thing standing between you and your brand new card is a credit card application. Yes, because it is the first step that you usually take when it comes to buying a credit card. However, one thing that needs to be mentioned here is the fact that a right application can help you to get your card quickly. While on the other hand, a wrong application can be rejected.
These days, it is quite easy to apply for a credit card. Yes, you just need to enter your personal details, and click the submit button, and there you have your credit card. But, when it comes to getting a fast approval of your credit card, it is quite a complicated or difficult task. Yes, it requires the practical planning on your part which you should start earlier signing the card.
So, for your reference, here are some jotted down tips and tricks which will help in getting your credit card application approved too fast.
- Keep Your KYC Documents Ready
It is very important to be always ready with the right documentation because this is the key for a quick approval. You have to be ready with your KYC documents such as-PAN card, ID proof, address proof, income proof, etc before you apply for a credit card. In fact, you can get in touch with the executives regarding this so to have a smooth and quick credit card approval. If your documents are ready, it will help you with the quick approval of credit card.
- Try Instant Online Approval Engines
These days, there are plenty of engines available online that will give you the instant approval for credit cards. These engines allow you to check your eligibility online, and give you the instant approval, if your profile suits them. In fact, most of the banks have their own engines on their sites, wherein one can come,, check his/her eligibility, and get the instant approval for his/her credit card without any hassle.
3 .Improve Your Credit Score
Well, it would not be wrong to say that this is an often repeated statement, but is worth repeating again and again because of its significance and importance while getting a credit card . A good or high credit score is a must have when it comes to buying the credit card.
If you are having a low score, it will affect your profile and ut becomes difficult for you to get the approval for the card faster. In case with and credit score, you need to improve it with the help of paying all your debts on time.
- Trim Down Your Debt
Are you aware with the fact that 30 percentage of your CIBIL score is actually decided by the amount you own? So, if you are having a credit card, whose balance is high, it can damage your CIBIL score tremendously. Well, it means that your credit card utilization ratio which is basically the balance of your credit card is actually divided by the limit of your credit card which is under 30 percent on your every card.
Suppose if you are having a credit card with a credit limit of Rs. 10,000, you should keep your card balance under Rs. 3,000. Well, you can follow this quickly with the help of making a plan that will allow you to pay for your existing card faster. It will actually help in reducing your credit utilization ratio. So, now you can pay off all your purchases two or three times in a month rather than monthly, so that the balance of your card will remain low throughout the month.
