Follow These Steps to Know Your Credit Card Application Status

Credit cards are precious financial tools that enable a user to make purchases on credit. Cardholders can reap the benefits of the exciting reward programs and multi-purpose features stuffed into it. Therefore according to a recent survey, almost 93% of all online and offline purchases in India are done by using this feature-rich alternate currency.

The application process of credit cards is kept fairly simple and easy by all major financial institutions. With the advent of the internet, the whole application process has now been integrated online making it more convenient for all applicants.

Tracking the credit card application status

You should know how to choose the most suitable credit card for yourself and apply for it successfully. There are certain eligibility criteria you may have to meet as mandated by the card issuer of your choice. Also, you need to accurately complete the application process.

This process is hassle-free and pretty straightforward with top card issuers. You can track the status of your credit card application process using two ways –

  1. Online process

To track the status of the application process online, the steps are as follows –

  • You have to first visit the online website of the financial institution you have applied for your credit card.

  • Click on a tab that says “track application” or something similar to it.

  • A window is displayed prompting to enter your following details –

  1. Customer identification number.

  2. Registered mobile number.

  3. Pan card number.

  4. Email address.

  5. Reference number.

  • After you fill in the above-mentioned details and they are verified, the website will display your credit card application status.

  1. Offline process

For credit card applicants who are not well versed with apps or tech savvy, financial institutions also offer two methods to check their credit card application status offline. You can either visit the nearest branch of your card issuer or you can call on the customer care helpline.

These are the same procedures to be followed while applying for an online credit card. To ensure that your credit card application is approved, be mindful of the following –

  • Age: You must be in the age bracket of 25-65 years.

  • Verification: The information, documents and the credentials you have submitted with the application must hold up correctly when they are verified.

  • Credit score: You must have a credit score above 750.

  • Address: You must be a citizen of India and reside within specified locations of the financial institution.

  • Registered customer: You must already be a registered customer of that financial institution.

  • Cardholder: You must be an existing EMI cardholder.

Benefits of applying for a credit card

Credit cards come with benefits and rewards to satisfy the financial needs of the cardholders. Some of them are as follows –

  • Reward points: Every transaction with the credit card ensures huge reward points which will ultimately accumulate to generate discounts on purchases. For example, when you apply for a Bajaj Finserv RBL Bank SuperCard, it offers up to 20,000 reward points as a welcome gift, to give you a head start.

  • ATM cash withdrawals: Credit cards can also be used to withdraw cash from ATM. Usually, there is a fee that is levied on the withdrawal. Some financial institutions provide 0% interest for up to 50 days.

  • Loan: You can use you the unutilized balance of your credit card to avail loans to meet your financial needs. Companies like Bajaj Finserv provide pre-approved offers for credit cards, home loans, business loans, personal loans and a range of financial products. You can check your pre-approved offers.

  • EMI conversion: You can convert large purchases into EMIs on your credit card. Convert purchases or transactions above Rs. 3,000 or Rs. 4,000 into easy to pay EMIs. These EMI amounts will be deducted from your credit card account.

  • Savings: Credit cards have proven to be more economical on your monthly budget and give you an opportunity to save up to Rs. 55,000 annually.

  • CIBIL score: When you use a credit card to pay for purchases or transactions, timely repayment of your credit helps you prove to become a more creditworthy individual.

A credit card helps you buy your dream house or that expensive watch you always wanted to have. Applying or tracking the credit card application status is simpler than before as both the processes are easily available online. Also, know the most common reasons why credit card applications are rejected to avoid the same on your application.