Applying For a Platinum Credit Card? Must Read These 7 Quick Tips

India consists of 1.3 billion people. For that, the card in force happens to be only 63.5 million. In other words, 2000 Indian people have one credit card. There happen to be 500 million people who are under age 21.

The aggregate demand for credit cards is huge. The demand for platinum credit cards in India is on the rise. With the huge customer base, the journey of credit cards for the first-timer is also very demanding. But you need to qualify for a credit card before taking advantage of your card. Here are 7 quick tips that can easily help you get a credit card.

The repayment capacity and the credit history are the two major factors that help to determine the eligibility of any credit card. The card issuer would look for the creditworthiness before extending the credit facility to the user. These financial institutions look for various parameters, including your residential proof. Apart from that, you need to score above 700 on your CIBIL score to get a good interest rate on your credit. Make sure that you earn a minimum of Rs. 20,000 per month before signing the application for your credit card. It would be easier for you to handle a credit card once you can look for the credit utilization behavior and your current income
The first-timers should go for a secured credit card. It happens to be one of the surest ways to get financial help and yet manage the finances properly. People with a substandard credit history or low credit score can build their credit history gradually. It can help them get a traditional credit card or unsecured credit facility as soon as possible.
Before you choose your first rbl platinum credit card, you need to internalize and read the various terms and conditions on the website of issuing financial institutions. Whenever you sign up for any credit card, you would be required to pay a one-time joining fee. For any basic card, this fee can be as low as Rs. 500. But for an ultra-luxury platinum card, it can be around tens of thousands. Sometimes the financial institutions can also offer limited-time promotional discounts that can help you to get a card with zero joining fees. You must also remember the various financial charges and the late payment fees you need to incur once you get any credit card.
A credit card will help you check the facility of buying now and paying later. Once you activate this option, you can get a free period of credit up to 50 days in maximum. If you are a novice, you must determine the free credit cycle along with the payment date and corresponding billing date before utilizing any credit card. Make sure that you observe strict discipline during the payment cycle.
You need to sanitize your transaction against any online threats. To do that, you have to ensure that every merchant should operate your card in your presence. Make sure that you never share your pin code with anyone. If you find any dispute, you should always block your card while raising a dispute.
Before you apply for your platinum card, you need to determine your spending habits.
After analyzing your requirements, you must select the best credit card that aligns with the spending pattern and income. The wide range of offers can help you with your monthly expenses.

With such a kaleidoscope of choices, you can enjoy the various encompassing freedom of the first credit card. To get one, you need to go through a video KYC and get your application processed within a few minutes. It will help you to get a card without facing any inconvenience.