As credit cards are becoming increasingly popular, they’ve become an indispensable part of many people’s lives. With the growing acceptance of credit cards and their benefits, more and more people want to get on the credit card bandwagon.
Another driving factor behind the mushrooming growth of credit card users in the country is the surge in digital transactions since the year 2020. Owing to the rising trend among consumers of buying products first and paying for them later, the credit card industry in India is expected to witness a growth of 25% CAGR during the period from 2020 to 2025.
For people wanting to apply for a credit card, there is a lot of important information that can greatly help them in getting their credit card application approved, and getting it approved quickly. We will discuss useful suggestions on everything you need to know about your Bajaj Finserv RBL Bank credit card status.
Know About Bajaj Finserv RBL Bank credit card status
Focus on Your Credit Score
Any credit cardholder will tell you that your credit score, or CIBIL score, is one of the most important factors to consider when applying for a credit card. Your Bajaj Finserv RBL Bank credit card status is largely dependent on your CIBIL score, just as in the case of most credit cards.
It is advisable to sustain a minimum CIBIL score of 750 to get approved for a credit card. There are various ways of doing so, but the best way is to maintain good credit history. This can be done by making timely repayments on any kind of debt that you might have. Thus, make sure you find out your CIBIL score before applying for a credit card.
A good way to get swift results on your credit card application is to apply online. Doing this will serve you several benefits. Firstly, you can get instant approval on your online credit card application. If you fulfill all the criteria, it can take minutes to get a credit card. Secondly, it’s extremely easy to check your Bajaj Finserv RBL Bank credit card status online. Thirdly, it’s convenient to apply for your credit card from the comfort of your home rather than going to a bank or the credit card company’s office multiple times. Moreover, a large number of activities are moving online due to social distancing norms.
Keep Your Documents Ready
Oftentimes, people go to apply for a credit card only to realize during the process that they don’t have their PAN Card or income proof. In such cases, they need to go through the whole process again once they get hold of the missing document(s). Thus, it’s important to keep your KYC documents ready to get a speedy response on your Bajaj Finserv RBL Bank credit card status. The KYC documents generally include PAN Card, Aadhaar Card, and income proof. It’s a good idea to check with your credit card issuer as to what documents you require to apply for the credit card. This will ensure your application process is smooth and hassle-free.
Choose Your Credit Limit Wisely
For those wondering, ‘what is a credit card limit?’, it is the maximum amount of spending that you can do with your credit card during a billing cycle. It is set by your credit card issuer and it significantly affects your credit score. Now, there are two aspects of the credit card limit that you need to take into account.
Firstly, if you already have a credit card and you’re applying for another one, keep your credit utilization ratio at around 30%. What this means is that you should limit the spending on your existing card to about 30% of your credit limit. This will help you maintain a good credit score, and will ultimately help with your new credit card application.
Secondly, when applying for your new credit card, some issuers might give you the option of choosing your credit limit. If you have that facility, ensure that you choose a credit limit that’s comfortable enough for you to manage.
The ideal credit limit should be enough to give you some extra space after your necessary expenses, but not too much that it becomes a problem for you. Thus, plan carefully when choosing your credit limit.
RBL Bajaj Credit Card Tracking Status
As the Bajaj Finserv RBL Bank credit card is a popular option in India, the application process is simple and straightforward. Once you finish the application process, you can know about the Bajaj Finserv RBL Bank credit card status by tracking the status online on the Bajaj Finserv website.
Alternatively, you can get in touch with the customer care representatives to know your application status. Another option is to visit your nearest Bajaj Finserv branch, and you can reach out to a representative to know about the application status.