Credit Card

Basic details

(mentioned in your pan card)


Credit cards are the representatives of electronic cash. Today’s modern world is so demanding and is ever running out of time. In such circumstances, expecting you to carry paper cash for every purchase you make will become tedious and risky, therefore credit cards have been invented. Through these credit cards, you can make cashless transactions online. Credit refers to the goods purchased with an agreement of paying cash for it after a particular time. Any purchase made from these credit cards will enable no debit of money from your account. Overall, credit cards are an easy mode of payment.

Eligibility Criteria:

Credit cards are issued by different persons depending upon different lender’s eligibility criteria and the purpose for which the card is availed. However, there are few basic criteria for one to avail a credit card and they are:

  • 1. Applicant should be 18 years of age, at the minimum.
  • 2. Applicant should have a regular source of income and therefore they need to be either selfemployed or salaried so that they can pay back the credit amount.
  • 3. Applicant should have a savings account in his name to avail the credit amount.
  • 4. Applicant should not have a bad credit score / history.

    The basic criteria for credit card eligibility depends on the following factors:

  • Purpose of card
  • City or place of the applicant’s residence.
  • Current employment: Self/employed or Salaried.