Credit Card for Self-Employed Individuals: How to get one?

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Credit Card for Self-Employed Individuals: How to get one?

  • Highlights

  • Scout the market for a credit card that suits your needs

  • Check the eligibility requirements before applying

  • Opt for an issuer that has attractive credit card offers

  • Get the SuperCard with ease via a pre-approved offer

Whether you’re salaried or self-employed, a credit card is a great addition to your wallet because of the benefits it offers. You can get a credit card as a salaried or self-employed individual; however, depending on the issuer, the process for application and acquisition may differ. As a self-employed professional, you can pick from a plethora of credit card offers. This is why it is important to do your research before applying to get the best benefits at a minimal cost.

To help you pick the best credit card for a self-employed individual, here are the key points that you need to know.

Should you apply for a credit card for self-employed individuals?

As mentioned earlier, a credit card is an effective tool when used prudently. As long as you receive income regularly on a monthly basis, you can apply for a credit card as a self-employed individual. A credit card doubles up as an efficient way to build your credit score, making it a handy resource to have access to.

However, if you’re self-employed, credit card application requirements may differ based on the issuer you choose and so, you should check this beforehand.

Additional Read: How to choose the right credit card?

Experience the benefits of 4 cards in 1 with your pre-approved SuperCard - Apply Now

 

What are the eligibility criteria for a credit card for self-employed?

You can check credit card eligibility for self-employed individuals by either visiting the issuer’s website or contacting a representative. It is important that you do this as you may face rejection if you fail to meet the criteria. Generally, they are as follows.

  • You must maintain a high credit score, preferably over 750

  • You must be between the ages of 25 and 65 years

  • You must have a good repayment record

  • You must maintain a minimum annual income. This varies depending on the issuer

 

Additionally, to prove your eligibility, you must to submit relevant documents. This list includes the following.

  • Passport-size photographs

  • Identity proof in the form of Aadhaar card, PAN card or voter’s ID

  • Proof of residence in the form of utility bills, or Aadhaar card

  • Income proof

  • Statement of bank accounts

  • Proof of business

 

How can you apply for a credit card for self-employed?

If you are self-employed, applying for a credit card is simple. Here are the steps you need to follow.

  • Visit the issuer’s website or branch

  • Fill out the application form

  • Produce all the necessary documents

  • Submit the filled form and the documents

  • Use the application ID that’s given to you to track the status of your application if you wish to

 

Additional Read: How to Apply for a Credit Card Online?

Using this simple guide you can easily get a card for self-employed individuals. You can expedite this process altogether by opting for an issuer that has lenient eligibility criteria and short approval timeframe. The Bajaj Finserv RBL Bank SuperCard is one such option that checks both boxes.

Furthermore, the RBL credit card for self-employed individuals also gives you a wide variety of offers that help you save more on an everyday basis. You even benefit from an attractive reward system through which you earn points on every transaction and as you cross purchases milestones. These points can then be used to pay for future expenses, all in all allowing you to save up to Rs.55,000 annually. To unleash the full potential of the SuperCard today, check your pre-approved offer for a tailored deal and apply without any hassles.

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