Getting your first credit card can be a key milestone in your financial journey. It helps you build credit history for a better financial future and teaches you how to manage credit responsibly. However, the first thing to consider is whether you have the eligibility to apply for a credit card online or with the bank.
Even if you meet the eligibility criteria, there are other crucial steps to complete before you can get a credit card. Applying for your first credit card can feel confusing with many options and rules. This guide walks you through each step and clarifies the process.
Choose the Right Credit Card for Your Needs
Before you can check the eligibility to apply for a credit card online, you need to choose the type of card you want to apply for. Here are some options to consider:
- Student Cards: These cards are for students with low income and offer minimal paperwork and low spending limits
- Secured Cards: These cards are tied to a fixed deposit, providing a safe way to build credit
- Basic Reward Cards: Earn rewards like cashback, discounts, or fuel savings with no complex conditions
- Lifetime-Free Credit Cards: Such cards have no annual fees, offering rewards without extra costs
These are some of the cards you can choose as a beginner-friendly option. To choose, consider the benefits they offer and your lifestyle requirements.
Review the Eligibility Criteria Before Applying
Before submitting your application, you should ensure that you meet the eligibility criteria. This is important and it helps banks evaluate your repayment capacity. Here are the general criteria to apply for a credit card.
- Minimum Age: You must be at least 18 years old, the legal age to enter into a credit agreement in India
- Income Proof: Banks need proof of your ability to repay, such as a salary slip, bank statement, or other income documents
- Valid Identity and Address Proof: To follow KYC, documents like Aadhaar, voter ID, passport, or driver’s license are accepted
- Credit History (if any): Banks may review your loans or financial behaviour through CIBIL, even without a credit score
The specific criteria to apply vary from one issuing company to another. For example, some issuers have a minimum age of 21 years to apply for a credit card. Similarly, if you are applying for a credit card for the first time, then you will not have any credit history. In this case, you can apply for a secured credit card, which is issued against your fixed deposit.
Key Features to Consider Before Applying for a Credit Card
Before applying, compare various features across different cards:
- Interest Rates (APR): This is the interest charged if you don’t pay your full bill. Lower APR means you pay less interest over time, although paying in full is always best
- Annual and Joining Fees: Many beginner cards have zero annual or joining fees. If there is a fee, it’s can also be waived after spending a threshold amount
- Reward Programs: Some cards offer cashback on essentials like groceries or fuel, while others focus on travel or shopping. Choose one that fits your lifestyle
- Grace Period: This is the interest-free period (usually 20–50 days) between your statement and the due date. Paying in full during this time means you avoid all interest
- Late Payment Charges: Missing the due date leads to penalty fees and interest. Understanding these in advance helps you avoid any unexpected charges
Follow the Online Application Process Step-by-Step
Most banks offer easy online applications, which makes it easy to get a credit card quickly. After checking the eligibility, follow these steps to apply:
- Step 1: Choose Online Application Method
You can apply for a credit card via the net banking or mobile banking option. Most lenders have their mobile banking app, which allows you to track your application on the go.
- Step 2: Complete the Application Form
You will need to enter personal information, employment details, and proof of income. Ensure all the details match your documents to prevent any delays. - Step 3: Upload the Required Documents
The platform will ask for your PAN, ID, address proof, and income documents. Some portals let you link your bank account or Aadhaar for faster validation. - Step 4: Wait for Processing and Verification
After submission, the bank verifies your documents and may perform a KYC check. If approved, you’ll receive an SMS or email confirmation, followed by card dispatch.
Activate and Set Up Your Credit Card
When your card arrives, follow these simple steps to get started:
- Activate Your Card: Link it to your account via internet banking, the app, ATM, or customer support
- Set Your PIN: Set a strong PIN and keep it private. Some banks let you set it via SMS or an app
- Register for Online Access: Download the bank’s app or net banking to manage transactions and payments
- Enable Notifications: Set SMS and email alerts for transactions and due date reminders.
Build and Maintain a Healthy Credit Score Over Time
Your first credit card is key to building your credit history. Here’s how to use it wisely:
- Pay on Time: Timely payments boost your credit score. Set reminders or enable auto-pay
- Limit Your Utilisation: Keep your monthly spending under 30% of your limit
- Avoid Missed Payments: One missed payment can harm your credit score and stay on your record
- Pay at least the Minimum Due: If you can’t pay the full bill, pay the minimum due to maintain your credit score
Getting your first credit card is a stepping stone in your financial journey. It’s a commitment to managing money responsibly. This is why it’s best to opt for a beginner-friendly option like the One Credit Card for a smooth start.
The One Credit Card puts you in control with features like:
- A virtual card for secure payments shortly after approval
- A sleek metal card for a premium feel
- The OneCard App to toggle transactions, reset your PIN, and manage your due comfortably
- 5X rewards on top spending categories
- No-cost EMIs on big purchases
- One of the best lifetime-free credit cards in India
- A personal loan feature, OneCash, for instant credit and more
Ready for your first credit card? Apply for the One Credit Card today and start your credit journey with confidence.
Emily Williams