How to Apply Credit Card Online

In urban India, as an increasing number of families have both the spouses working, time has surely become a rare commodity. So, spending time in long queues at banks is just out of question. They long for a better solution. At the same time, bankers have a completely different concern. They are worried about the rising Non-Performing Assets (NPA). A 20% default rate is the norm, says data from Credit Information Bureau of India Limited (CIBIL). To solve the problems of both bankers and customers, a system has been developed through which one can apply for credit card online. However, due to low internet penetration and usage, online applications are still alien to customers. Here is a simple 4-step procedure to acquaint you with how to apply credit card online.

 

Apply Credit Card Online: 4 Step Procedure

 

Here are the main steps to apply credit card online:

 

  • Visit comparison websites: There are several websites with comparison tools, which can help you rank various credit cards on different parameters at the click of a button. This honest and independent comparison helps you choose the best service provider and best credit card for your requirements.
  • Apply credit card online: After having selected the credit card provider, it is time to submit the application. You can apply either at the bank’s website or through an intermediary. Applying directly with the bank is advisable, as your information will be secure and turnaround time lower. You can, however, use intermediaries’ services to research or verify any information.
  • Submit scanned documents: Along with your application, you need to submit scanned copies of documents, such as your ID proof, address proof and income proof. Many people are uncomfortable when they have to apply for credit card online because of security reasons. However, banks are responsible for online information transmission, which if misused can lead to the bank having to pay legal damages. Hence, they have foolproof systems in place to ensure zero security breaches.
  • Collect reference number: When you send an online application, you will receive a reference number at the end of the registration. You must note this down so that you can verify your status anytime later. Most credit card providers will take 7-10 business days to verify your credentials before they approve your credit card. Another week passes before it is shipped to you. However, this is understandable given the delinquency rate.

 

If you too want to apply credit card online, which offers quick turnaround time and low rejection rate, simply visit www.online.citibank.co.in.

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