Posted on: May 22, 2024 Posted by: admin Comments: 0
Who is Eligible for a Credit Card in India?

In India, the eligibility criteria for obtaining a credit card are determined by various factors such as age, income, credit score, and employment status. Understanding these requirements can help prospective applicants assess their chances of getting approved for a credit card and choose the right card for their financial needs.

What is the Eligibility for a Credit Card?

Basic Eligibility Criteria

The basic eligibility criteria for obtaining a credit card in India typically include:

  1. Age: Applicants must be at least 18 years old. Some banks may require the applicant to be at least 21 years old.
  2. Income: A steady income source is necessary to qualify for a credit card. This income can come from employment, self-employment, or other verifiable sources.
  3. Credit Score: A good credit score (CIBIL score) is crucial for approval. A score above 750 is generally considered favorable.
  4. Residential Status: Applicants must be Indian residents or Non-Resident Indians (NRIs) with a valid proof of address.

What is the Minimum Salary for a Credit Card?

The minimum salary requirement for a credit card varies among different banks and card types. Generally, banks require a minimum monthly income ranging from ₹15,000 to ₹25,000. Premium cards and cards with higher credit limits may require a higher minimum salary.

Who Can Qualify for a Credit Card?

To qualify for a credit card in India, applicants must meet the following conditions:

  1. Employed Individuals: Salaried employees with a stable job and regular income are eligible.
  2. Self-Employed Individuals: Self-employed professionals and business owners with a consistent income stream can apply.
  3. Students: Some banks offer student credit cards to individuals enrolled in higher education, usually requiring a guarantor or a fixed deposit.
  4. Existing Customers: Banks may offer credit cards to their existing account holders based on their transaction history and relationship with the bank.

Must read: What is the Benefit of a Credit Card to Banks?

Who is Allowed to Have a Credit Card?

Minimum Age for Credit Card in India

The minimum age to apply for a credit card in India is 18 years. However, some banks set a higher age limit of 21 years. Minors can only get a credit card as an add-on cardholder under the primary card of their parents or guardians.

Credit Card Eligibility Age

The typical age range for credit card eligibility is between 21 and 60 years. Senior citizens may also apply, but approval depends on their income source, such as pension or other investments.

Credit Card Eligibility CIBIL Score

Importance of CIBIL Score

A CIBIL score is a three-digit numeric summary of your credit history, derived from the Credit Information Report (CIR). It ranges from 300 to 900. A higher score indicates better creditworthiness.

  • Excellent Score: 750 and above
  • Good Score: 700 – 749
  • Fair Score: 650 – 699
  • Poor Score: Below 650

Impact on Eligibility

  • Excellent Score: Increases chances of approval with better terms and higher credit limits.
  • Good Score: Generally favorable for approval.
  • Fair Score: May qualify for basic credit cards with lower limits.
  • Poor Score: Low chances of approval; may need to improve the score before applying.

Must read: Are Credit Card and ATM Card The Same?

Credit Card Eligibility Minimum Salary

Salary Requirements

The minimum salary requirement for a credit card application typically ranges from ₹15,000 to ₹25,000 per month for standard cards. For premium cards, the requirement can be significantly higher, often exceeding ₹50,000 per month.

Proof of Income

Applicants need to provide proof of income through salary slips, bank statements, or Income Tax Returns (ITR) filings. Self-employed individuals may need to show audited financial statements or ITR for the past two years.

Additional Considerations

Employment Status

  • Salaried Employees: Must have a stable job with regular income.
  • Self-Employed Individuals: Must demonstrate a steady income stream and financial stability.
  • Students: Limited options, often requiring a guarantor.

Residential Stability

Applicants must provide proof of address, such as utility bills or rental agreements, to demonstrate residential stability.

Existing Debt

Banks will assess the applicant’s existing debt load, including loans and other credit cards, to determine their repayment capacity.


Obtaining a credit card in India requires meeting specific eligibility criteria related to age, income, credit score, and employment status. Ensuring that you fulfill these requirements can significantly enhance your chances of approval. By understanding the criteria and preparing the necessary documentation, you can streamline the application process and select a credit card that best suits your financial needs.

Must read: What is the Main Benefit of a Credit Card?

Leave a Comment