One of the major factors to consider before applying for a credit card is to check the minimum income required. If you do not meet the minimum income requirement, your application will be rejected. All credit cards come with their own minimum income eligibility criterion. Usually, credit cards with basic features have lower income criteria while premium cards come would require the applicants to have a higher income.
Income plays a major role in credit card approval. In order to avoid rejection of your credit card application, you must check the minimum income requirement for the selected card and proceed only if your income matches the requirement. Usually, cards with high-income requirement tend to offer better perks in comparison to cards that require a lower income.
If you make most of your purchases online, you must get an online shopping credit card that not only makes shopping convenient but also rewards you for your expenses. One such card is SBI SimplyCLICK Credit Card. Available at an annual fee of only Rs. 499, SimplyCLICK is among the most popular SBI Credit Cards because of its rewarding features. Visit the site to know more.
As the end of moratorium period approaches, credit card issuers have started revising their schedule of charges. SBI Card and HDFC Bank are among the first issuers to revise their late payment fee, EMI conversion processing fee, finance charges, etc. So, let us see what changes have been made and what does it mean for the cardholders.