How to Get Credit Card without a Job

There are certain credit cards that are exclusively designed for the specific needs of students. When used responsibly and smartly, credit card in college life can help you build a good credit history and earn good rewards. With the responsible usage of credit card you can imbibe good spending habits too. There are only few banks like SBI, Axis Bank, ICICI Bank and HDFC Banks that offer student credit cards. The eligibility criteria may vary from bank to bank. One bank may offer credit card to those students who have availed education loan with them and other bank may provide only credit cards against security deposits.

If you do not have a job, someone in your family having a credit card can share the benefits of his/her credit card by getting you an add-on or supplementary credit card. The features of the primary cards will also be extended to the add-on card. Your parents, spouse or siblings having a card already can help you get the add-on card.

If you do not have a job, you can still get a credit card against collaterals. Let’s say you have saved corpus amount, you can apply for credit card based on them by keeping that a security deposit with the bank. Banks will have a cap on minimum deposit requirement for issuing credit card. If you satisfy all the other eligibility criteria along with required minimum fixed deposit, a secured credit card can be availed even without an employment.

Be it a credit card or any kind of loan, credit worthiness is what matters to the bank the most. Even if you are employed by any company, if you are maintaining a good bank account record, you can get eligible for pre-approved credit cards. Even if you are not on job, if you are earning from other sources like rental income, pension, royalty, business profits and income from existing investments etc, that can provide substantial flow of income to prove your credit worthiness. Although such credit card offers are not quite prevalent in the Indian market, you can talk to your bank about the same to see if they are willing to offer you one such card.

Overall, having a job is not the basic requirement for availing credit card. The requirement is to meet the income criteria. Along with other common pre-requisites, there are income criteria’s that needs to be met to get any type of credit card. It’s important to remember that credit cards needs to be used responsibly to reap all of its benefits.