Federal Bank provides credit cards in association with SBI Cards. Customers can expect the best of both worlds as Federal Bank credit cards offer the features and benefits associated with both SBI Card and Federal Bank. To know about the eligibility criteria to apply for Federal Bank Credit Cards, read below:
Federal Bank Credit Card Eligibility Criteria
Federal Bank seeks the following requirements from their customers who want their credit cards.
Age – To apply for Federal Bank credit cards an applicant must fall within the age group of 21 – 60 years (65 years if self-employed).
Income – The minimum income to apply for a credit card varies from card to card and depends upon other factors such as the applicant’s relationship with the bank, residence, etc.
Credit Score – Having a credit score of 700 and above is considered good for applying for a credit card.
Check Federal Bank Credit Card Eligibility at Paisabazaar
Federal Bank is not a Paisabazaar partner. But you can check your eligibility for top credit cards and apply at Paisabazaar within minutes by following the below-mentioned steps:
Step 1- Click here to enter your mobile number (you will need to complete the OTP based mobile verification)
Step 2- Select your occupation (Salaried or Self-employed) and enter other required details
After this, you will be redirected to the page where you can find all the credit cards listed as per your eligibility. If you are not satisfied with the options available, or you do not find the desired credit card on the list, you can always contact Paisabazaar’s customer care service for further assistance.
Step 3 – To apply for a credit card from the list, click on the “Grab Now ” option on the right-hand side of the card. Now, you will need to fill in a few additional details such as PAN, parents’ names and more and submit your application.
Note. Remember, if you have already registered with Pasiabazaar, certain information will be pre-filled in your application form.
Federal Bank Credit Card Documents Required
The documents that the customer needs to submit in order to avail a Federal Bank credit card are listed below.
| Proof of Identity | PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI, etc. |
| Proof of Address | Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 month’s old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, etc. |
| Proof of Income | Latest one or 2 salary slip (not more than 3 months old), Last 3 months’ bank statement, ITR, Form 16, etc. |
Factors that Affect Federal Bank Credit Card Eligibility Criteria
The following factors affect Federal Bank credit card eligibility criteria –
- Credit Profile- Your credit profile is made up of your credit score and credit history. A longer well-managed credit history leads to a better credit score, improving your chances of approval. A credit score of 750 and above is considered good.
- Job Stability- Banks would want you to have a regular source of income so that you may be able to repay the amount borrowed. Job stability plays a major role in it. People who switch jobs after every 6 months would be taken as a risky bet by the lenders as compared to someone who has stayed in a job more than 1 year.
- Number of Credit Enquiries- This is also related to your credit profile. Every loan or credit card application leads to a hard enquiry on your credit report. Once this happens, your credit score may drop. This is the reason why you should not apply for multiple loans or credit cards at the same time. A person who applies for too many loans is considered as credit hungry by the lenders and hence the chances of approval may decline.
- Location- In order for you to be eligible for a Federal Bank credit card, you should have a residential address in a location served and not black-listed by SBI Card. There are only a few such cities or remote areas where SBI Card does not serve.
FAQs
How do I better my chance when applying for a Federal Bank credit card?
There are a few things that an applicant must do in order to better his/her chances of credit card approval:
- Maintain a high credit score
- Keep at least a 6-month gap between credit card/loan applications
- Never default on credit card payments
How can one apply for Federal Bank Credit Card?
Federal Bank credit card can be applied through the SBI Card website. Alternatively, customers can visit the nearest Federal Bank branch to apply for the same.
Who can apply for a Federal Bank credit card?
Applicants must be over 21 years of age but below 65 years of age, Indian citizens, and have a steady income can apply for a Federal Bank credit card.
Who provides after-sale service for Federal Bank credit cards?
If customers face any issue using their Federal Bank credit card they can contact the SBI Card customer care centre. They can also contact Federal Bank to seek help in resolving the issue.