Many Federal Bank credit cards, like Celesta, Signet and Imperio, with benefits and value-back across spending categories including travel, shopping, dining, etc. Federal Bank has also collaborated with platforms like Scapia, Onecard and Fi and offers co-branded credit cards. Every card has set eligibility conditions that the consumers must comply with for their credit card application to be approved. Given below are the details regarding the common Federal Bank credit card eligibility criteria:
Federal Bank Credit Card Eligibility Criteria
Though each card comes with its own eligibility conditions, there are some basic eligibility criteria that you must satisfy to get a Federal Bank credit card.
- Age: You must be at least 18 years old for a secured card and minimum 21 years old for an unsecured Federal credit card
- Nationality: You must be an Indian resident or a Non-resident Indian (NRI)
- Credit history: A good credit history with a high credit score of 700 or above is favourable to get approved for a credit card.
Secured Federal Bank Credit Card Eligibility Criteria
An applicant must Given below are some of the eligibility criteria to qualify for a secured Federal Bank credit card:
- Age: 18 to 80 years
- Account: Savings account with Federal Bank
- Fixed Deposit: Maintain an FD with Federal Bank of at least Rs. 25,000 and a minimum tenure of 6 months
- Nationality: Indian residents only
Federal Bank Credit Card: Documents Required
Listed below are some documents that are generally required during the credit card application process. However, Federal Bank may ask for more documents depending on its internal policies.
| 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 months 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, thus improving your chances of approval. A credit score of 700 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 considered to be a higher-risk borrower by the lenders as compared to someone who has stayed in a job more than a year.
- Number of Credit Enquiries- 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 the bank.
FAQs
How do I improve my chances of approval when applying for a Federal Bank credit card?
There are a few things that an applicant must do in order to improve 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 bank’s 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 18 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 Federal bank customer care centre to seek help in resolving the issue.