IDBI Credit Card Eligibility

The eligibility criteria for IDBI Bank credit card are:

Age – The applicants must be at least 21 years of age. The upper limit for customers is 60 years for salaried applicants while self-employed people can apply till they reach 65 years of age. Add-on card applicants must be over 18 years of age.

Citizenship – Only Indian Residents can apply for an IDBI Bank credit card.

Income – Customers whether they are salaried or self-employed can apply for a credit card. The income requirement will be shared at the time of application.

Applicants will have to submit documents to establish identity, address and income proof. Following documents are accepted by the bank-

Apart from the basic factors mentioned above like age and residential status, there are certain other factors that directly impact customer’s eligibility for an IDBI Bank credit card.

Income – All IDBI Bank credit cards have similar eligibility criteria but the minimum income required may differ for different cards. Meeting the minimum income requirement is important. Customer’s credit card application may get rejected if they do not meet this criterion.

Address – IDBI Bank provides credit cards to people located in certain cities. Also, Banks deem certain areas as ‘No Issue Zones’. So, customers whose address does not come in serviced areas won’t be able to procure a credit card.

Credit Report – Having a good credit history and credit score is important to avail a Credit Card by IDBI Bank. A CIBIL score of 700 or above reflects financial stability and lets the bank know that the customer can be trusted to repay their credit card bills.

How can I apply for a credit card in IDBI Bank?
Customers can go to credit card selection page of IDBI Bank by clicking here. Afterwards, click on ‘Apply Now’ below the card of choice. Follow the onscreen steps to apply for IDBI Bank credit card. Alternatively, customers can call IDBI Bank customer care centre (Toll-free number 1800 425 7600) or walk into nearest IDBI Bank.

Does IDBI Bank provide a credit card?
Yes, IDBI Bank provides 5 credit cards. The cards are:

• Royal Signature Credit Card
• Euphoria World Credit Card
• Aspire Platinum Credit Card
• Winnings Credit Card

Is it better to close a credit card or leave it open with a zero balance?
It is better to leave a credit card account open with 0 balance in it. Closing a credit card account will reduce the credit limit extended to the customer. This will reduce the credit utilization ratio which will negatively affect the credit score of the customer.

Why did my credit score drop after applying for a credit card?
Banks make a hard inquiry into the applicant’s credit score at the time of credit card application. This leads to a small drop in credit score. Do note that if the applicant applies for multiple credit cards or loans then the drop in credit score can be significant.

How can I quickly raise my credit score by 50 points?
To quickly raise the credit score customer can take the following measures:

Check Credit Report for any Discrepancies – Sometimes there might be an error in the credit report furnished by the credit bureau. In this case, the customer should report the fault at once to the bureau. This alone can raise the credit score significantly. This is especially true if the bureau wrongfully showed a default on loan repayment.

Pay the Full Outstanding Amount – Credit score is reduced when customers pay anything less than the total outstanding amount. The reduction in credit score is in direct proportion to the outstanding amount left unpaid.

Do not apply for new credit cards or loans – Every time a person applies for a credit card or loan. The bank makes a hard inquiry into the customer’s credit report. This drops the credit score of the customer.