Nowadays, having a credit card is becoming a necessity as it provides you with outstanding credit and makes you go cashless. It acts as a short-term loan. You should have an excellent financial status to get a credit card from any bank.
Different persons have exclusive types of needs according to their lifestyle. On the basis of the customers’ need, SBI credit card offers several options, they are:
- Travel Card
- Entertainment Card
- Rewards Card
- Cashback Card
- Life-Time Charge Free Card
- Business Card
Eligibility factors of SBI credit card
We all know that there are some eligibility criteria one needs to fulfill to get a credit card. For different banks, the eligibility criterion differs slightly, though they are more or less the same. Here all the details of the eligibility that one must know before applying for an SBI credit card.
Age: There is a limitation on one’s age set by the bank to get a credit card. The applicants must between the age range of 21 years to 60 years old. Where the minimum age limit is 21 years, and the maximum is 60 years. The cardholder should be a minimum of 18 years old.
Nationality: An applicant must be a valid citizen of India with a voter and Aadharcard. Non-Receding Indians or NRIs also can avail of the facility of SBI credit card.
Income: Both a salaried and self-employed person can apply for the SBI credit card. However, there should be a fixed source of income, and the income amount should be above the minimum limit set by the State Bank of India or SBI. The minimum income should be INR 20,000. Though the income range depends on the specification of the cards. To use different facilities, the minimum income also is different. In order to prove your income certificate or proof of income to the bank.
Work Experience: To get a credit card, the applicants also posses a certain work experience. A minimum of two years of work experience is required to become eligible for the SBI credit card.
CIBIL Score: CIBIL score is used by the banks as well as NBFCs in order to check a person’s creditworthiness. It is basically a three-digit number, which varies from 300 to 900. It also is known as the credit score. The credit score simply indicates the behavior of how anyone is managing or manages his or her credit from past to till now. A good credit score always convinces the bank to give a loan. For getting an SBI credit card, the CIBIL score or credit score should be more than 750.
If you get an idea about the eligibility criteria before applying, it saves you much time for doing the process. Now you can calculate whether you are eligible for the SBI credit card or not. The SBI Bank delivers outstanding rewards and conveniences to the people who maintain the credit card well.