Are you planning to apply for HDFC Credit Card? This article will provide you with important information that will assist you in getting approved. Yes, you need to fulfill the defined eligibility criteria set by your bank to avail of such cards. HDFC Credit Card eligibility is determined by HDFC bank using many different factors. It is important to understand the eligibility criteria for HDFC credit cards before applying.
The eligibility criteria for HDFC Credit Cards vary from one bank. You will need to do some research to determine the eligibility criteria for HDFC Credit Card. Credit history is the first thing that is considered when an HDFC card is offered. The next factors are debt ratio, spending habits, and so forth. HDFC Credit Cards are available to anyone with a good credit record. HDFC will consider your timely payment of bills as an asset.
Credit score is another important factor that HDFC Credit Card eligibility considers. The credit score is a combination of three factors. These are your credit report from an annual credit report, your credit score, and the total amount you owe. Once these factors are assessed, your eligibility is judged.
The next factor that is evaluated is your current payment history. You must know that HDFC Credit Card eligibility is not determined solely based on your existing credit card payment history. It is also based on the payment that you have made in the past. If you make your payments on time, you will be eligible for the HDFC Credit Card. However, there is still one more factor that is considered and that is your current CIBil score.
The current salary is the major factor that is used by HDFC Credit Card eligibility criteria. After you have completed your job, ensure that your salary is at least the required amount. You will definitely be disqualified if you have a low salary. However, a decent salary can still qualify you for HDFC cards, even if it is less than the required amount.
The minimum income requirement is the next factor that will determine eligibility for HDFC Credit Card. This refers to the age wherein you have to start receiving your pension. HDFC Credit Card eligibility is not defined solely by this minimum income requirement. Other eligibility requirements for the HDFC Credit Card include regular income, length of stay and credit history.
Credit limit is another important factor in HDFC Credit Card eligibility determination. This refers to the maximum amount of money that you can spend using your HDFC Credit Card. The credit limit for HDFC Credit Cards is usually $500. However, you should know that the total credit limit that you will be allowed to use may differ depending on your age. There is usually a limit of no less than five percent of your monthly income or any other specified amount.
The eligibility criteria for HDFC Credit Cards are determined based on several other criteria. HDFC Credit Cards is offered by many financial institutions. It is therefore important that you consider the interest rates, charges, as well as the other offers that you get your hands on. Compare the various offers to determine which one offers the most value. If you want to avail any HDFC Credit Card, you can simply go online and apply to any one of their branches.