Are you planning to apply for a credit card? If yes, you should be aware of the need to fulfill the credit card eligibility criteria. You need to be familiar with the required minimum income and eligibility criteria and check whether you can fulfill them or not before applying for a new credit card. The eligibility criteria of each credit card vary from bank to bank. For example, the SBI Credit Card eligibility criteria will be different from another bank’s eligibility criteria. If you fail to meet the requirements, your credit card application will be rejected, which will, in turn, lower your credit score.
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Basic Eligibility Criteria for SBI Credit Card
Age, income, credit score, and profession are the most common parameters in the credit card eligibility criteria. Now, check out the criteria for SBI credit card eligibility you should meet in order to apply and procure it:
- Nationality: To be eligible for a credit card, you must be an Indian national.
- Age: The age limit set by the State Bank of India to become eligible is generally between 21 and 70 years.
- Occupation: You must have a regular source of income to be eligible to get a credit card.
- Income: The monthly income criteria vary from banks to banks and NBFCs to NBFCs. However, in the case of an SBI credit card, it is mandatory to have a minimum disposable income to apply for and maintain a credit card. Your annual or monthly income determines the credit card limit and other benefits offered by the card.
- Credit Score: The applicant must necessarily have a good credit score, preferably 750, that indicates that they have not defaulted and have a credible repayment history.
Documents Required for SBI Credit Card
The documents you will require to apply for the SBI credit card are:
- Proof of identity, such as an Aadhaar card, voter ID, PAN card, Person of Indian origin card, etc.
- Proof of residence, such as Aadhaar card, passport, voter ID, utility bill, bank statement, property document, etc.
- Proof of stable income, such as through your salary slips or bank statements from recent months, ITR or Form 16.
Minimum Income Required to Apply for Top SBI Credit Cards
| Credit Card | Minimum Income Required per month |
|---|---|
| SBI SimplyClick Credit Card | Rs 20,000 |
| SBI SImplySave Credit Card | Rs 20,000 |
| SBI Card Prime | Rs 32,000 |
| SBI Card Elite | Rs 60,000 |
| BPCL SBI Card | Rs 20,000 |
| Air India SBI Signature Card | Rs 60,000 |
| Yatra SBI Card | Rs 20,000 |
| Club Vistara SBI Card | Rs 40,000 |
| IRCTC SBI Premiere Card | Rs 40,000 |
| SBI StyleUp Contactless Card | Rs 20,000 |
Factors Affecting SBI Credit Card Eligibility
Given below are certain factors that determine your eligibility for SBI credit cards.
- Credit Score: Most card issuers check the 3-digit credit score at the time of a new credit card application because the credit score indicates your financial responsibility. To be eligible for an SBI credit card, you need to have a high credit score and a good credit profile.
- Income: depending on the card you choose, you should meet the minimum monthly or annual income requirement set by SBI. It is mandatory that you earn this minimum income to fit in the eligibility to get credit cards.
- Occupation: Your occupation and years of experience play a major role in determining your eligibility for an SBI credit card. The chances of getting your credit card application status approved increase depending on how long you have held the job and how stable your income stream is.
- Location: State Bank of India considers your address or location while assessing your eligibility for applying for a credit card, as the area must not be blacklisted by the bank.
How to Check Credit Card Application Status
There are various ways to check the SBI credit card application status. They are as follows:
1. Website
You can visit the official website of the bank and go to the ‘credit card tracking page’ under the ‘credit cards’ section. On entering the requested details and submitting them, you can find out the credit card application status on validation.
2. Email
Under the ‘contact us‘ tab on the official website of the bank, you can click on it and send an email with the application number, mobile number, PAN card number, or date of birth in the mail and send it. On successful verification, you will soon get a reply from the bank with details about your credit card application status.
3. Customer Care
Another way to find out your credit card application status is by calling the helpline numbers and requesting the executive to help you track the credit card status
4. SMS
Lastly, you can find out the credit card application status by sending an SMS. All you must do is type the respective keyword for credit card tracking and send the message on the SMS banking number.
Wrapping Up
As you can see, there are various cards offered by the State bank of India with varied income level requirements. All you have to ensure is that you meet the above-mentioned SBI Credit Card eligibility criteria and you are all set to reap the benefits of tailor-made SBI credit cards based on different needs.