Data sourced from the Reserve Bank of India suggests that the number of unique credit card users was estimated to reach 25 to 30 million in 2018-19. Among this vast number of users, there are not only salaried individuals but also non-salaried and self-employed individuals. This data suggests that a large portion is aware of credit cards and their several benefits in financial operations in our daily lives.

What is a credit card?

A credit card is a regular plastic card issued by financial institutions that adds to convenience in monetary transactions. Compared to a debit card, after a particular transaction, the funds are not subtracted from your account but are deducted from the monthly credit limit granted by your card issuer.

The funds which you can access with the help of a credit card are money borrowed from your card issuer, which is required to be repaid after the end of each billing cycle. Since financial institutions lend you the funds up to a specific limit. They have strict eligibility criteria; among those terms and conditions, the crucial ones being a high credit score and a substantial monthly salary.

Most non-salaried individuals do not possess adequate documents showcasing their proof of income. Hence, they need to take a different course of action to get credit card approval from their desired financial institution.

Tips to avail a credit card for non-salaried individuals –

• Provide your card issuer with the details of your savings in various accounts.
• During your credit card application, you can use the proof of income of your spouse if he or she is currently employed has a decent monthly salary.
• Clear your current dues to increase the chances of credit card approval.

Following these tips, financial institutions are more likely to approve your credit card application. Hence, this is how non-salaried individuals can also avail of the multiple benefits of credit cards like the Bajaj RBL bank SuperCard, which comes with several industry-first features.

This NBFC also brings forth pre-approved offers that make availing credit with minimum hassle. Such offers are also applicable to numerous other financial products such as personal loans, business loans, etc. Check your pre-approved offer by providing your name and phone number.