My Credit Age: 13 years
🙂
Cards I have (all are LTF – Lifetime Free):
- ICICI Coral (₹7L limit) – This is my oldest card. Before this, my very first card was Kotak PVR, but I closed that long back.
- Amazon Pay ICICI (₹7L limit)
- HDFC Millennia (₹75K limit)
- Scapia (₹4L limit)
- HDFC Swiggy (₹75K limit) – This shares the limit with Millennia
- AmEx Add-on Card – From my spouse (fee waiver based on spend).
Before applying any credit card, take some time to review your spending pattern. Read terms and conditions & Benefits, Rewards/Cashback value (ROI/ROR)
😉mainly. We all make mistakes, and it takes time to learn, common mistakes are like missing out on milestone benefits or redeeming rewards for lower value than we should, or applying for a card that doesn't suit meet our needs. Don't try to chase for milestones by spending more than you can afford. Always, keep an eye on any changes (devaluation news).So it’s always better to go with what suits you the most.
The best credit card keeps changing with time, but till now, I really liked my AmEx. Only problem is, acceptance issue for offline purchases (like departmental stores, restaurants, etc). I still feel excited whenever I apply for a new card. Some banks make the process super easy from applying a card to closing the card. But some, like SBI
😈, can be a bit of a headache.
They usually ask for: The required documents can change from bank to bank. It also depends on whether you are applying online or offline, if you already have a relationship with the bank or not, and other such things.
Most common documents:
- PAN Card
- CIBIL report (only in few occasions, most of the times they will have access)
- Bank Statement (Nowadays, many banks use something called Anumati to access your bank details)
- Address Proof
- Payslips
- Physical Verification (Sometimes they do this)
It's usually easier to get approval during year-end, festival seasons, or financial year-end and that’s the best time to apply.
😎
Try with the bank where you already have an account or relationship first where chances are better there. 🤞
