How to get 1st CC?

[Firewing224]

Dear all,
One of my relatives wants to get their first cc. They are basically consultant / self employed. Male. 28yrs.

They are freelancer for events. Eg. If there is a wedding at Ambani's, he'll be freelancing and giving services to the event company there. ITR is 4L.

Approached SBI but card denied. No credit history. No loans.

What is the best possible way to get a cc? Want to know options other than FD for self employed people like him. Most of us got pre-approved based on our salary.

 

[varun__goel_]

Dear all,
One of my relatives wants to get their first cc. They are basically consultant / self employed. Male. 28yrs.

They are freelancer for events. Eg. If there is a wedding at Ambani's, he'll be freelancing and giving services to the event company there. ITR is 4L.

Approached SBI but card denied. No credit history. No loans.

What is the best possible way to get a cc? Want to know options other than FD for self employed people like him. Most of us got pre-approved based on our salary.

Ask him to open account in HDFC. They generally offer a pre approved cc within 6 months

 

[s1t2y3a3m6]

Best option is take a fd card of 5k, make a good credit score then after go for unsecure Card.

 

[sidp]

Dear all,
One of my relatives wants to get their first cc. They are basically consultant / self employed. Male. 28yrs.

They are freelancer for events. Eg. If there is a wedding at Ambani's, he'll be freelancing and giving services to the event company there. ITR is 4L.

Approached SBI but card denied. No credit history. No loans.

What is the best possible way to get a cc? Want to know options other than FD for self employed people like him. Most of us got pre-approved based on our salary.

1.You mean his disclosed itr is low but income/transaction is high. Then best way is getting cc from the bank where he has current account. Approval based card will be best option for him. If his branch isn't doing it. Tell him to visit a different branch, and let them know if they get him a decent card he will shift his business to them.

2- does he use any ecom site with high frequency and transaction value? Get their cobranded card. Flipkart, amazon, swiggy, tata neu and there are so many of them.

3. fd based

 

[Firewing224]

1.You mean his disclosed itr is low but income/transaction is high. Then best way is getting cc from the bank where he has current account. Approval based card will be best option for him. If his branch isn't doing it. Tell him to visit a different branch, and let them know if they get him a decent card he will shift his business to them.

2- does he use any ecom site with high frequency and transaction value? Get their cobranded card. Flipkart, amazon, swiggy, tata neu and there are so many of them.

3. fd based

No transactions actually. It's just basically not on company role. Freelancer. If they have event, they call him.

 

[Vasuki]

Dear all,
One of my relatives wants to get their first cc. They are basically consultant / self employed. Male. 28yrs.

They are freelancer for events. Eg. If there is a wedding at Ambani's, he'll be freelancing and giving services to the event company there. ITR is 4L.

Approached SBI but card denied. No credit history. No loans.

What is the best possible way to get a cc? Want to know options other than FD for self employed people like him. Most of us got pre-approved based on our salary.

The best
1 - is 28 year so minimum 1 lakh per bank should be a thing
.now

Only way to get 1 lakh + limit in quick time is
You open 1.5 lakh fd icici card ..
Then u will get apay in 6 month

And since you card is 6 month . whichever card u apply gonna give me same kinda limit
Be it
Kotak , idfc ,SBI( some extent) , indusind.

+ Open account in HDFC and do all basic transactions even current one ...he is freelance..hdfc will handle that amount of transaction in saving of 25k or normal sb account..



You can do 5k fd but come one that's for 18 k boys not 28

 

[sidp]

No transactions actually. It's just basically not on company role. Freelancer. If they have event, they call him.

I didn't mean that. To run that business he must be having some transactions right? Either in current account (which he should) Or in personal account. If there are frequent transactions especially with upi/dc/cheque, the same bank can provide cc. Others won't.

Even for basic cards, most banks demands 5-6lakh itr.

Without good transactions, only options are cobranded cards from partner sites or fd card.

 

[Firewing224]

I didn't mean that. To run that business he must be having some transactions right? Either in current account (which he should) Or in personal account. If there are frequent transactions especially with upi/dc/cheque, the same bank can provide cc. Others won't.

Even for basic cards, most banks demands 5-6lakh itr.

Without good transactions, only options are cobranded cards from partner sites or fd card.

Nope. It's not business per say since he doesn't have expenses. He travels a lot but all expenses borne by his employing company. Eg. Taxi to airport or some wrap or roll he might have while travelling.

 

[sidp]

Nope. It's not business per say since he doesn't have expenses. He travels a lot but all expenses borne by his employing company. Eg. Taxi to airport or some wrap or roll he might have while travelling.

Then it will be tough.

He should try to book as much expense from his account as he can and later ask for reimbursement.