6 Easy Tips to Get Quick Credit Card Approval

Updated on: 29 Aug 2024

Getting quick credit card approval is all about maintaining a clean credit history and showcasing good repayment ability. Since a card gives you access to credit, it poses a risk to the credit card company. This is why your ability to repay and your past behaviour with credit is reviewed before approval.

To know how to get instant credit card approval, check out six simple tips below.

Check if you Qualify

Assessing your eligibility before applying is the most important step in your approval process. This is because all issuers have varying parameters that you must meet. When you meet the required criteria, your chances of rejection are less.

Also Read: 5 C’s of Credit Card

Build a Good Credit Score

Another crucial factor is your credit score. While all issuers have different requirements, a score above 750 makes you eligible for most credit cards. See the table below to understand the credit score rating better:

CIBIL Score	Credit Rating	Chance of Approval
750 – 900	Excellent	Very High
700 – 749	Good	Great
699 – 650	Fair	Average
649 – 600	Poor	Possible
Below 599	Bad	Low

The table shows that having a score closer to 900 improves your chances of getting credit card instant approval in India without hassle.

Make Timely Payments

Making sure you are diligent about repayment dues is key when it comes to your:

Loan EMIs
Credit card bills
BNPL instalments

If you miss deadlines or default on credit facilities, your score drops and your chances of getting quick approval also decrease. Some easy ways you can ensure this is by:

Opting for auto-debit facilities for loans and bills
Setting up reminders a week before due dates
Planning your loans and card usage carefully before proceeding
Keeping an emergency fund ready in case of cash flow issues

Also Read: How To Check Credit Card Balance

Reduce Your Debts

If you have a multitude of loans to your name, your obligations increase. This reduces your free cash flow and makes credit card companies hesitate in offering you a new card. If you can repay some existing debt or increase your income, it will be easier for you to get quicker approval on your card application.

Show Record of Steady Cash Flow

Unstable earnings reduce your chances of repaying your credit card bills on time. This is why having a stable income helps you get faster approval. Usually, credit card companies check your bank statements to see if there is a record of stable income or credits in your account. This assures them of your ability to repay on time.

Avoid Applying for Credit Cards Frequently

If you submit multiple applications simultaneously, it can damage your credit score. So, it is best to apply for one credit card at a time. Moreover, it will be ideal not to apply for a card immediately after rejection, as it can show your desperate need for credit.

Opt for a Secured Card

If you want fast credit card approval, you can choose a secured card, which allows you to apply against a security, such as a fixed deposit. This works to your advantage, especially if you don’t have the required credit score or are new to credit.

Now, you can set yourself up for success and choose the best credit card for all your financial requirements. With the right card, you can easily handle your finances without stressing about budget restrictions and enjoy many unique benefits. One option to consider is the Fibe Axis Bank Credit Card.

As India’s first UPI-enabled, numberless metal credit card, it offers you maximum security when making transactions. This card also allows you up to 3% cashback on all online and offline transactions. What’s more, it allows you to save more with zero joining and renewal fees. So, download the Fibe App from the Google Play Store or App Store to apply now!

FAQs on Quick Credit Card Approval

How do I increase my chances of getting a credit card?

It is crucial to have a good credit score and repayment history to increase your chances of getting instant credit card approval. For this, you must:

Pay your credit card bills on time
Check your credit report for any errors and discrepancies
Maintain a credit utilisation ratio under 30%
Minimise the number of hard enquiries
Reduce your debts

In addition, checking the issuer’s eligibility criteria is imperative.

How can I get my credit card approved easily?

Having a good credit score can help you get instant credit card approval. Moreover, you must meet the other required eligibility parameters the issuer sets for swift approval.