6 Easy Tips to Get Quick Credit Card Approval

  • Published on: 18 Apr 2024
6 Easy Tips to Get Quick Credit Card Approval

If you need quick credit card approval, it’s important to assure the issuer of your creditworthiness and repayment capacity. Since the issuer is at risk of financial loss, they approve applications only after reviewing your credit behaviour and ability to pay the dues. 

For this, they check many parameters, which you can work on to boost your chances of approval. Read on to know how you can get hassle-free credit card approval by following these simple tips.

Check the Eligibility Criteria 

Assessing this parameter 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 score requirements, a score above 750 makes you eligible for most credit cards. See the table below to understand the credit score rating better:

CIBIL ScoreCredit RatingChance of Approval
750 – 900ExcellentVery High
700 – 749GoodGreat
699 – 650FairAverage
649 – 600PoorPossible
Below 599BadLow

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

Another essential parameter that dictates your credit card approval chances is your credit history. When applying for a credit card, issuers check your credit report. Thus, having a history of defaults and late payments can reduce your chances of approval. 

So, make sure to pay all your credit card bills and loan EMIs on time before you apply for a new card. You can opt for auto-debit facilities or set up reminders before the due date so that you don’t miss your repayment date.

Reduce Your Debts

Having multiple credit cards and loans has a negative impression on the issuer, as they consider you to be credit-hungry. Moreover, if your credit utilisation ratio is above 30%, it shows poor financial management. Issuers may hesitate to give you a credit card, decreasing your chances of approval. 

Also Read: How to come out of Debt Trap

Show Record of Steady Cash Flow

Before approving your application, you need to demonstrate your ability to repay the bills in a timely manner. So, you must have a stable income source with a decent disposable income for maintaining a credit card, assuring issuers of your creditworthiness.

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, further affecting your credit health. 

Opt for a Secured Card 

If you want quick credit card approval, you can also opt for a secured type of card. A secured option allows you to apply for a credit card against the collateral, such as a fixed deposit.

This option is outstanding for getting quick approval, especially if you don’t have the required credit score or are new to credit. 

By knowing these tips, you can effectively make a well-informed decision to choose the best credit card for all your financial requirements. This allows you to easily handle your finances without stressing about budget restrictions and enjoy many unique credit card benefits. One such option you can consider is the Fibe Axis Bank Credit Card. 

As India’s first UPI-enabled, numberless metal credit card, this 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 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 quick credit card approval. Moreover, you must meet the other required eligibility parameters the issuer sets for swift approval. 

How can I improve my credit card eligibility?

All you have to do is follow these simple measures:

  • Maintain a credit score of 750 or more
  • Have a steady employment history with a regular source of income
  • Pay your credit card bills on time and in full
  • Use the card only when needed

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