Similar to the online application process, now, applicants can also view their credit card status online with clutter-free ways. Checking the status helps individuals to stay updated on developments in their application, whether it is approved or rejected.
Therefore, when applying for cards, individuals should also learn to check their card status. Following is a step by step guide to lead borrowers on how to check it online.
Checking via the official website
Individuals can check their credit card status online via the official site of their applied financial institution. To do this, they need to provide some necessary details.
Applicants may have to enter these details –
- Application number
- Form number
- Reference number
- Customer ID
- Mail ID
- Date of birth
- Mobile Number
Step by step process
- Step 1 – Firstly, applicants need to visit the authorised website of the lender to see their credit card application status.
- Step 2 – Next, they have to look for the tab “Track application”. Nonetheless, depending on financiers, this tab can be different but something similar.
- Step 3 – Once individuals click on the tab, they need to enter the necessary details.
- Step 4 – After entering all the required details, applicants have to submit the information.
After the completion of the last step, applicants will be able to view their credit card status.
Nonetheless, there are other ways to check a credit card application status as well. Individuals can visit the branch office and contact a representative who can assist them to know the status.
Alternatively, they can also call the credit card customer care of their applied financial institution and ask about the status. Customer care executives may ask about the details regarding the application to provide the latest update.
What to do before applying for a credit card?
Before opting for a credit card, individuals should conclude a comprehensive analysis of their present financial capacity and extensive comparison of the available option. With the help of this systematic search process, they can avail the most suitable product as per their requirement and repaying capability.
- Financial evaluation
As credit cards come with the responsibility of regular bill payments, individuals must ensure this aspect before anything else. If they have existing credit accounts and are paying loan EMIs or monthly bills of current credit cards, they should analyse their FOIR or fixed obligation to income ratio. The ideal ratio is 50%. Meaning, the total fixed obligations in a month should not exceed half of what the individual earns.
- Product research
Several types of cards are available from different financial institutions in India. Therefore, at first, individuals should have explicit ideas about what purpose is going to be solved by the card. Depending on the objective, they can compare the interest rate, reward programs, eligibility criteria, etc. and pick the best option that suits them.
They can consider available cards like SuperCard that offer beneficial deals like affordable interest rates, a wide range of incentives, etc.
Moreover, this NBFC brings pre-approved offers that simplify the process of availing financing and helps applicants save time. Individuals can also find these offers on other financial products like business loans, personal loans, etc. They can check their pre-approved offers by providing names and contact details online.
- Eligibility and documents
Individuals must check the eligibility criteria and documents required to avail a credit card before applying. These conditions differ from financial institutions. However, each and every financial institute first check your CIBIL score or account history to know you may clarify their debt or not as an assumption. Almost all the institute requires a CIBIL score of at least 750. But some may offer you if it’s around 700.
Lastly, individuals should always consider financial institutions that can offer easy processes like online credit card status check, simple application, etc. These are a few of the important things to know before applying for a credit card.