How Does The Approval Process For Instant Credit Cards Work In India

Automated Assessment: Banks and credit card companies have automated systems that instantly evaluate credit card applications to get instant approval cards. The systems instantly evaluate the applicant's credit score, income, employment status, and other criteria to assess whether the applicant is eligible or not.

Fast approval decision: The automated system can take a decision on credit card application within minutes

of time and grant in-principle approval to suitable applicants.

Account opening, and card despatching: After the approval process, the credit card account will be opened instantly.

Along with this, the respective card will be despatched to the applicant via postal services. It often takes 24-48 hours.

Very low documentation: Generally, most instant credit card applications involve minimal documentation requirements at the very least in comparison with traditional credit cards, having only basic information regarding your identity and financial life.

Qualifications

The usual requirements of instant credit cards are;

Good credit. This has to be more than or equal to 750

Minimum income level. That is, it must exceed ₹20,000 every month.

Above 18 years of age

You must be a citizen, and you are also resident in the country

Savings account

By automating their processes and reducing application requirements, banks and other financial institutions can provide credit cards nearly instantaneously.