How to Get a Credit Card if You Don't Have a Job in India?

Posted by Shailendra Kumar on November 11th, 2019

Credit and debit cards are effectively beating other modes of transaction like cash or digital wallets with their immense offers this festive season as per the Festive Shopping Index 2019 by the Retailers Association of India (RAI) and LitmusWorld.

Around 12% Indians are expected to spend over Rs. 1 Lakh, with their primary expenses coming from apparel purchases.

For customers thinking of availing a credit card, such benefits are a crucial deciding factor before actually selecting the credit card since they complement the spending habits of users. Understandably, even for unemployed individuals, it is crucial to get a credit card of some form or the other to cope with sudden financial requirements.

For individuals who do not have a job in India but need a credit card, there are primarily two options of student and secured credit cards. However, it is crucial to note that these specific options are much more reserved in terms of benefits and features when compared to other credit cards. Underneath, these 2 options are discussed in further detail.

1. Student credit cards

These are credit line options which are dedicated to fulfil student needs during academic years. These cards have low spending capacity which generally goes up to Rs. 15,000. These cards have very minimal document requirements. Additionally, they do not need any income proof since it is not expected of students to have a job.

Additionally, using such a card responsibly ensures that a student develops a good CIBIL score even before they graduate and enter their world of career. To fund minor expenses like enrolment into ancillary and tertiary courses, buying books, funding academic excursions, etc. students can get a credit card of this nature.

2. Secure credit cards 

For individuals who do not yet have a job and cannot meet the income requirements of credit card issuers, a good option is to go for a secure credit card. These are elementarily credit cards which are issued against fixed deposit accounts. It is crucial for the fixed deposit to have a minimum tenor of 6 months to be applicable as collateral for the credit card.

Around 75% to 80% of the FD amount is eligible as the credit limit, depending on the financial institution as well as other factors. With low credit limits, these accounts are easy to maintain and consequently, can be used to develop the credit score of users over a prolonged period of time. 

However, since the wrong usage or defaulting can hamper the fixed deposit account, it is important to learn how to use a credit card wisely.

As an alternative to these options, there are various cards offered by financial institutions to meet the specific requirements of individuals. These credit cards offer discounts as well as cash-back and other features like gift vouchers, travel miles, etc. 

Bajaj Finserv RBL Bank SuperCard is one such card with multiple benefits on almost all types of expenses.

Additionally, to ease the application procedure and to reduce the time consumed, they also provide pre-approved offers. These pre-approved offers are available on numerous financial products along with credit cards like home loans, business loans and personal loans, etc. You can check out your pre-approved offer by providing your name and phone number.

Any customer willing to get a credit card should look into all the detailed features offered by them. Vitally, different financial institutions offer different schemes though few cards cover all types of expenses that can be involved. It is imperative to choose the right credit card for oneself. Typically credit cards which are not created for any specific type of expense offer the following.

The best credit card options for individuals without a job are mentioned above. However, if you are wondering how to apply for a credit card, it comes with the question of choosing the right card based on every customer’s personal spending habits. Further, it is crucial that customers keep in their mind to regularly clear their credit account repayments to prevent any fine due to delay.