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CIBIL Score: AXIS Bank Credit Card

In the recent times, Axis Bank has becomes one of the most preferred retail banks for its top notch services and timely customer care. In fact, it has surpassed most of the private bank entities to emerge as a leading banking service provider in the country.

Getting a credit card from this prestigious banking institution can be a truly amazing deal. However, the same depends on your credit history and most importantly, your credit score or as it is more commonly known, your CIBIL score.

In this article, we will tell you all about the Axis Bank credit card and the ideal CIBIL score you need to achieve to avail the same. In addition, we will also tell you the most common mistakes that people make that adversely affecting their credit score and ways to improve your credit ratings in the eyes of the bank.

Importance of CIBIL Score for Getting Axis Bank Credit Card

Well, your CIBIL score is the foremost criterion that determines your creditworthiness and your chances of availing a loan or a credit card for any given bank.

A CIBIL score ranges from 300-900. Anything above the score of 750 is considered as a favourable score. Your credit rating is calculated by taking into account several considerations such as your previous defaults, the number of loans you have taken from the bank, unpaid instalments, your income in a given period, etc.

In order to avail a credit card easily, you need to ensure that your credit rating is up to the mark so as to avoid any hassle or trouble while availing the bank's credit services.

Axis Bank Credit Card Features

Essentially, Axis Bank offers all the amazing services that a customer would ideally require from his bank. A seamless service and customised attention to customer’s needs surely makes this bank a favourite for a majority of customers.

Here are some of the startling features of the Axis Bank credit card.

It offers mobile alerts of your outstanding payments as well as payments that you make from your credit card.
It also offers a 50 day free period of credit without any sort of charges that may be levied on your account. However, the same is subject to bank conditions.
You can avail cash from over 10 lakh ATMs situated all around the world using your Axis Bank credit card. This means that you do not have to worry at all about cash liquidity and can spend on the go.
You can either pay your credit card bills using your bank account or choose the auto debit option that automatically pays your outstanding bill at the end of each month.
Axis Bank also offers its customers the option of paying their credit card bills through EMIs; however, subject to conditions as imposed by the bank.

Probable Reasons for Axis Bank Credit Card Rejection

There may be several reasons due to which your application for availing a credit card might be rejected. Some of the most common and probable reasons are enlisted below:

Previous Default : Any previous default on your loan might have an adverse impact on your credit card application. It may create an impression of your inability to pay debts and low levels of cash liquidity.

Exceeding Monthly Credit Card Limit : It may so happen that you exceed your credit card limit due to overspending. Such an act on your part can lead the bank to either cancel your credit card, if you repeat the default a number of times, or reject any future applications for availing a credit card.

Payment of EMIs : Non-payment of EMIs on time is yet another reason for your application for a new credit card getting rejected by the bank. In fact, even a single default on your payment can have a negative impact on your credit ratings or CIBIL score.

Settling Your Previous Debt at a Lesser Amount : Be cautious if you have settled your previous debt for an amount lower than the actual amount due to be paid for it can have a profound impact on the bank's decision to issue a credit card. It often indicates your low levels of savings with the bank and indebtedness.

Tips for Improving CIBIL score to get Credit Card

Here are some of the most helpful tips that can ensure that you have a good credit rating and are saved from any doubt on your ability to pay credit.

Keep a track on pending bills or payments and make sure that you pay them well within time.
In case you have defaulted or are unable to pay within the stipulated period, try and talk to your bank's manager and explain that you had a cogent reason for not paying on time. It may so occur that the delay might get condoned and you might be saved from futile trouble.
Do not withdraw cash using a credit card for it reflects on poor liquidity and bad spending habits.
Ensure that you set a monthly limit for your spending and use your money within the bounds set to avoid excessive expenses.
Avoid applying for multiple cards unless extremely necessary.

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FAQs on Axis Bank Credit Card

Does CIBIL maintain a defaulter list with itself?

No. CIBIL maintains no such list with itself. Its only job is to assess the credit worthiness of a particular customer.

What is the ideal CIBIL Score?

The closer your score is to 900, the better it is for you. It helps you gain credit from the bank quite easily. However, 750 is the ideal score for most of the credit requirements.

Is there a way to check my CIBIL Score?

You can check your CIBIL score by visiting the official website i.e. www.cibil.com.

Does CIBIL help the customers in any way?

Surely, CIBIL ensures that there is transparency in bank transactions. It helps, both the bank as well as the customers know the latter's credit rating, so as to evaluate and assess whether it is genuine to disburse loan to the applicant.

Can I get a Loan on Axis Bank's Credit Card?

Axis Bank offers instantaneous loans to its customers at the most convenient conditions.

Here are some of the most amazing features of availing a loan on your Axis Bank credit card:

No document required since your details are already secure with the bank.
The amount sought as loan is disbursed immediately without undue delay.
The amount is directly transferred to your Savings Account so that you can access the money anywhere and anytime.
Attractive and nominal interest rates make it possible for you to pay off the loan easily without financially burdening yourself.
You can choose from a variety of payment tenures keeping in mind your payment capacity and budget considerations.

What is eligibility Criteria for Axis Bank Credit Card?

The applicant must be a resident of India or an NRI and must be in the age range of 18-70 years.
A minimum monthly salary of INR 15,000 should accrue to the applicant.
The applicant must have no previous loan defaults and must have a credit score of above 750.
In case the applicant is salaried, documents such as PAN card, residence proof, etc. are to be complied with as per KYC norms.
An individual has to produce his three previous payment slips of salary from his/her bank account to apply for the credit card.
Income Tax returns as desired by the bank.

Will Axis Bank give me a credit card if I have a low CIBIL score?

Well, as mentioned above, the ideal score to apply and avail an Axis Bank credit card is 750. Any score below 750 can make you ineligible to apply for the same.

Does failure to pay my Axis Bank credit card dues affect my CIBIL score?

Yes, failure to make any payment or EMI due to the bank can adversely affect your credit ratings or your CIBIL score. All payments due towards credit availed have to be made within the time period specified by the bank.