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CIBIL for IndusInd credit card

The IndusInd Bank is one of the most well-known banks in India that provide a wide range of financial services. The bank offers an assortment of credit cards that come with attractive offers. Credit cards are like a small loan taken from the bank which needs to be repaid before a certain deadline to avoid interest and other charges. IndusInd Bank has a large variety of credit cards to offer and that makes them a prominent credit provider of the country. Some types of IndusInd credit cards are:

  • Rewards card
  • Travel card
  • Shopping card
  • Business card
  • Lifetime free card
  • Lifestyle card
  • Cashback card
  • Entertainment card

If you need a credit card, you can choose the various offers from IndusInd Bank. However, there are certain requirements and eligibility criteria imposed by the bank that you will have to meet. If you are not aware of CIBIL requirements for IndusInd credit card, don't worry. This article will guide you through the entire process. It will explain the importance of CIBIL score for receiving IndusInd credit card and then inform you about how to improve CIBIL score to receive credit cards without any issues.

Importance of CIBIL Score for Getting IndusInd Credit Card

CIBIL assesses your credit history and provides a score in the range of 300 to 900. Naturally, higher the score, the better are your chances to getting the IndusInd credit card. Your CIBIL score carries a lot of importance when it comes to receiving credit from banks and financial institutions. A higher score is an indicator that the person does their credit card/loan payments on time and therefore can successfully afford to have a credit card. This three-digit score is a measure of your trustworthiness to the bank where you have applied for a credit card. When you apply for an IndusInd credit card, the bank will perform a background check of your credit history in partnership with CIBIL. Since CIBIL has the latest records of your credit dealings, it prepares a CIR (Credit Information Report) and gives out a CIBIL score. Based on this score, the bank will then evaluate your current outstanding payments and your ability to pay them while having a credit card. If you successfully meet their eligibility criteria, the bank will approve your credit card application and you will get IndusInd credit card.

IndusInd Bank Credit Card Information

IndusInd bank provides an assortment of credit cards fitting the requirements, preferences, and affordability of all kinds of customers. They even provide credit cards that are tailored to meet the requirements of individual customers. If you meet IndusInd credit cards eligibility requirements and successfully submit all the required documents, you can easily get IndusInd credit card. The best IndusInd credit cards are:

  • IndusInd Bank Platinum Aura Credit Card : This IndusInd credit card is focused on the elite customers of the bank. It comes bundled with various gift vouchers and discount offers.
  • IndusInd Bank Chelsea FC Credit Card : Another affordable IndusInd credit card special edition is the Chelsea FC card. This is a premium credit card that comes with a number of rewards and discount offers. You can easily fulfil your dining, travel, and lifestyle requirements with this card.
  • IndusInd Bank Signature Credit Card : This is a luxury credit card which can be used for travel and lifestyle requirements, since it comes with offers and discounts from premium companies such as Oberoi Hotels and Jet Airways. This card can also be used for availing offers on golfing.
  • IndusInd Bank Worldmiles Credit Card : You can enjoy a 1% waiver on fuel surcharges with this card between transactions ranging from Rs. 400 to Rs. 4000. The card provides attractive offers on fuel, movies, as well as shopping at well-known locations in the country.
  • Jet Airways IndusInd Bank Voyage Credit Card : This is another affordable credit card option from the IndusInd bank. This card has been created keeping the shopping and travelling needs of certain customer groups. It provides 1,000 bonus miles on the first transaction, if it takes place in the first month from the issuance date of the card.

Probable Reasons for IndusInd Credit Card Rejection

While the process of applying for an IndusInd credit card is relatively very simple, the problem is that your credit card application can be rejected due to certain reasons. Therefore, it is wise to know about them in advance and take steps to ensure that your IndusInd credit card application is successfully accepted and you receive it fast.

  • Bad CIBIL Score : If you have not paid your debts on personal loans or credit cards on time in the past, you will have a bad CIBIL score. When the banks run the background check on your credit history and find that you have not been making due payments on time, it can be a huge deal breaker and your IndusInd credit card application will be rejected. This is the most common reason for rejection of credit card applications.
  • Age Eligibility : The basic requirements of applying for a credit card is to be at least 18 years of age. If you are below that age, you will not receive a credit card. Although you can still apply for a supplementary card or an add-on card, you will require a co-signer. If you are a minor and you apply for a credit card, the bank will reject your application.
  • Self-employed : The process for granting credit card for self-employed people differs from salaried people. While salaried people are asked for their salary slip, the self-employed professionals need to show proof that they have successfully been in business since at least one year. If you are a self-employed individual and you don't have the proof, your application will be rejected.
  • Insufficient Income : The credit cards are small loans that the banks or financial organisations provide to an individual. If you do not earn enough money to make timely payments of the credit card, you will not receive the credit card and your application will be promptly rejected by the bank.
  • Incomplete/Wrong/Missing Documents : There are certain requirements that need to be submitted while applying for a credit card such as PAN number, identity proof, photo, income proof, age proof, etc. If you do not have these documents or the documents are not updated or are missing from the application, the banks will not process your application.

FAQs

Can I get a loan on IndusInd credit card?

Yes, you can get a loan against your IndusInd credit card.

What is the Eligibility criteria for getting IndusInd credit card?

You must be atleast 18 years of age with all the relevant documents to be eligible to get a credit card from IndusInd Bank. Your income must be suitable for the applied card and must have a great credit history and a good CIBIL score.

Will the bank give me a credit card if I have a low CIBIL score?

No, the bank will reject your credit card application if you have a low CIBIL score.

Does skipping a payment for IndusInd credit card affect my CIBIL score?

Yes. If you skip the payment for your card, the bank will forward this information to CIBIL and therefore, lower your CIBIL score.

Had a loan settlement with the IndusInd bank, will it affect my CIBIL score?

Loan settlement with the bank will positively affect your CIBIL score, since it will lower the amount of credit you owe to the bank.

Can I get more than three IndusInd bank credit card if I have a good CIBIL score?

If you have an exceptional CIBIL score, you can get three cards or even more from the same issuer. But it is not recommended as it can damage your CIBIL score, if you fail or falter in making their payments on time.