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CIBIL Score for RBL Bank Credit Card

RBL Bank, previously known as Ratnakar Bank, is a commercial bank incorporated in the year 1943. The bank services more than 6.9 million clients via its 332 branches, 1,013 business correspondent branches and 376 ATMs across the country. RBL Bank is listed on BSE and NSE.

RBL Bank offers a range of credit cards, with a host of benefits and best-in-class privileges. Applicants can choose a credit card of their liking, basis their lifestyle requirements. It must, however, be noted that there are some eligibility criteria that an individual must meet to be able to obtain a credit card. This article covers all there is to availing a credit card from RBL Bank.

Why get an RBL Bank Credit Card

Here is a look at some of the benefits offered on RBL credit cards:

Credit CardBenefits
Platinum ValuePlus SuperCard• Available cash limit can be converted into a personal loan for three months at no interest, once a year.
• Unlimited interest-free withdrawal of available cash limit from ATMs up to billing date; maximum period of 50 days.
• Gift vouchers worth Rs. 500 on payment of joining fees and spends of Rs. 2000 made within 30 days of card issuance
Platinum ShopSmart SuperCard• Available cash limit can be converted into a personal loan for three months at no interest, once a year.
• Unlimited interest-free withdrawal of available cash limit from ATMs up to billing date; maximum period of 50 days.
• Cashback worth Rs. 500 on payment of joining fees and spends of Rs. 2000 made within 30 days of card issuance
Moneytap Card• Transfer as low as Rs. 3000, or as high as credit limit, to registered bank account
• Card spends can be converted into EMIs right from the app
• 1000 Reward Points on first online purchase on the card
Platinum Classic SuperCard• Available cash limit can be converted into a personal loan for three months at no interest, once a year.
• Unlimited interest-free withdrawal of available cash limit from all ATMs up to your billing date; maximum period of 50 Days.
• 2000 Reward points on payment of joining fee and spends of Rs. 2,000 made within 60 days of card issuance.
Platinum Edge SuperCard• Available cash limit can be converted into a personal loan for three months at no interest, once a year.
• Unlimited interest-free withdrawal of available cash limit from all ATMs up to billing date; maximum period of 50 days.
Platinum Max SuperCard• Available cash limit can be converted into a personal loan for three months at no interest, once a year.
• Unlimited interest-free withdrawal of available cash limit from ATMs up to billing date; maximum period of 50 Days.
• 4,000 Reward points on payment of joining fee and spends of Rs. 2,000 made within 60 days of card issuance.

Reasons for RBL Bank Credit Card Rejection

There are several reasons why banks and other financial institutions might reject an applicant’s credit card request. Here is a look at some of the common reasons why credit card applications have been denied:

  • Poor credit score
  • Unstable work history
  • Insufficient income
  • Not meeting the age criteria
  • Too much existing debt
  • Missing information in application

What is Credit Card Eligibility Criteria?

Minimum age of applicant21 years*
Maximum age of applicant60 years#
Employment Salaried or self-employed individuals
Minimum annual incomeDiffers from one credit card to another

*The minimum age criteria will differ from card to card.

#The maximum age criteria will differ from card to card

Documents Required for Credit Card

The documents that are generally required when one applies for a credit card are as follows:

  • Proof of identity: Voter ID, PAN card, Aadhaar Card, Passport, Driving Licence, etc.
  • Proof of address: Voter ID, Electricity bill, Passport, Driving Licence, Aadhaar Card, etc.
  • Proof of income
  • Passport size photograph

Note - The list is only indicative. Additional documents may be required by the bank while processing the application.

What is the Minimum CIBIL Score to get an RBL Bank Credit Card?

It has been observed that most banks and financial institutions accept applications of individuals whose credit score is 750 and above.

The closer the credit score is to 900, the higher the possibility that a financial institution will accept the credit card application. Those holding low scores might be denied credit or charged a high rate of interest on their credit card.

How to Improve CIBIL Score to get RBL Bank Credit Cards?

The various ways by which an individual can improve his or her credit score include:

  • Pay bills on time - When lending institutions review an applicant’s credit report and credit score, they are trying to ascertain how reliable the individual is with paying bills. Past payment performance is regarded as a good predictor of future performance. An individual can positively influence his or her credit score by ensuring all the bills are paid on time. Delayed payment or defaults can hamper one’s credit score and limit the applicant’s chances of being granted a credit card.

  • Keep frequency of applications low - When an individual applies for a loan or credit card, the lending institution will ask the credit bureau for the applicant’s credit report. This hard inquiry will be recorded in the report and cause the credit score to drop by a few points. In addition to this, having too many hard inquiries can result in the applicant being considered as credit hungry. To prevent such instances from arising, individuals are advised to only apply for a loan or credit card when there is an actual need.

  • Keep credit utilization low - Credit utilization is calculated by dividing the outstanding credit balance to the total credit limit of all credit cards. It is expressed in percentage form. A good rate is one that is less than or equal to 30%. Maintaining a low rate will not only help establish one’s credibility for financial discipline, it will positively influence the individual’s credit score. On the other hand, if an individual’s credit utilization is high, his or her credit score can go down.

Conclusion

RBL Bank offers a wide range of credit cards with excellent features and benefits. They come with great offers across various categories, including shopping, entertainment and fuel. Competitive interest rates have made RBL credit cards feature among the most sought-after cards in the country.