A credit card is one of the most convenient ways to pay for your purchases. You do not have to carry around large and heavy amounts of cash or your cheque book - which is both inconvenient and unsafe.  Credit cards also have security features to protect you against theft or fraud. Above all, credit cards allow you use your bank’s money to make your purchases until you pay your bill at the end of a monthly billing cycle. You are using someone else’s money for free for a month to make your purchases! For all these reasons, it’s no surprise that more and more people want to switch to credit cards.

How can I check the status of my credit card application?

If you are anxious about your credit card status, it is easy to track it online on the bank’s website.

- After you have submitted your application, you will be sent a Reference Number.

- Once you get that number, you can log in to the bank’s website and select the option that allows you to Track your Application.

- You need to enter your application reference number and other identifying personal details (like your mobile number or date of birth). Once your identity is verified, your credit card status will be displayed.

- The online process for checking your application status is more or less the same with all bank websites

What if my credit card gets rejected?

If your credit card application is rejected, the first thing you should do is to find out the reason for the rejection. Usually it is because of a poor credit score (less than 750). It could also be due to insufficient credit history. This is a likely reason if it is the first time you are applying for a credit card, not taken any loans, or only recently taken a loan. Your credit score plays a big role in whether your credit card application is approved or rejected.

How can I improve my chances of being approved?

It is good to periodically check your credit report and remain updated on your credit score. You can see if there are any specific areas that you need to pay attention to so that you can improve your score and avoid rejection in the future. If you do not have a long enough credit history, you can apply for a secured card which is issued against a fixed deposit. This will help you build your score and become eligible for a regular credit card. Each time you are rejected, it causes your credit score to drop, making it even more difficult to access a loan or credit card in the future.

CreditMantri can help you find the most suitable credit card for your needs and guide you, if required, on how to become credit-worthy.