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CREDIT CARDS - ELIGIBILITY
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To apply for a credit card, you need:
- To be at least 21 years of age and not more than 65 years.
- A regular and steady source of income
- Credit card companies (or issuing banks, as they are known) have a requirement of a minimum income level, which serves as the starting point while applying for a card. This requirement varies from bank to bank and could vary between Rs 60,000 per annum to Rs. 150,000 per annum depending upon your risk profile and the type of card you choose. Typically, banks issuing credit cards need to be sure whether or not you will be able to repay the expenses incurred through your credit card.
- Income levels Different banks require varying income levels for issuing credit cards. The minimum income level requirement also varies with the different card options offered by banks. In addition, the income eligibility is different for a salaried person and a self-employed person
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