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Most credit cards have a joining fee or annual membership charges you must pay when applying. On the other hand, some cards do not include these charges, thus known as free credit cards. A free credit card is something that you could use to make high-value purchases or even use to make urgent payments without paying the signup charges.
An instant credit card helps you buy expensive products and fetch a decent credit score while offering an option to repay later. Let us understand how a free credit card work and ways to apply for it.
How to apply for a free credit card?
You can apply for a free credit card online and offline at your convenience. Both the procedures for applying for a free credit card are straightforward. However, to complete the offline process, you must visit the bank branch in person, which can be hectic and time-consuming.
That is not the case with the online application process for a free credit card. In contrast to the offline mode, the online application method saves time and energy because you do not have to stand in the queue at the bank. Here is how you can avail of an instant credit card online:
- Research different credit cards
It is important that you thoroughly research the features and benefits of credit cards provided by banks and non-banking companies across India when applying for a free credit card online. The internet makes it simple to do so nowadays. You can gather this information easily on a reliable aggregator website.
Get the best lifetime free credit card by comparing various credit cards. Also, keep an eye out for the best interest rates. For instance, IDFC FIRST Bank's credit cards come with both affordable interest rates and great offers.
- Fill out the application form
After selecting the credit card provider, access their website and click the Apply button. In the application form, provide your details, such as name, contact number, age, and residential address. Subsequently, submit the form and upload the soft copies of the documents.
- Complete the KYC process
After uploading the required documents, completing the KYC process is a necessary step in the online application process for a free credit card. In this process, a representative from the card-issuing agency will verify your information based on the submitted documents. Several banks offer video KYC these days, where you can complete the process over a video call with a bank executive.
- Start using your credit card
Once the KYC process concludes and the application for a free credit card is accepted, the card provider will send the credit card to your registered address. Later, you can log into your credit card account, activate your card, and set up a security pin to start using it.
These are the simple steps for availing a free credit card. A credit card nowadays is a necessity. Apart from shopping benefits, these cards can help you build credit, which ultimately helps while obtaining a loan.