So lately I’ve been getting a lot of questions from my relatives and friends on getting their first credit card. This usually is when you start building credit history which will save you a lot on your interest rates and mortgages should you take any in the future. Which you probably will at one point in life.
Here’s the procedure:
- Sign up for a Bank of Baroda Savings Account
- Clear your bad credit if you have any, just make sure your score is not below 700, it can be 0 or-1.
3.Use the account 2-3 times a month and make 2-3 high value credits if you can to your account over 6 months.
- Visit the branch after 6 months and tell then you want a Credit Card. Fill the Application and usually you’ll be given the best card they can with your income. Behave well in the bank, even that is a factor in Credit Card Applications with Public Banks.
This method might work with other Public Banks like Union bank, Canara bank, etc. Just ask the branch about how you can apply for credit cards. SBI might be a bit different and I wouldn’t necessarily recommend SBI to be your first card unless you have an account with MAB of ₹30,000 for 3-6 (preferably 6 months) and apply through branch.
You are almost always better of applying for a credit card through the branch than online.