SBI Credit Cards - Eligibility and Documentation

Before you apply, check if you meet the following SBI Credit Card eligibility criteria:

• Age between 21 to 70 years

• Salaried or self-employed with a regular source of income 

• Indian Resident or a Non-Resident Indian (NRI)

• Good credit score

Here is the list of documents you may need to keep ready before filling out your online application on Bajaj Markets:

• Proof of Identity:

  • PAN card

  • 2-3 passport-sized colour photographs

  • Passport details (especially for Non-Resident Indians)
    

• Valid Government Address Proof:

  • Utility bill (electricity, water, landline, or postpaid mobile phone bill)

  • Ration card

  • Aadhaar card
    

• Income Proof:

  • Salaried: Latest salary slips (past 2-3 months), Form 16

  • Self-employed: Income Tax Returns (ITR) with computation of income, bank statements showing income

Find out the best credit cards from SBI Card suited to your eligibility and requirements on Bajaj Markets. 

All you have to do is:

• Go to the eligibility calculator and select your employment information

• Enter details such as your mobile number and date of birth 

• Click on ‘Check Eligibility’ and proceed

Here is an in-depth look into the factors affecting eligibility:

• Credit Score

SBI Card considers your credit score provided by various bureaus like TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. This score indicates your credit history, current debts, and other relevant information. Usually, a score above 700 is considered good to be eligible for a credit card.

• Income 

Your earnings need to match SBI Card’s specific requirements for each card variant. Not qualifying on these terms can lead to rejection of your credit card application.

• Earning Stability

A regular income stream helps convince credit card issuers that you have the means to pay your bills on time. Consistent salary slips or recurring earning credits in your bank statements are a few indicators that help prove this.

If you wish to be eligible for a card that offers more benefits, consider these tips:

• If you already have a card, pay your bills on time, every time

• Regularly read and understand your credit report to identify inaccuracies or shortfalls

• Avoid closing credit cards that still have outstanding balances to be cleared

• Keep an eye out for pre-approved credit card offers from SBI Card

• Clear off existing debt before approaching the issuer for a better card

• Apply for a new credit card only if you meet the income criteria or once you fall in the income criteria bucket

• Maintain a high balance in your SBI savings account

• Pay off existing debts and try other means to improve your credit score

It could happen that you’re unable to meet SBI Card’s eligibility criteria. Here are a few other options you can consider:

• Explore Credit Cards From Other Issuers

Check if you meet the criteria of other issuers as their eligibility terms may differ. By sharing your details on the eligibility calculator on Bajaj Markets, you can find other cards that you qualify for.

• Get a Secured Credit Card

Use your fixed deposit as collateral to get an FD-linked card and use it smartly to build your credit score. As your income and score increase, you can apply for a regular credit card. 

• Apply for a Personal Loan

If you need funds for a wedding, home improvement, medical need or more, avail this unsecured loan. Meet simple eligibility terms and choose a comfortable tenor to repay. 

• Opt for an Overdraft Facility

Get a limited extension of credit based on your banking relationship with a lender with whom you have a bank account. You can even access this through ATMs using the overdraft (OD) option. It is suitable for minor, short-term needs.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.