Credit card can be termed as “fluid money” or “modern day money lending”. It gives one a hands-free easy way for shopaholics without using cash.
Credit card companies work on a model of borrow-return. While the buyer “borrows” money from the bank for his purchases, the bank demands the return. The credit card companies thus provide an easy, convenient and hassle free way of spending money, without actually having to spend it.
As a creditor needs to ensure that the borrower is “safe”, the regular security features are employed. The bank (credit card companies) provides a form to be filled by the applier. The details such as the one given below, are requested:
Present address* Permanent address* Phone number Mobile number Mail ID PAN * Employer* Employment Type* etc
In addition to this, one needs to present the following documents to background verification:
1. Colored Photograph - or identification 2. Salary slips (latest 3)
Self Employed - Latest personal income tax returns and business card 3. Copy of PAN card/Passport/Form16 (As per regulatory requirement relevant proof of residence) 4. Bank statements
These are required irrespective of the card type (gold/silver etc) and the bank of which the credit card is applied.
In addition to this, certain banks may require other documents like: Company ID card.
The details for some of the banks are given below for reference:
BANK Address FAX No. Helpline No. Website SBI Manager (Customer Services) SBI Cards & Payment Services Pvt. Ltd., Post Bag No. 28, G.P.O. , New Delhi-110 001. 0124-2348094 0124-2345141 http://www.statebankofindia.com/ ICICI ICICI Bank Limited ICICI Bank Phone Banking Centre 5th floor, Md. illayas khan estate, Road No 1, Banjara Hills Hyderabad 500 034, India Refer: http://www.icicibank.com/pfsuser/customer/cuscarenos.htm http://www.icicibank.com/pfsuser/cards/creditcard/cc_home.htm HSBC Refer : http://www.hsbc.co.in/1/2/personal/credit-cards http://www.hsbc.co.in/1/2/personal/credit-cards