How to get a credit card without income proof

financialexpress.com:

A salary is typically regarded as the primary criterion for eligibility as banks and financial institutions typically prioritise income stability when evaluating credit card applications. This requirement of a regular income may deter many individuals such as freelancers, students, homemakers, or retirees from accessing credit card facilities. Yet, various methods and tailored solutions have now emerged to address this disparity in eligibility criteria.

For instance, secured credit cards offer a viable option for those lacking a conventional salary. These cards are backed by a security deposit. The deposit serves as collateral and helps people without regular income streams to access credit facilities. Bankbazaar’s latest report – How to get Your First Credit Card — highlights several factors offering you a solution to avail a credit card even when you have no regular income.

Let’s go through all the options available and what should be done to avail credit cards without regular income!

You can utilise your existing fixed deposits as collateral to secure a credit card with a credit limit of up to 90% of your FD amount. While your FD continues to accrue interest, in the event of non-payment of bills, the bank deducts the outstanding amount from the FD balance.

Also Read: Retire Rich: How to retire with a corpus of over Rs 1 crore

Have your spouse or parents apply for an add-on card on your behalf. The credit limit remains consistent for both primary and secondary cardholders. The primary cardholder is responsible for providing the ID and address proof details and is obligated to make payments.

If you’re a college student, you may be eligible to apply for a credit card from various banks. Many banks offer credit cards