Getting an Axis Bank credit card without any income proof is not an easy task yet not so difficult as it seems. If you are wondering how can you get an axis bank credit card without any income proof, then this post is the right article you must read. In this post, you will know the other prerequisites and procedures you must follow to get an axis bank credit card without any income proof. On top of this, you will also know some other tips as well. Keep reading till the end to know everything.
Why Axis Bank won’t any credit card without income proof?
Not only Axis Bank, but most of the banks will not issue any credit card without income proof not because you don’t have a job and they hate you but because they want to make sure that the bank will get their money back. To explain in simple terms, when you get a credit card with a limit of 50000, the bank is allowing you to use their money up to 50000 per month in credit. Then, the bank will give you up to 45 days to pay back the amount you have used. If you can’t pay back that amount, they will charge you some amount of interest per month but they will collect after some month.
However, the bank needs to make sure that they are issuing the card to the persons that will pay back the credit amount but not to some random person who will use their money and run away. One of the sure ways to assure this is that the person is having a stable source of income like employed in an MNC or in a government sector. Even when a user fails to pay back the money, they can just forfeit the amount through your bank balance as the monthly salary will be credited into the account.
This brings the idea of what are the basic prerequisites to get an Axis Bank credit card without any income proof.
Prerequisites to have an Axis Bank Credit Card
There are certain things you need to have to have axis bank credit card so that you can get it without income proof. Let’s check the list below:
- Axis bank savings account with regular monthly usage minimum of Rs. 20,000.
- Good payment history if you have any other credit card from any bank.
- Good credit history if you have any other credit cards.
First, the bank will need to know something about you like the basics – are you a responsible person? Are you going to regularly use your card once you get it? Are you going to pay back once you use their money? Are you a regular user of Axis bank services? With a simple saving bank account history, Axis Bank will have a grasp of your history of all these questions. In short, you must have a savings account with Axis Bank. In that, you must transact there regularly.
Both points two and three are optional if you don’t have any other credit card but it is a must if you have any other credit cards from other banks. If you already have a credit card, your credit card payment history must be perfect and must have a good credit history as Axis Bank will run a credit report when you apply for their credit card. If you don’t know what is your credit score, you can always use free services like BankBazaar, PaisaBazaar to know your credit score.
How To Get Axis Bank Credit Card Without Income Proof
Since you already know the basic requirements listed above, you are ahead of most others. There are two ways you can get an Axis Bank credit card without income proof. The first one is getting a credit card with a fixed deposit (FD) and other is by using the pre-approved offers within Axis Bank services.
Axis Bank credit card with fixed deposit without income proof
Not only Axis bank but most banks will issue a lien credit card through the fixed deposit. So, why are the banks issuing in this way? Remember, I told you banks need to make sure that they can recover their money? If you can’t provide any income proof, but if you can provide a Fixed Deposit, banks have your fixed deposit amount, in any case, they need to recover their due amount. Generally, Axis bank will provide a credit card limit of 80-85% of your fixed deposit amount. For example, if your FD amount is Rs. 50000, then your credit card limit will in the range of Rs. 40000 to 42500. In the terms and conditions, the bank will clearly mention that in any case, you failed to pay the credit card bill, the bank has the right to deduct the due amount from your fixed deposit.
This method of getting credit card doesn’t need any kind of income proof nor any credit report. The fixed deposit is enough. There will not be any annual fee in the issued credit card. The credit card you are getting through FD is completely same as any other credit card.
Get Axis Bank Credit Card by using the pre-approved offers within Axis Bank services
Axis bank offers some pre-approved services including pre-approved credit cards to its select users. Such users are selected based on many factors which Axis Bank doesn’t disclose publicly. However, the secret sauce is out in public, use your current axis bank service regularly without any problem. Use your savings account like buy online products, send and receive money, withdraw money in ATMs, transact your debit cards in shopping malls. Continue this for about 4-6 months. After this continue using it but you should start checking in the pre-approved offers section in the Axis bank mobile app.
Can you buy products as EMI using Cards through FD?
Yes, you can buy or order products online or offline as EMI using a credit card through FD. The card you get using Fixed Deposit is the same as any other credit card. You can use the EMI feature offered by many banks. However, EMI is not that simple and you need to know more about it. If you are wondering about the NO Cost EMI, you can check it out in the post I have written. Check out the post of Everything you need to know about NO Cost EMI by clicking here.
One of the most important factors you must consider while considering for NO Cost EMI is: Are you sure you need to choose no-cost EMI? Are you ready to pay the fees even though it says NO Cost EMI? Everything is clearly mentioned in the above post. Do not miss reading it.
What now? After getting the card.
Now that you got the Axis Bank Credit Card, what now? The card you got is the same card like any other card through income proof. First things first, you need to properly use it, follow the basic rules. For example, use within your credit limit, keep the utilization rate low. Pay your bills regularly. For some reason, if your card is 3D Secure blocked, you might want to properly read this post of how to unblock the 3D secure blocked cards.
Keep using it for a minimum of 6 months. After this, you need to apply for Axis Bank Flipkart Credit Card. If you got the card first then well and good. But, if you didn’t get it then, you must apply for this card. This card is one of the best entry-level credit cards available in India.
Get Cashback For Credit Card Bill Payment
Now that you have established a good credit history, it is time to receive cashback for simply paying your credit card bills. It is just like Google Pay where you get cashback for transferring money through UPI. But in this case, you get the cashback for paying your credit card bills.
The name of the app is called CRED. All you need to have is a credit card and a good credit score. That is why I asked you to keep using it for about 6 months. Click the link here to install CRED App. If you follow the link below, you will get up to Rs. 500.
Once you install it, you will need to register with the same mobile number you have used in your credit card. I have written a full review of the CRED App. Click here to read the full review so that you can understand how can you get maximum cashback.
Using CRED, you can routinely check your credit score and maintain a healthy credit history apart from the free services mentioned above in this post.
There are other ways that you can get cashback for paying your credit card bills. I have written a detailed post on this. Click here to know more.
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