How to Get a Credit Card for Self-Employed

Getting a credit card when you are self-employed might seem challenging, but it’s quite manageable with the right approach. Self-employed individuals need credit cards for various reasons, such as managing expenses, building credit, and earning rewards. In this article, let us guide you step-by-step on how to get a credit card including options like the Airtel Credit Card if you are self-employed, with easy-to-understand instructions.

What is a Credit Score?

A credit score is a number that shows how good you are at paying back the money you borrow. Banks and credit card companies look at this score to decide if they should give you a credit card.

How to Check Your Credit Score?

You can check your credit score online through various websites. Some are free, while others might charge a small fee. Keeping an eye on your credit score helps you understand where you stand and how likely you are to get approved for a credit card.

Gather Necessary Documents

Important Documents Needed

To apply for a credit card, you would need:

• Proof of identity (like a passport or driver’s license)
• Proof of address (like a utility bill or rental agreement)
• Proof of income (this is where it can get tricky for self-employed individuals)

Proof of Income for Self-Employed

As a self-employed person, you can show your income using:

• Recent income tax returns
• Bank statements showing regular deposits
• Profit and loss statements from your business

Choose the Right Credit Card

Types of Credit Cards

There are various types of credit cards available. Some offer cashback, while others provide travel rewards or lower interest rates. For example, the Airtel credit card might offer special rewards on Airtel services and other benefits.

How to Choose?

Think about your spending habits and what benefits you want. If you frequently use Airtel services, the Airtel credit card could be a great choice for you.

Also Read: 10 Credit Card Hidden Charges that You Should Know

Apply for the Credit Card

Online Application

Most credit card applications can be completed online. You would need to fill out an application form with your personal and financial details. Be honest and accurate with the information you provide.

In-Person Application

If you prefer, you can visit a bank or credit card issuer’s office to apply. Bring all the necessary documents and fill out the application form there.

Tips for Getting Approved

Improve Your Credit Score

If your credit score is low, try to improve it before applying. Pay off any existing debts and make sure to pay your bills on time.

Apply for a Secured Credit Card

If you have trouble getting approved for a regular credit card, consider applying for a secured credit card. This requires a security deposit, which acts as your credit limit.

Show Stable Income

Ensure that your income looks stable and regular. This might mean maintaining a consistent amount of money in your bank account over several months.

Choose Airtel Axis Bank Credit Card

If you’re looking for a credit card that comes with good cash back offers, rewards and flexible repayment terms, then opt for the Airtel Axis Bank Credit Card. This card provides up to 25% cashback on Airtel bills and recharges, 10% cashback on utility bill payments, up to 15% off at partner restaurants, annual savings of ₹16,000, domestic airport lounge access 4 times a year and much more. You can apply for this card via the Airtel Thanks app.

Conclusion

Getting a credit card as a self-employed individual is entirely possible with the right preparation. If you know your credit score and gather the necessary documents, applying correctly can increase your chances of approval. However, if you use Airtel services frequently, you must consider an Airtel credit card as it may provide you with additional benefits such as 25% cashback on Airtel recharges, bills, and more.

Also Read: How to get a credit card without a bank account?

FAQs

1. Can I get a credit card without a fixed salary?

Yes, self-employed individuals can get a credit card by providing proof of income, such as tax returns and bank statements.

2. What if my credit score is low?

You can improve your credit score by paying off debts and ensuring timely bill payments. You might also consider a secured credit card.

3. What is a secured credit card?

A secured credit card requires a security deposit, which usually acts as your credit limit. It’s a good option if you have a low credit score.

4. How can I prove my income as self-employed?

You can show recent income tax returns, bank statements showing regular deposits, and profit and loss statements from your business.

5. Is the Airtel credit card good for self-employed individuals?

Yes, if you frequently use Airtel services, the Airtel credit card can offer specific rewards and benefits that might be advantageous.