Getting approved for a credit card can be a significant milestone in your financial journey. Among the various credit cards available in the market, AU Small Finance Bank offers an array of options tailored to different needs and preferences. If you’re looking to get approved for an AU Small Finance Bank credit card, understanding the application process, eligibility criteria, and the factors that influence approval can help you navigate this process smoothly.
In this comprehensive guide, we’ll explore all the essential aspects that you need to know to improve your chances of securing an AU Small Finance Bank credit card approval. Whether you’re a first-time applicant or looking to upgrade your existing credit card, this article will serve as an invaluable resource.
What is AU Small Finance Bank Credit Card?
AU Small Finance Bank, one of the leading small finance banks in India, offers a wide range of financial products, including credit cards. These cards cater to various customer needs, from cashback rewards to premium features that can make your lifestyle even more convenient. With AU Small Finance Bank’s credit cards, customers enjoy a seamless banking experience along with benefits such as:
- Cashback offers
- Exclusive discounts
- Reward points
- Flexible repayment options
- Wide acceptance across platforms
The credit card options available are designed to offer something for everyone, whether you are looking for basic financial tools or enhanced rewards for frequent spenders.
Types of Credit Cards Offered by AU Small Finance Bank
Before you apply, it’s essential to understand the types of credit cards offered by AU Small Finance Bank. The bank provides a variety of cards, each tailored to different categories of spenders:
1. AU Bank Platinum Credit Card
Designed for high spenders, the Platinum card comes with premium benefits, including higher reward points for every purchase, access to airport lounges, and more.
- Benefits:
- Welcome bonus of reward points
- Priority pass for airport lounge access
- Enhanced cashback on select categories like groceries and dining
2. AU Bank Gold Credit Card
A versatile option for those who want rewards and cashback with a slightly lower annual fee than the Platinum card.
- Benefits:
- Reward points for every spend
- Discounts on dining, shopping, and more
- Fuel surcharge waiver
3. AU Bank Easy Credit Card
A more accessible option with fewer requirements, the Easy Credit Card is perfect for individuals who want to start building their credit history.
- Benefits:
- Low annual fee
- Easy access to credit
- Reward points on every purchase
4. AU Bank Signature Credit Card
This is an exclusive offering designed for affluent customers with high spending needs. This card provides luxury services and features to enhance your lifestyle.
- Benefits:
- Complimentary airport lounge access
- High reward point accumulation
- 24×7 concierge services
Eligibility Criteria for AU Small Finance Bank Credit Card
To get approved for an AU Small Finance Bank credit card, you must meet certain eligibility criteria. While the exact requirements may vary depending on the type of credit card you are applying for, the general criteria include:
1. Age Requirements
- Minimum Age: 21 years
- Maximum Age: 60 years (For salaried individuals)
- For Self-Employed Individuals: The maximum age may vary, typically up to 65 years.
2. Income Requirements
AU Small Finance Bank requires applicants to have a stable income source. This could be from your job or a business. The minimum income requirements will vary based on the card you’re applying for. However, the typical income criteria can range from ₹25,000 per month for entry-level cards to ₹1,00,000 per month for premium cards.
3. Credit Score
A good credit score is crucial when applying for any credit card. AU Small Finance Bank generally looks for applicants with a credit score of 750 or higher. A higher score not only improves your chances of approval but also ensures better credit limits and terms.
4. Other Requirements
- Indian citizenship or residency
- A valid PAN card
- Proof of address (e.g., utility bill, Aadhar card, etc.)
- Proof of identity (e.g., passport, voter ID, etc.)
Steps to Apply for AU Small Finance Bank Credit Card
Once you meet the eligibility requirements, you can proceed with the application process. AU Small Finance Bank offers both online and offline application methods, allowing you to choose the one that is most convenient for you.
1. Online Application
The easiest way to apply for a credit card from AU Small Finance Bank is through their official website or mobile app. Here’s how to do it:
- Visit the Website: Go to the official AU Small Finance Bank website.
- Choose the Card: Browse through the credit card options and choose the one that best suits your needs.
- Fill in the Application Form: Enter your personal details, income information, and other required documents.
- Submit Documents: Upload scanned copies of necessary documents like PAN, Aadhaar, proof of income, etc.
- Verification: The bank will verify your details, and if everything is in order, they will approve your application.
- Approval & Delivery: Once approved, the bank will send the credit card to your registered address.
2. Offline Application
If you prefer applying in person, you can visit your nearest AU Small Finance Bank branch. The process involves filling out a physical form and submitting your documents. After submitting, the bank will process your application and notify you of the decision.
How to Improve Your Chances of Getting Approved for an AU Small Finance Bank Credit Card
1. Maintain a Good Credit Score
As mentioned earlier, a credit score of 750 or higher significantly increases your chances of approval. If your credit score is lower, take steps to improve it by paying off existing debts, ensuring timely payment of bills, and reducing your credit utilization.
2. Ensure Stable Income
Banks prefer applicants with a stable and regular income. Having a steady income stream assures them of your ability to repay your credit card bill on time. If you are self-employed, make sure to maintain proper records of your business finances.
3. Correct Documentation
Ensure all your documents are up-to-date and submitted correctly. Missing or incorrect documents can delay the approval process or lead to rejection.
4. Avoid Multiple Applications
Applying for multiple credit cards in a short period can hurt your credit score. It’s advisable to apply for only one credit card at a time and wait for the decision before applying elsewhere.
Benefits of Having an AU Small Finance Bank Credit Card
Owning an AU Small Finance Bank credit card offers numerous advantages. Here are some of the key benefits you can enjoy once your application is approved:
1. Reward Points & Cashback
Most AU Small Finance Bank credit cards offer attractive reward points for every purchase. You can redeem these points for various products, services, or discounts, making your spending more rewarding.
2. Exclusive Discounts
AU Small Finance Bank often partners with retail outlets, restaurants, and online merchants to provide exclusive discounts to its cardholders. Whether you’re shopping for groceries, dining out, or making online purchases, you’ll enjoy savings.
3. Access to Airport Lounges
Premium AU Small Finance Bank credit card holders can enjoy complimentary access to airport lounges, a valuable perk for frequent travelers.
4. Insurance Coverage
Many AU Small Finance Bank credit cards come with free insurance coverage, which can include travel insurance, accidental death benefits, and more, depending on the type of card.
Conclusion
Getting approved for an AU Small Finance Bank credit card can open up a world of financial possibilities, from earning rewards to enjoying exclusive perks. By understanding the eligibility criteria, following the application steps carefully, and ensuring your credit history and financial documents are in order, you can significantly improve your chances of approval.
With the right approach and some preparation, securing an AU Small Finance Bank credit card will not only give you access to financial flexibility but also help you take advantage of numerous benefits that come with it. Whether you are looking to improve your purchasing power or enjoy premium services, applying for an AU Small Finance Bank credit card is a step in the right direction.
