Credit cards are the most common financial tools that people choose because they offer immediate spending and give users access to attractive offers, prizes, cashback, and more. Getting a card with lots of features may seem appealing, but it's important to keep in mind that credit card companies carefully review and verify each application before approving the requested card. Banks typically grant credit cards depending on an applicant's monthly income, credit score, or credit history. It is quite hard to get approved for a credit card without any income proof, however, it is not entirely impractical.
With the following ways, you can get a credit card without any need for income proof:
Many credit card companies will provide you a credit card in exchange for a set deposit or salary account as security. In the event that you get into financial distress, the FD or bank account will serve as security, guaranteeing the issuer that you will make repayments on time. One of the best secured credit cards is the Kotak 811 credit card, no required monthly salary or income proof is needed even students and stay-at-home mothers without a job can apply for this credit card. This card comes with a zero joining fee and a credit limit of up to 90% of the amount of your fixed deposit.
Since there is no income restriction or proof of income needed, any student over the age of 18 may apply for a student credit card. These credit cards include standard credit card features such as an introductory APR, rewards earning, and discounts.
Some credit card companies let you add an extra card on top of the main one that a member of your family may already have. You can apply for an add-on credit card if you already have a primary card without providing proof of income. This is allowed if the primary cardholder is a family member, such as a parent, brother, or spouse. Additionally, in order for card issuers to grant and issue another card, the primary cardholder needs to have a solid credit history.
Credit card companies issue credit cards when a sufficient balance is shown on bank records. As a result, if you want to apply for a credit card but have no income, you can do so by demonstrating a solid bank balance. This indicates that you have funds in your bank account and that you keep a healthy credit-to-debit ratio, plus you have adequate money to cover repayments.
A creditworthy co-applicant is a simple option to get a credit card without needing to provide proof of income, whether you're a young student applying jointly with your parent or a non-working person applying jointly with your spouse. A joint credit card is so that you can benefit from the co-applicant’s credit.
BOTTOM LINE:
Numerous financial opportunities are made available with the help of credit cards. When faced with a cash crunch, they can be of assistance, and the various rewards that come with them are just a plus. Even though the majority of credit card issuers need proof of income, you can still apply for a credit card in the ways mentioned above.
Additional Reading: A Complete Guide To Using Your HDFC Credit Card