The demand for credit card is increasing day by day as it has become an important part of people’s life today. Many people find it really difficult to manage their expenses without a credit card. For those who want to start their credit journey, getting a credit card can be really difficult especially when they are not working, as people without a source of income can be risky borrowers to banks. Still, many people manage to get a credit card without a secure job. Do you want to know how? This article will help you understand the ways to get a credit card when you don’t have a job. read on!
Apply for a Secured Credit Card
Secured credit cards are issued against fixed deposits without any income proof. If you do not pay your dues, the amount deposited by you remains with the bank as a security deposit. The credit limit you get with a secured credit card is usually equal to or slightly less than the fixed deposit amount. To get a secured credit card, it is not necessary to have a job at all; All you need to do is pay your bills on time to make sure that you build a good credit score. After building a good credit history, you can apply for an unsecured credit card as it will become easier for the card issuers to know your creditworthiness. You can find here a list of the best secured credit cards in India.
Get Add-on Credit Card
Card issuers allow their cardholders to have add-on cards issued for their children, parents, spouse or siblings. So if any member of your family has a primary credit card, you can get an add-on/supplemental credit card with all the features and benefits of a primary credit card. No income proof or credit history is required to get the add-on card. You should try to get a supplementary card under someone who has a good credit score.
Display your source of income
There are cases when people are unemployed but have a source of income or a good bank balance. You can show your transaction history or your bank balance to the card issuer to make them believe that money is being credited to your account regularly. This can be possible even if you have taken early retirement after earning enough for yourself. The job isn’t really necessary to get a credit card, but it’s important for the card issuer to know how well you’re able to pay the credit card bills. However, in this case, you need to have a savings/current account with the bank from which you want to get the credit card.
These were some of the most popular and important ways to get a credit card without a job. If you are also unemployed and want to take a credit card, then you can choose any of the above methods. In addition, it is advisable to use your credit card responsibly, whether it is a secured card or a combined card, or an add-on card. These cards not only provide you with a credit limit, but also provide you with an amazing opportunity to build or rebuild your credit score.