The Scapia credit card is one of the most appropriate financial instruments as it is multifunctional. It provides the opportunity of cashback, as well as of getting discounts. But before you can partake of these benefits, it is crucial to understand whether or not you qualify for a Scapia credit card. In this article, we will present the general criteria for Scapia credit card eligibility to enable you to self-check without much difficulty.
Basic Eligibility Criteria
- Age Requirement
The Scapia credit card is extended on the basis of certain conditions. One of them is that the applicant must be of 21 years of age or above. Nevertheless, there are differences in card policies of various banks; most of them issue the card for people with a certain income and aged between 18 and 65, though it can be issued to students at the age of 18 and older with parents’ permission.
- Income Requirements
Scapia credit card is granted with a consideration on the individual’s capacity to earn. Almost every issuer has a minimum monthly income requirement that depends on the type of the card and its privileges. In general, the repayments for the personal loan are contingent on the borrower’s wages; the monthly income has to be at least INR 25,000 for salaried employees, while the self-employed may require a higher salary for the same.
- Employment Status
Employment history is also important and therefore applicants should have stable employment. Salaried workers must have worked for their boss at the time of application for a minimum of six months, whereas the self-employed candidates must have been in their commerce for not less than a year.
- Credit Score
It is important for credit card holders to note that, credit score is an important factor in getting a credit card. Coming to the Scapia credit card for which individuals are qualified if they obtain a credit score of 700 and more. A good credit score works in your favor as it improves your chances of being approved as well as opens up a window to improved interest rates and improved credit limits.
Additional Criteria
- Nationality
Scapia credit card is applicable only for a person who is an Indian citizen. Of course, NRIs may also be eligible depending solely on the aforementioned policies of the bank in question. The ID proof acceptable for this purpose include but not limited to Aadhar card, PAN card or passport and the proof of address.
- Existing Debt
Lenders will look at your other loans. Applying for a Scapia credit card may also be affected if you have a high debt-income ratio. Thus, one should generally strive to keep small loan and credit card balances open for the purpose of improving one’s score.
- Relationship with the Bank
It will be an advantage if you and the issuing bank have had previous dealings with each other. Where you are already a customer, especially a loyal one, the problems with regard to Scapia credit card eligibility are likely to be less severe.
Conclusion
It is important to get into the Scapia credit card eligibility criteria to qualify for usage of the Scapia Credit card. There are certain minimum standards of age, income, and credit score that you have to meet to be approved for a card and meeting this will help. Of course, it is always recommended to clarify with the particular bank that provides the opportunity to obtain a Scapia credit card about any additional requirements. By knowing these criteria, you can apply and also benefit maximally from what Scapia credit card offers you.
