Credit cards are issued easily on your pay slips and credit score. But what happens when you are a freelancer or unemployed? Can you still get a credit card? Yes! While it is not easy to get a credit card without regular income but it is not impossible. There are a few conditions in which you can get a credit card even without being employed.
Here is how you can get a credit card without a steady flow of income.
Show your income proof from other sources
If you have alternate sources of income coming in your bank account including mutual fund dividends, freelance payments, and professional fees among others then credit card issuer might find you eligible for a credit card.
The lender will verify your ITR record, bank statement, and income proofs to issue a credit card.
Secured Credit Card
Secured credit card works exactly like a normal credit card. However, it offered against your investment in the bank like a fixed deposit. Credit limit offered on a secure credit card is around 80-90% of the FD amount. You can also get a cash withdrawal limit of up to 100%.
Add-On Credit Card
If you don't have any alternate source of income or funds parked in your FD, then you can apply for a add-on credit card. You can get this supplementary card on a card that your family member is already using. This can be useful for students, homemakers, and seniors.
Credit card has become a necessity. With cashless payment and digital india drive, it is necessary to keep plastic money in your pocket to make contactless payments.