The documents required while applying for a credit card depend on the bank or financial institution. But generally you should keep the following documents ready. Identity proof can be your Aadhar card, PAN card, driving license, passport or voter ID card. According to bankbazaar, address proof may require electricity bill, telephone bill, Aadhaar card, or other legal documents of your residential address.

Keep these important documents ready too

Apart from this, you should also keep the annual income tax return ready. If you have your own business or other sources of income, you can present this as a certificate of your financial condition. If you are employed then keep your latest salary slip ready. You must also have a completed application form when you apply for a credit card, as it contains your personal details and the official request for a credit card.

Among important documents (Credit Card important documents), latest passport size photo can also be demanded from you. You may also be asked to provide bank statements for the last three to six months. These help in verifying your financial transactions. If you are employed, then keep Form 16 issued by your company or employer ready. This contains proof of your paid taxes and TDS deductions.

Advantages and disadvantages of credit card

Experts say that if you use credit card in a disciplined manner, it helps you in time. This card is beneficial for you. But if you are careless in financial discipline. That is, if you are careless in paying the dues on time, then it can become a cause of trouble for you. This is because after the deadline, banks charge huge interest and penalty for delay.

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