Is salary slip required for credit card?

Is salary slip compulsory for credit card?

Yes, customers can apply for a credit card without submitting a salary slip. In its place they can submit Income Tax Return acknowledgement.

Can I get a credit card without payslips?

You can still be approved for a credit card if you don’t have regular payslips to prove your income. Self-employed people and freelancers are an important and growing part of the credit card market.

Is it safe to send salary slip for credit card?

There are many repercussions of submitting fraudulent salary slip and any type of fake document while applying for a credit card as follows: … Even banks can file a legal case for submitting such fake documents. A case under Sections 420, 465, 465, 467 and 471 of the IPC will be applied.

Do credit cards check salary?

If a credit card company suspects you of lying, they will likely ask for verification of the facts before processing your application. The only thing worth lying about on your credit report is your income, and if the lender suspects that you’ve done so, they may ask to see pay stubs or your most recent tax return.

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Is Form 16 mandatory for credit card?

Credit Card:

Applicants have to provide the new Form 16 for the last 2 years when applying for a credit card. Form 16 acts as a proof of income and statement of income tax liability, which helps credit card issuers to assess the financial position of a customer.

Can salary account apply for credit card?

Applicant should either be self-employed or salaried person. He should have a regular source of income. Salary is a crucial deciding factor for credit cards. Someone earning say Rs 50,000 per month is eligible for a different type of card than a person earning Rs 25,000 per month.

Do banks check payslips?

Most lenders will ask for your two most recent, consecutive payslips that are no more than six weeks old. … If your employment is complicated or you receive other income types such as overtime, bonuses or commission then you may need to provide additional payslips, your tax return or group certificate.

How much is enough income for a credit card?

If you’re applying for an unsecured credit card from a major issuer, you’ll likely have to meet a minimum income requirement — usually $10,000 or $12,000 per year. If your income is too low, or you’re carrying too much debt, your application might be rejected.

How do bank verify salary slip?

Usually hr inquiries by cross checking the payslip, salary breakup and the online bank statement which reflects the salary transaction of past few months. So, for verification some companies ask for hardcopy of payslips with authorized signature and stamp and Some ask for soft copy.

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Is it safe to share salary slip?

A lot of companies may even ask you to provide them with copies of salary documents from your last job. Refuse them, because in all probability, they intend to intimidate you during the salary negotiation. … The truth is, that the minute you surrender your salary slip, you lose your negotiating advantage.

Can I get credit card with low cibil score?

An unsecured credit card can be availed by all those applicants who have no credit score or possess a low credit score. The secured credit card can be availed in a bid to build up the individual’s CIBIL score.