In the present day, a majority of the population worldwide is dependent on credit cards for carrying out business and personal transactions, making expensive or bulky purchases, and enjoying several benefits exclusive to the users of credit cards. The cash that can be withdrawn against credit cards has a limit. Though. This cash limit that is available to credit card users, however, is dependent on their eligibility. In this article, we shall discuss your eligibility as a credit card user and check the eligibility for getting cash from credit card.
Credit cards play an important role in modern commerce, allowing users to make transactions when they cannot make the entire payment upfront. Though there is a limit to which you can withdraw money from your credit account, it can be raised based on your eligibility. Several factors come into play while determining a person’s eligibility to hold and withdraw cash using a credit card. Some of these determinants include:
The primary factor playing an essential role in your credit card eligibility is your age. Credit card companies can choose to reject your application if they feel you are not old enough. Though the legal age to apply for a credit card is 18 years, banks can reject your application unless you’re 25 years old. Similarly, you can enjoy the benefits of a credit card till the end of your professional career, till 60 years (65 is the limit for some companies)
As a salaried individual or a self-employed person, your access to a credit card is largely dependent on your income. and employment status. Most companies allow individuals with a steady source of income to enjoy credit card facilities. The amount of cash you can withdraw is also calculated based on your salary. RBL bank opens its credit card facilities to individuals with a monthly income of Rs. 25,000 and above.
The credit score refers to the potential for an individual to draw credit using a credit card. A good credit score between 750 and 900 maximizes your chances to draw a credit on your name. With a stellar credit score, you can also enjoy better benefits and higher credit limits. Unless your credit card company is satisfied with your credit score, they can deny your application, or withdraw your credit card benefits.
How to Check your eligibility for cash from a credit card
Checking for your eligibility for cash from a credit card is quite straightforward. All you need to do is head down to the website of your credit card company and look for the listed criteria. You can also get in touch with the company in person for the same. For more details regarding your eligibility and the amount of cash you can withdraw from your credit card, you can log in to your account from the company website using your credentials. You can also get information about how to get a credit card.
When it comes to easy credit without your eligibility holding you down, the Bajaj Finserv RBL Bank SuperCard can be your perfect companion. The Bajaj Finserv RBL Bank SuperCard has features of the cash card, the credit card, the loan card and even the EMI card, making your credit transactions even more accessible.
If you apply for the Bajaj Finserv RBL Bank SuperCard today, you can enjoy exclusive benefits like interest-free cash withdrawal, an annual fee waiver. If you enjoy going to the movie with your loved one, the Bajaj Finserv RBL SuperCard awards you with 1+1 movie tickets from BookMyShow, depending on your withdrawals.