If you are working or doing business then you can apply for a credit card on the basis of income, but can a housewife also apply for a credit card? The answer is, yes. Housewives can also use credit cards in their own name. Yes, there are some conditions for this by banks or credit card issuers. There are some rules, following which any housewife can get a credit card.
Can apply with condition
According to IDFC First Bank, any housewife must be at least 18 years of age at the time of applying for a credit card. Also he should be an Indian citizen. They should have a fixed deposit account (FD account) in cumulative, reinvestment and auto renewal mode. Credit cards provide housewives with financial freedom and the ability to increase their savings.
Also, she can shop easily with offers like reward points and cashback. The credit limit of a credit card depends on the amount saved in your fixed deposit. The credit card offers a minimum credit limit of 100% of your FD value and can go up to 200% of your FD value.
Can apply as add-on card or secure card
Eligibility for credit cards for housewives depends on the type of card. Firstly, a housewife can apply for an add-on card linked to her husband's credit card. Husband's income will determine the credit limit for the add-on card. Second, housewives can get secured cards backed by fixed deposits (FDs). Fixed deposits act as security against credit limit. Some credit cards have minimum income requirements. Housewives can also show alternative income sources to apply for the credit card.
keep one thing in mind
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