Benefits of the IDBI Bank Premier Credit Card

• Enhanced Financial Flexibility: The IDBI Bank Premier Credit Card empowers cardholders with significant financial freedom. The interest-free credit period of up to 50 days allows users to make purchases without immediate cash outflow, ideal for managing large expenses like travel or home appliances. The EMI conversion facility lets cardholders spread the cost of big-ticket items over manageable installments, with interest rates starting at 1.5% per month. This benefit is particularly valuable for professionals who need to balance cash flow while maintaining their lifestyle.
• Rewarding Everyday Spending: Every transaction with the Premier Credit Card turns into an opportunity to earn rewards. The 4 Delight Points per INR 100 spent translate into substantial savings when redeemed as cashback (1 point = INR 0.25) or for vouchers from top retailers. For instance, spending INR 50,000 monthly could earn 2000 points, equivalent to INR 500 cashback. High spenders receive accelerated points on international transactions (5 points per INR 100), making it ideal for globetrotters. This reward structure ensures that routine and luxury purchases alike yield tangible benefits.

How to Apply for the IDBI Bank Premier Credit Card

• Required Documents:
  • Identity Proof: PAN card, Aadhaar card, Passport, or Driving License.
  • Address Proof: Utility bill (last 3 months), Rental Agreement, Aadhaar, or Passport.
  • Income Proof:
    • Salaried: Last 3 months' salary slips, bank statement, or Form 16.
    • Self-Employed: ITRs (2 years), business registration certificate, and bank statement.
  • Photographs: One recent passport-size photograph (within last 6 months).
• Online Application:
  • Visit IDBI Bank’s official website.
  • Go to the ‘Credit Cards’ section and select the Premier Credit Card.
  • Click “Apply Now” and fill in personal, employment, and income details.
  • Upload scanned copies of the required documents (PDF or JPEG format).
  • A bank representative may contact you for further KYC verification.
• Application via Branch Visit:
  • Visit your nearest IDBI Bank branch.
  • Request and fill out the credit card application form with accurate details.
  • Attach self-attested copies of required documents and submit them to the branch officer.
  • Bank staff will verify your details and give you an acknowledgment receipt.
• Phone Banking Application:
  • Call IDBI Bank’s 24x7 customer care at 1800 425 7600.
  • Provide basic details such as your name, contact info, and income range.
  • The executive will guide you through the next steps and arrange document pickup if needed.
• Post-Application Steps:
  • The bank verifies your application, credit history, and submitted documents.
  • Address and identity verification may be done via physical or tele-verification.
  • If approved, the card is dispatched via Blue Dart or India Post within 7 working days.
  • You will receive tracking details via SMS and email.
• Tracking Application Status:
  • Track your application using the reference number via the IDBI website or GO Mobile+ app.
  • Alternatively, call customer care for real-time updates.
• Card Activation:
  • Activate your card via IDBI GO Mobile+ app or customer care.
  • If delivered in inactive status (via India Post), activation is required before use.
• Tips for Smooth Approval:
  • Maintain a good credit score by paying dues on time and avoiding multiple applications.
  • Regularly follow up on your application through official channels.

Eligibility Criteria for IDBI Bank Premier Credit Card

• Age Requirements:
  • Salaried Individuals: Must be between 21 and 60 years of age.
  • Self-Employed Professionals: Age limit extends up to 65 years to support entrepreneurial applicants.
  • Add-On Cardholders: Minimum age of 18 years. Ideal for spouses, children, or dependent parents.
• Nationality and Residency:
  • Indian Residents: Must provide valid Indian address proof and KYC documents.
  • NRIs: Must submit Indian passport and overseas address proof (e.g., utility bill, visa, or work permit).
• Income Stability:
  • Salaried Applicants: Should have a steady job with a reputed organization. Minimum income not disclosed publicly but must be adequate to support credit usage.
  • Self-Employed Individuals: Should provide proof of consistent business income through ITRs and bank statements.
  • Alternate Option: Can apply against a Fixed Deposit if income documents are not strong (secured card variant).
• Employment Status:
  • Salaried: Preferably with minimum 1-year tenure in current employment.
  • Self-Employed: Business/profession should be active for at least 1–2 years, supported by registration or licenses.
• Creditworthiness:
  • Credit Score: A score of 700 or higher is preferred for better approval chances.
  • Past Credit Behavior: Should show consistent repayment history without defaults, late payments, or high utilization.
• Existing Relationship with IDBI Bank:
  • Having a savings/current account, FD, or other product with IDBI may increase approval likelihood.
  • Frequent and healthy account activity reflects financial discipline.
• Debt-to-Income Ratio:
  • Should ideally be below 40% to prove repayment capacity.
  • Applicants with multiple credit cards or ongoing EMIs may face stricter evaluation.
• KYC and Documentation:
  • Valid Aadhaar, PAN, and income documents required.
  • NRIs need to submit passport, visa/OCI/PIO card, and proof of residence.
• Application Accuracy:
  • All information in the application must match submitted documents.
  • Errors, mismatches, or incomplete forms may delay or deny approval.
• Bank’s Internal Policies:
  • Approval is subject to IDBI Bank’s internal risk models and market-specific factors.
  • Applicants with over 7–8 existing credit cards may be scrutinized further for over-leverage.