In collaboration with Bajaj Finserv, DBS Bank offers two credit cards tailored for customers from every segment. These cards offer many benefits, including cashback, rewards points on purchases, discounts on shopping, exclusive lifestyle offers, and so on.
You can apply for a credit card offered by the bank and even get instant approval, depending on your application. You can choose from the Bajaj Finserv DBS Bank 5X Rewards Credit Card or the Bajaj Finserv DBS Bank 5X Plus Rewards Credit Card.
Read on to learn how you can improve your chances of getting instant approval on your Bajaj Finserv DBS Bank credit card application.
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Benefits Offered by Bajaj Finserv DBS Credit Cards
Here are some of the benefits you can enjoy when you apply for a credit card from Bajaj Finserv and DBS Bank:
- Get a welcome benefit of up to 2,000 cash points on the first transaction you complete within 60 days of card issuance.
- Earn 2 cashback points for every ₹200 you spend using these cards.
- Earn 5X cash points if you exceed the milestone spending mark.
- Up to a 20% discount via cash points on certain subscriptions
- Waiver on fuel surcharges at petrol stations across the country
How to Get Instant Approval on Your Bajaj Finserv DBS Credit Card
When you apply for a credit card offered under the collaboration of Bajaj Finserv and DBS Bank, the application is subject to review. This means your approval may take some time.
However, there are some actions you can take to improve the chances of instant approval.
Here is an overview of some of these actions:
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- Ensure your credit score remains high.
Every card issuer requires applicants to have a minimum credit score to be eligible for their credit cards. For instance, to get a Bajaj Finserv DBS Bank credit card, you must have a minimum credit score of 720.
A high credit score reflects that you have responsibly managed your finances and cleared your dues. For card issuers, a clear repayment record signifies that you are a low-risk applicant. This makes them less hesitant to approve your application.
So, if you want instant approval on your Bajaj Finserv DBS Bank credit card application, ensure that your score is high when you apply. Besides fast approval, a high credit score guarantees other perks, such as a higher credit limit.
- Avoid multiple loans and high credit utilization.
Having multiple active loans or applying for multiple loans at once can negatively affect your creditworthiness. While multiple loans or loan requests can lead to a drop in your credit score due to hard inquiries, it may also present you as a desperate applicant.
This also makes you a high-risk borrower. Card issuers are generally not very enthusiastic about approving an application if the applicant has a high chance of default. Moreover, exhausting your credit limit can make you a high-risk borrower.
This is because it implies that you need credit frequently and may not have optimal money management habits. This is why it is often recommended that you keep the credit utilization ratio under 30%.
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- Assess if you meet the criteria.
It is prudent to assess how well you meet the eligibility requirements of the Bajaj Finserv DBS Bank credit card. For instance, the lender requires the applicants to be Indian residents aged between 21 and 70 years.
It is crucial that you apply for the card only if you meet all the criteria. If you don’t, the bank will likely reject your application. This can only further harm your credit score. However, if you do meet the requirements, your approval chances may increase.
- Keep the required documents ready.
When you apply for a credit card offered under the Bajaj Finserv and DBS Bank collaboration, you must furnish certain documents. For instance, an Aadhaar card is mandatory to complete the biometric screening process.
Moreover, you may need to attach soft copies of your PAN card, gazette certificate, passport, and marriage certificate. So, ensure you keep soft copies of these documents ready before applying.
The bank will not approve your credit card request if you fail to furnish all the required documents. Your application for a DBS Bank credit card may also get stalled if the submitted documents have an error or are inconsistent with the information provided.
While the above tips can help boost your chances of approval, it is essential to remember that the decision is at the sole discretion of the issuer. If the bank rejects your application, you can get in touch with their executives and understand the reason for the rejection.
You can work on it and then reapply after a while. If all goes well and the bank approves your application, you will receive your Bajaj Finserv DBS Bank credit card within a few days. To apply, all you have to do is visit the official page, fill out the application form, and submit your KYC details.
