AMEX Credit Card Without Income Proof: However, to avail of a AMEX Credit Card Without Income Proof In India, you need to conform to a list of terms and conditions. Without Income Proof AMEX Credit Card, Apart from basic identity and age-related criteria, most issuers require you to earn the minimum salary for credit card approval. This criterion helps them gauge whether you have adequate income to repay the credit you use. Thus, availing of a AMEX Credit Card Without Income Proof is not an easy task. Fortunately, there are many other ways through which you can get a AMEX Bank Credit Card Without Income Proof. Read on to know what they are.
About AMEX Bank?
American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was founded in 1850 and is one of the 30 components of the Dow Jones Industrial Average.The company’s logo, adopted in 1958, is a gladiator or centurion whose image appears on the company’s well-known traveler’s cheques, charge cards, and credit cards.
Why should you have AMEX Credit Card Without Income Proof?
Credit cards are a useful and powerful financial instrument in current times. It helps you to deal with a short-term cash crunch such as paying a bill at a restaurant at the end of the month. Credit cards can take care of small expenses, which you can repay with your next month’s salary.
Moreover, making timely payments of your AMEX Credit Card bills helps you keep your build and maintain a high credit score. This improves your creditworthiness in the eyes of the banks and non-banking financial institutions (NBFCs). A good credit history allows you to get loans or even new AMEX cards quite easily. Also, many credit cards come with certain features and facilities that you can benefit from. For instance, you can get easy lounge access in many airports with a credit card. Likewise, you can get points that can be redeemed with every payment made through a credit card.
How to Apply for a AMEX Credit Credit without Income or Salary Proof?
Credit card providers want almost every applicant to get a AMEX Credit Card Without Income Proof; however, it cannot be done at the cost of non-repayment or delayed credit card bills. Hence, credit card providers need to ensure how you are going to repay, and it is only after that, that they can offer a credit card to an applicant.
Though nowadays banks provide credit cards to individuals without taking any income proof, an individual would be better suited to know the below-mentioned steps when it comes to availing AMEX Bank Credit Card Without Income Proof. To apply for a AMEX Credit Card Without Income Proof or salary proof, you can choose either of the following ways-
10 Ways To Get AMEX Credit Card Without Income Proof
1. Show The Employment Letter
Now if you have been newly appointed to a job and it is your first job, you will not have any income proof for AMEX Bank Credit card. Hence, in this case, you can always show your employment letter or offer letter to the bank officials which mentions your annual package. This depicts your earning potential and gives the lenders a sense of security that the amount used through the AMEX Bank credit card will be repaid.
2. AMEX Credit Card Without Income Proof For Students
Although AMEX Credit Card Without Income Proof For Students are not so popular, some credit card providers extend the facility. AMEX Bank Student credit cards usually come with lower credit limits to meet the specific requirements of the students. However, these AMEX Credit Cards have limitations on usage and generally require collateral. So, students will have to show part-time job proof or get a card against any kind of Fixed Deposit or Savings Account with the issuer. AMEX Student Credit cards do not have many features unlike other credit cards but they come with NIL or very low joining charges and annual fees.
3. AMEX Secured Credit Card
Many credit card issuers grant a Secured AMEX Credit Card Without Income Proof if you pledge a fixed deposit or salary account as collateral. The FD or bank account will act as security, thus assuring the issuer that you will make timely repayments in case you are facing any financial crunch. Generally, the credit limit on secured cards is capped at 75% to 90% of the FD’s value. Accordingly, in case your bank account is offered as collateral, your credit limit will be capped as per the account’s balance.
4. AMEX Secured Credit Card against Fixed Deposit
One of the best and most common ways to get a AMEX Credit Card Without Income Proof is to get it against a fixed deposit. When you get a AMEX Credit Card against collateral such as a fixed deposit, it is known as a AMEX secured credit card. In general cases, the card issuer acts as the lender that lends to the borrower/credit card user only on the basis of income, which is known as an unsecured credit card. However, in the case of secured credit cards, there is no other security to the lender apart from fixed deposits if the card user delays/missed payments. Card issuers usually cap the card limit at 75-90% of the fixed deposit’s balance amount.
5. Secured AMEX Bank Credit Card against Mutual Funds
Just like a credit card against a fixed deposit, one can apply for a AMEX Credit Card without income proof by pledging mutual funds. This also counts as a secured credit card as banks/card issuers can use the holdings or mutual fund returns of the defaulters. They can acquire it to get the money back for credit that they lend to those who fail to repay.
6. AMEX Credit Card Without Income Proof For Freelance Jobs:
Even if you lack income proof, you can showcase your consolidated income through various freelancing jobs and get AMEX Bank Credit Card Without Income Proof. This will have a positive impact on the credit card issuer as they can determine your capability to make timely bill payments. Even if you cannot furnish proof of income, you can showcase your freelance career proof and convince the issuer.
7. Add-On AMEX Credit Card Without Income Proof
Another way to get a AMEX Credit Card Without Income Proof or salary is by requesting an add-on credit card. If a family member has a primary credit card, the issuer may approve of an additional card. Here, it’s important to note that the add-on and primary cardholder share a credit limit. Also, when approving an add-on AMEX Credit Card, the issuer only checks the primary cardholder’s credit score and history, thereby eliminating the need for your income proof.
8. An account with a Sufficient Balance
There could be times when you are unable to furnish proof of present income but have a healthy bank balance can get you AMEX Credit Card Without Income Proof. This could be when you decide to retire early or have gathered sufficient income and are opting for a break from work. In such cases, the available funds act as an assurance about your capability to make timely repayments without a chance of default.
9. Joint AMEX Bank Credit Card
Whether you are a young professional teaming up with your father or a non-salaried person applying jointly with your spouse, getting a creditworthy co-signer is a smart way to secure a credit card. Here, the creditworthiness and financial power of the other individual is leveraged to your advantage. In this way you can get AMEX Credit Card Without Income Proof.
10. Good Banking Relationship
At times, you may not have any current income but you surely have a wealthy account balance. This might happen in the case where an applicant has retired at an early age or has earned well and for the time being has decided to take a break from work. But he has a great account balance and a healthy relationship with the bank. Hence. The availability of funds in the borrower’s account gives an assurance to the card issuer that the repayments will be made without any default.
Important Factors that Affect AMEX Creditworthiness
Whether you go with an offline or an online application for a AMEX Credit Card Without Income Proof, there are a few factors that you must keep in mind. These factors affect your credibility and creditworthiness as a card user or credit borrower. Make sure you maintain the following criteria for AMEX Credit Card Without Income Proof.
1. Good Credit Score & Credit History
It is important to maintain a good credit score by making timely payments of loans and existing credits. Missed or delayed payments affect the credit score and lead to a poor credit history, which disapproves of your AMEX Credit Card Without Income Proof in the eyes of credit card issuers. You can now check your credit score with Paytm in a few simple steps. With a good score, you can also apply online for a credit card without salary slips.
2. Bank Account
The foremost important thing is to have a bank account. Mostly, all card issuers give a credit card against a bank account that acts as a credible source for the providers. Bank balance can include salary income, self-employment source of income, as well as a business income source. It can also have a retirement fund or income from other investments.
3. Have a Financial Plan
Having a financial plan of savings, investment and expenditure always helps to keep a check on the user’s spending habits as well as cash reserves. It also keeps you away from frequent credit requirements and does not let you pile up your debt by making timely repayments. The issuers can see that you manage your finances wisely and that you have the discipline to pay on due dates.
4. Credit and Debt consolidation
All loan providers, card issuers, and credit lenders check the existing debt and the credit history as per your repayment behavior. They check whether or not you have a large outstanding debt amount before issuing AMEX Credit Card Without Income Proof or if too many loans and debts exist in your credit history. So, first of all, you must try to clear off the debt as much as you can before applying for a credit card. Make sure you have NIL or a minimal amount to pay off. Also, if you have too many loans, then consider consolidating them into one and repaying them as quickly as possible. Too many loans create a negative impression of debts piling up.
AMEX Credit Card Without Income Proof Documents Required
The documents required to apply for a AMEX Bank Credit Card Without Income Proof are:
- Bank statements/bank account details
- Address proof such as Aadhaar, Voter card, lease/rent agreement, property papers, ration card, etc.
- PAN Card
- Details of fixed deposits (FD) or mutual funds (MF) for a secured credit card (CC)
- Identity evidence like Aadhaar, Voter ID, passport, driving license, etc.
- Enrollment slips, admission papers, college IDs, and others for students
- Age proofs such as birth certificates, school certificates, etc. for students
You can use above mention documents for AMEX Credit Card Without Income Proof.
FAQ (AMEX Credit Card Without Income Proof)
Can I Get A AMEX Credit Card Without Salary Slips?
In the absence of salary slips, you can still obtain a credit card by offering a fixed deposit account as collateral. In case one of the family members already has a credit card, you can try for an add-on or supplementary card application.
Can I Get A Credit Card If I Don’t Have Income Tax Return?
Yes, you can get a AMEX Credit Card Without Income Proof even if you don’t have an Income tax return since credit card issuers generally do not require IT returns from applicants.
Can I Get A Credit Card Without A Job?
Can AMEX Credit Card Be Obtained Only With Income Proof?
Most credit card issuers require proof of income at the time of making a credit card application. However, this is not necessary if an applicant can submit alternatives like bank statements.
Credit cards open up a bunch of financial possibilities. They can help in times of need when dealing with cash shortages. They have reward points for each transaction and are feature-packed. Although most credit card providers need income proof, you can still apply for a AMEX Credit Card Without Income Proof by showing other modes of repayment such as getting a credit card against fixed deposits, mutual funds, bank accounts, etc.
Thank You Read this post for: AMEX Credit Card Without Income, Without Income Proof AMEX Credit Card, AMEX Credit Card Without Income Proof Documents Required, AMEX Credit Card Without Job, AMEX Bank Credit Card Without Income Proof Eligibility, AMEX Credit Card Without Salary, AMEX Credit Card Without Income Proof For Students, AMEX Credit Card Without Salary, AMEX Bank Credit Card Without Income Proof In India, AMEX Credit Card Without Income Proof, AMEX Bank Credit Card Without Income Proof Required Documents, AMEX Credit Card Without Account, AMEX Credit Card Without Income Proof Statement, AMEX Credit Card Without Income Proof Use,
For Tag: Without Income Proof AMEX Credit Card, AMEX Credit Card Without Income, AMEX Credit Card Without Job, AMEX Bank Credit Card Without Salary, AMEX Credit Card Without Income Proof, AMEX Credit Card Without Account, AMEX Secured Credit Card, AMEX Credit Card For Students, AMEX Bank Secured Credit Card, AMEX Secured Credit Card on Fixed Deposit, AMEX Bank Credit Card against Mutual Funds, AMEX Credit Card Without For Freelance Jobs, Add On AMEX Credit Card, Joint AMEX Credit Card