No regular income? Here’s how self-employed professionals in India can still get a credit card

With more Indians choosing self-employment, whether through freelancing, contract work, or starting their own businesses, the non-traditional workforce is growing rapidly. While this offers flexibility and independence, it can also make it harder to get financial instruments such as credit cards, especially without a steady monthly income.

Are you self-employed in India and want to get a credit card? This guide has everything you need to know.
Can you get a credit card when you are self-employed?

Self-employed persons can certainly be issued a credit card in India. But the process of getting approved mostly depends on:

Verified income (business statement or ITRs).
Having a good credit score.
Providing proof of stable business.

When it comes to self-employed professionals, such as independent contractors, doctors, architects, consultants, traders, and business owners, credit card issuers usually have a slightly different set of criteria than salaried individuals.
Credit card eligibility criteria for the self-employed

Even though each issuer defines different eligibility standards, the general criteria are:

Age range: 21 to 65.
Annual income: Minimum ₹2 lakh to ₹5 lakh (verified by ITR).
Years of business: 1 to 3 consecutive years.
Desirable credit score: 700 or higher.
Nationality: Citizen of India.

Credit card documents required for the self-employed

For self-employed individuals, the following are required:

Aadhaar and PAN cards.
Income Tax Returns (ITRs) for one to two years.
Bank statements for the last six months.
Proof of business registration or proof of a professional license.
One recent passport-sized photo.
Proof of identity and office address (if applicable).

Top credit card options for the self-employed in India

(Source: BankBazaar)
Can a housewife get a credit card in India?

Indeed, homemakers without a job and no income can get a credit card.
Options available:

Secured credit cards against fixed deposits.
An add-on credit card to a family member’s credit card.
Joint credit cards with the spouse as the primary cardholder.
Could receive a basic card with a limit (provided she has a good savings balance).

Tips to improve credit card approval chances for self-employed

File ITR regularly and have at least two years of tax history.
Keep your turnover or infusion in your business constant.
Take credit sparingly and pay your EMI on time.
Apply to credit card providers with whom you already have a good working relationship.
If you are new to credit, start with a secured credit card against an FD.

Benefits of credit cards for self-employed

Obtaining credit for a short period of time is not difficult.
Helps you track business and tax expenditures.
EMI options, discounts and cashback.
Allows the development of a credit history for the individual and the business.
Assistance for contactless and cross-border transactions.

In conclusion, those days when only salaried people could apply for plastic money are over. All across India, credit cards with flexible eligibility are becoming available for people from all professions. The right credit card can give you convenience and financial freedom, whether operating a small business, running a home bakery or doing freelance work.