By Admin 
Credit Card Rules: For many NRIs, having an Indian credit card is more a convenience than a luxury. In India today, many types of payments have to be made, like paying bills, subscription expenses, family expenses, hotel booking, shopping and sometimes travel plans.
Using Indian cards rather than constantly relying on overseas banking makes these transactions often much easier and, contrary to what many people think, NRIs can get Indian credit cards at all. In fact many Indian banks advertise cards exclusively to NRI customers. However, this method is usually not as easy as it is for applicants living in India.
Paperwork can be difficult
Actually, most of the NRI applicants get worried about the paperwork. The reason for this is clear, banks often ask for many types of documents, like copy of passport, visa documents, proof of address abroad, PAN information, job related letters and documents of salary received abroad. Some banks may also ask for proof of address in India.
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From an NRI’s perspective, the entire process can sometimes seem like applying for a card and recreating your entire financial identity on paper, and depending on which country you live in, compliance checks can be more stringent as banks now operate according to more stringent international verification rules.
Fixed deposit-based card is the easiest thing to do
The most interesting thing is that many NRIs who find it difficult to get regular approval end up choosing the easier route – ‘Secured Credit Card’. These cards are issued in exchange of fixed amount or amount deposited in the bank. Since deposits act as security, banks are more willing to approve them. Even for many people especially after a long stay abroad, it becomes an easy way to restart or maintain an Indian credit profile. Considering time, regular usage and timely payment can also improve the terms of getting a better card later.
Financial clarity is important for banks
Financial clarity is very important for the bank. For most banks, the real issue is not whether one is an NRI. What they really need is reliable conditions. It is more important than the place of residence (residency status). Stable earnings, clean banking record, good loan repayment record and a complete history of some financial transactions in India. In such a situation, NRIs who are already connected to the Indian banking system often find that getting a credit card is much easier than they initially expected.
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