Credit cards are one of the most commonly used financial instruments, which are used these days. It is a wonderful system, wherein, a user is vested with the advantage of purchasing goods and services, even though he might not be available with ready cash, buy now and pay back later- is the new age phenomenon and everybody seems to believe it. However, few people actually remember that this is not at all a free service and therefore you will have to pay for it as well. Since a credit card company is bearing a certain amount of risk, by making payment on your behalf, therefore, it would fully satisfy itself, before accepting your credit card application.

In recent times, there has been a massive rise in the number of default cases in credit card payments. As a result of this, the financial institutions have become very stringent, when it comes to issuance of credit cards. Unlike earlier days, when every Tom, Dick or Harry could get a credit card sanctioned easily, these days, applicants are required to go through a number of formalities and a card is issued only after proper screening of the applicant has been conducted.

In any case, an applicant is required to furnish some information to the credit card companies, in order to get your credit card application sanctioned. The following are some of the information, which you are required to furnish:

1. Identity proof:

One of the most important aspects in regard to the application is pertaining to your own identity. You will be required to furnish the company with valid proof of your identity, since the company needs to know, that you are the same person that you claim to be. Various documents, such as valid Drivers License, valid Passport, Age Card, citizenship documents, etc. are various documents, which are used for establishing your identity. Hence one or more of these can be put to use.

2. Income proof

Another major concern for a company, if it is extending credit to you, is that whether or not, you would be able to pay for it. You are therefore required to provide valid proof of your regular income. This may include your salary slips, tax return statements, or bank account statements. The requirements differ from company to company, however, most of the times, companies ask for records of five to six months.

3. Address proof

A company may also ask fro a valid address proof, which includes documents, such as utility bills (gas, electricity or home/mobile monthly telephone bill), building society statement, as well as bank statements if addressed to your home. Apart from that some companies also accept household/motor policy insurance documents as well.

Apart from these, a company may also ask for other documents as well, depending upon the card that you are selecting.