Being self-employed means you’re your own boss, managing your income and expenses on your own terms. While this independence is rewarding, it comes with unique financial needs. Unlike salaried employees with a steady paycheck, self-employed individuals often deal with fluctuating income, irregular cash flow, and business-related expenses.
Credit cards can be a helpful tool for managing these financial ups and downs. They offer a convenient way to cover expenses, build credit, and even access rewards or benefits tailored to business needs. Whether it’s buying supplies, paying bills, or handling emergencies, a credit card can make a big difference in how you manage your money.
However, applying for a credit card as a self-employed person can be tricky. Many banks prefer stable income proof, which isn’t always easy to provide when you run your own business or freelance. This creates challenges in getting approved for the right credit card.
In this guide, we’ll walk you through how to apply for a credit card if you’re self-employed and explore the options that work best for your lifestyle and financial needs. Let’s get started.
Credit Card Eligibility for Self Employed
To apply for a credit card, one must be eligible. The following are the eligibility criteria for self-employed individuals to apply for a credit card.
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01
Age
Self-employed individuals applying for a credit card should be at least 25 years old. The maximum age limit for self-employed individuals to apply for a credit card is 65 years.
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02
Credit score
To be able to apply for a credit card, it is important to maintain a credit score of 750 or above.
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03
Credit history
A long credit history is important for self-employed individuals. This is because only individuals with a good and long credit history can be trusted with high credit limits and big loans. One way to build a good credit history is to ensure you repay your dues on time and never miss out on a payment. Only if you have a good credit history will your application be eligible. Moreover, the banks will also have the confidence that you have financial discipline.
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04
Income
Self-employed individuals must ensure they have a certain minimum income as specified by the bank to apply for credit cards. Banks usually check whether you are earning a certain level of income to repay your loans. Different banks have different minimum income levels, and you must check your bank’s criteria before applying for a credit card.
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Documents Required for Credit Card for Self-Employed
Once you meet the eligibility criteria, you must keep the following documents ready to apply for a credit card.
Passport size photographs
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Identity proof
Any government ID is considered valid identity proof. Banks accept PAN Card, Aadhar Card, Driver’s License, Voter ID or Passport as valid ID proof.
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Address proof
Aadhar Card, utility bills and Passport are considered valid address proof.
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Income proof
A valid proof of income for a self-employed individual is Form-16, Income Tax Returns, certified financial documents, and proof of business continuity,
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Bank statements
As a self-employed individual, you must also provide six months of bank statements.
How to Apply for a Credit Card if Self Employed
To apply for credit as a self-employed individual, you must follow the steps below.
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Shortlist the card
There are so many credit cards in the market for self-employed individuals, and you must select the card that will suit your requirements.
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Check the eligibility
Each credit card has different eligibility criteria. Ensure you check and qualify for the eligibility criteria of the credit card you selected.
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Keep the documents ready
Once you meet the eligibility criteria, prepare all necessary documents. Banks always specify the documents they need on their website.
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Fill out the application form
You can visit the nearest branch of the bank or fill out the application form for the credit card online. Make sure you input all the necessary information correctly.
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Submit the application
Once you fill out the application, submit it along with the documents. In the case of an online application, you can upload the documents. If you are physically submitting the application, attach a copy of all the documents.
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Wait for the bank’s approval
Once you submit the documents, banks usually take a couple of days to review your application and make a decision. They will communicate their decision through email and text messages.
Features to Look for in Self-Employed Credit Cards
When choosing a credit card as a self-employed individual, it’s important to think about a few things that can make managing your finances easier. Here’s what you should consider:
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1. Credit Limit Offered
Check how much credit the card provides and whether it suits your spending needs. A higher credit limit can be helpful, but make sure it matches your ability to pay off the balance.
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2. Interest Rates
Look at the interest rates for purchases and cash withdrawals. Lower rates can save you money if you ever need to carry a balance.
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3. Joining and Annual Fee
Some cards come with joining or annual fees. Make sure the benefits you’ll get from the card justify these charges.
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4. Reward Programs
Many cards offer rewards like cashback, travel points, or discounts on shopping. Choose one with rewards that fit your lifestyle and spending habits.
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5. Additional Fees and Charges
Be aware of extra charges like late payment fees, over-limit fees, or foreign transaction fees. These can add up if you’re not careful.
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6. Customer Support
Good customer service can be a lifesaver if you run into issues. Look for a card provider known for being responsive and helpful.
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7. Eligibility Criteria
Check if the card’s eligibility requirements align with your income and business structure. Some cards may have flexible options for self-employed individuals.
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8. Security Features
A card with strong security features, like fraud alerts and transaction monitoring, can help protect you from unauthorised charges.
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9. Online Banking and Mobile App
Managing your credit card through an app or online platform can make tracking expenses, making payments, and accessing statements much easier.
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10. UPI Transactions
Cards that support UPI payments can add convenience, letting you use your card in more places and for quick transactions.
Best Credit Card for Self Employed
The “best” credit card for a self-employed individual depends on their specific spending habits and financial goals. However, here are a few options that are generally considered good choices for self-employed individuals in India:
| Credit Card | Joining Fees | Lifetime Free | Annual Fee |
| Jupiter Edge CSB Bank RuPay Credit Card | NIl | Yes | NIl |
| IDFC Bank FIRST WOW Credit Card | NIl | Yes | NIl |
| HDFC Giga Business Credit Card | ₹500 + GST | No | ₹500 + GST |
| HDFC Bank BizGrow Credit Card | ₹500 + GST | No | ₹500 + GST |
| ICICI Bank Business Gold Credit Card | NIl | Yes | NIl |
| SBI SimplyCLICK Credit Card | ₹500 | No | ₹500 |
| Axis Bank Ace Credit Card | NIl | Yes | NIl |
1. Jupiter Edge CSB Bank RuPay Credit Card
Joining Fees
NIl
Lifetime Free
Yes
Annual Fee
NIl
Card Details
- No annual or joining fee—this card is free for life.
- Use UPI with your credit card: Scan and pay any QR code directly.
- Manage your card with one-click controls—freeze, reset PIN, or adjust limits.
- Get insights into your spending for better budgeting.
2. IDFC FIRST WOW Credit Card
Joining Fees
NIl
Lifetime Free
Yes
Annual Fee
NIl
Card Details
- FD-backed credit card—no income proof or credit history required.
- Minimum FD amount: ₹20,000 with interest of 7.25% on your deposit.
- Annual fee of ₹199 + GST from the second year (first year free).
- Enjoy exclusive discounts on partner brands like Swiggy, Marriott, and more.
- Increase your card limit easily with a quick online process.
3. HDFC GIGA Business Credit Card
Joining Fees
₹500 + GST
Lifetime Free
No
Annual Fee
₹500 + GST
The HDFC GIGA Business Credit Card is tailored for entrepreneurs, small business owners, and self-employed individuals who need a card that supports their business expenses. It comes with a host of business-related benefits, including cashback on essential purchases like software, accounting tools, and even tax payments. Whether you’re growing your business or need a card for large business purchases, this card offers plenty of ways to save.
Card Details
- Annual fee of ₹500 + GST (waived if you spend ₹50,000 in a year).
- Save up to ₹53,000 annually with business-related benefits.
- 55-day interest-free credit period.
- Fuel surcharge waiver of 1% (up to ₹250 per statement cycle).
- Avail EMI and loans for business purchases directly on the card.
- Rewards can be redeemed as cashback, travel bookings, or products.
- Zero liability on lost card if reported immediately.
4. HDFC Bank BizGrow Credit Card
Joining Fees
₹500 + GST
Lifetime Free
No
Annual Fee
₹500 + GST
Card Details
- Annual Fee: ₹1,000, which can be waived if your total annual spending crosses ₹1,00,000.
- Fuel Surcharge Waiver: Get 1% cashback on fuel purchases, with a limit of ₹250 per cycle.
- Business Travel Perks: Enjoy a 4% discount on flights and hotel bookings through MMT MyBiz.
- Dining Discount: Save up to 20% at over 20,000 restaurants when you pay through Swiggy Dineout.
- Card Activation: Get a ₹250 gift voucher when you make a transaction within the first 37 days after activation.
- Business Insurance: Access a business insurance package starting at ₹3,785 annually, offering coverage for things like fire, theft, and business equipment.
5. ICICI Bank Business Gold Credit Card
Joining Fees
NIl
Lifetime Free
Yes
Annual Fee
NIl
Card Details
- Annual Fee: ₹0 (Lifetime Free Credit Card)
- Fuel Surcharge Waiver: Get a 1% waiver on fuel transactions at HPCL pumps, with a maximum of ₹500 per month.
- Personal Accident Coverage: The card provides personal accidental death cover up to ₹10 lakh for the cardholder.
Additional Benefits
- Visa IntelliLink for Small Business: Get access to Visa’s Spends Analysis Dashboard, which helps you track and manage your business expenses.
- Complimentary Access: Enjoy access to special Visa offers and discounts that can help you save on business and personal purchases.
6. SBI SimplyCLICK Credit Card
Joining Fees
₹500
Lifetime Free
No
Annual Fee
₹500
Card Features
- Annual Fee: ₹499 + taxes. You can get this fee waived off for the next year by spending ₹1,00,000 or more in a year.
- Fuel Savings: A 1% fuel surcharge rebate is available on fuel purchases between ₹500 and ₹3,000, excluding GST. The maximum rebate is ₹100 per transaction, with a cap of ₹500 per month.
- Contactless Payments: The card is equipped with Visa payWave technology, enabling quick and secure payments with just a tap.
- Global Acceptance: You can use your SBI SimplyCLICK Credit Card at millions of stores worldwide that accept Visa or MasterCard, making it a versatile card for both domestic and international purchases.
- Balance Transfer: Transfer outstanding dues from other credit cards to your SimplyCLICK SBI Card at a reduced interest rate, and pay it back in easy installments.
7. Axis Bank Ace Credit Card
Joining Fees
NIl
Lifetime Free
Yes
Annual Fee
NIl
Card Features
- Lounge Access: Relax before your flight with four free lounge visits each year at select domestic airports.
- Fuel Savings:
- Save with a 1% fuel surcharge waiver for purchases between ₹400 and ₹4,000, with a maximum monthly benefit of ₹500.
- GST on fuel surcharges is not refundable.
- Dining Discounts: Get up to 20% off at thousands of restaurants across India with their Dining Delights program.
- EMI Option: Turn any transaction over ₹2,500 into easy EMIs by contacting the bank.
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Conclusion
Getting a credit card when you are a self-employed individual can be slightly difficult but not impossible. You will have to give additional documentation, fit into the eligibility criteria, maintain a good credit score, and earn a certain level of income. Doing all this can seem challenging, but it can be very rewarding as these credit cards offer a host of benefits that can elevate your lifestyle and save a lot of money on regular expenses.
Frequently Asked Questions (FAQs)
What is the minimum salary for a self-employed credit card?
The minimum salary for a self-employed credit card can range between 14 lakhs to 25 lakhs per annum. However, each bank has a certain criterion, and it is best to check with the bank before you apply.
Which bank gives credit cards to the self-employed?
All major banks give credit cards to the self-employed. Some of the banks are SBI, ICICI, HDFC Bank, Axis Bank, Citi Bank, and AU Small Finance Bank.
Do self-employed get loans?
Yes, self-employed individuals can get loans from any bank they choose. The documentation needs are slightly different in this case, but the process is pretty straightforward.
How old should I be to get a credit card under the self-employed category?
The age criteria for self-employed credit cards range between 25 and 65 years of age.
How can I improve my chances of getting a credit card?
You can check the eligibility of the credit card and make sure you fit into the criteria. Then, check for features, fees, and interest rates and choose the card that suits your resources and requirements the best.
Can self-employed people get a credit card?
Yes, if you're self-employed, you can apply for a credit card. You'll just need to show proof of your income, like tax returns or bank statements.
What documents are needed for income proof?
You can use things like your Income Tax Returns, bank statements, or profit and loss statements as proof of income when applying for a credit card.
