Having secured cards helps?

[vikdev]

I have 10+ credit cards for balancing my credit score i have few secured cards, would it work?

 

[arjungoyal12]

Just for the credit score?

 

[vikdev]

Yes, the unsecured card are good for cashback and rewards, but my credit score dropped due to to many cards, thats why i took secured cards

 

[Shiva Tiwari]

Yes they do,
1. To build credit score
2. Act as secure loan good for future
3. Mostly Life time free
4. Teaches how to handle a credit card for beginners.

 

[anuragmukherjee28]

Yes they do,
1. To build credit score
2. Act as secure loan good for future
3. Mostly Life time free
4. Teaches how to handle a credit card for beginners.

Btw what are secured cards ?

 

[Anindya98]

Yes they do help
To build Credit Score + Credit History For Beginners
Mostly open with 2k/5k fd no income proof required
Based on your secure cards you can get unsecured cards in future
Mostly LTF so no annual fees

 

[Santosh]

Btw what are secured cards ?

Secured credit card mean . A credit card issued against Fd . If you default bank have right to collect money from fd

 

[anuragmukherjee28]

Secured credit card mean . A credit card issued against Fd . If you default bank have right to collect money from fd

Ok got it , can you suggest some credit cards which I can get against my fd?

 

[Sayantan]

Ok got it , can you suggest some credit cards which I can get against my fd?

Credit Card Variant Fixed Deposit Required Joining fee/Annual Fee
Axis Bank Insta Easy Credit Card Min. Rs.20,000 Joining fee: Rs.500; Annual fee: NIL
SBI Card Unnati Rs.25,000 First 4 years – NIL 5th year onwards – Rs.499
Kotak Mahindra Aqua Gold Credit Card Rs.25,000 NIL
Union Bank of India Usecure Credit Card Rs.25,000 NIL
YES Prosperity Rewards Plus Credit Card Rs.50,000 Rs.350
YES FIRST Preferred Credit Card Rs.3 lakh Rs.2,500
Bank of Baroda Assure Credit Card Not Available Rs.500
Andhra Bank Visa Classic Rs.10,000 Rs.400
Andhra Bank Visa Platinum Rs.10,000 Rs.400
DCB Payless Credit Card Not Available Rs.350

 

[anuragmukherjee28]

Credit Card Variant Fixed Deposit Required Joining fee/Annual Fee
Axis Bank Insta Easy Credit Card Min. Rs.20,000 Joining fee: Rs.500; Annual fee: NIL
SBI Card Unnati Rs.25,000 First 4 years – NIL 5th year onwards – Rs.499
Kotak Mahindra Aqua Gold Credit Card Rs.25,000 NIL
Union Bank of India Usecure Credit Card Rs.25,000 NIL
YES Prosperity Rewards Plus Credit Card Rs.50,000 Rs.350
YES FIRST Preferred Credit Card Rs.3 lakh Rs.2,500
Bank of Baroda Assure Credit Card Not Available Rs.500
Andhra Bank Visa Classic Rs.10,000 Rs.400
Andhra Bank Visa Platinum Rs.10,000 Rs.400
DCB Payless Credit Card Not Available Rs.350

Thanks for this, will look into it

 

[vikdev]

Ok got it , can you suggest some credit cards which I can get against my fd?

OneCard, LTF
IDFC WOW, LTF

 

[Anindya98]

Ok got it , can you suggest some credit cards which I can get against my fd?

IDFC Wow CC, One Card ,KODAK DREAM, ICICI Coral
All are LTF CARDS

 

[yashsinghania]

They surely help to build your credit score!

 

[anuragmukherjee28]

Out of these, which one is the best , I have only heard about IDFC WOW,

 

[Utkarsh Sharma]

Yes they help in many ways.

 

[vikdev]

Out of these, which one is the best , I have only heard about IDFC WOW,

Used both IDFC WOW and One Card, both are good, but One Card has more offers

 

[Utkarsh Sharma]

It do helps to have secured credit card.

 

[Skylar]

I have 10+ credit cards for balancing my credit score i have few secured cards, would it work?

Do not fall for the trap!
It says balance of secure and unsecure loans

Assum, you have unsecure cards with limit of 5lac and now you take secured card with 5k, will it be balanced?
so unless you are taking a credit card with 5lac FD do not bother balancing secure and unsecure.