How to generate credit score for the first time

mkkhatri

KF Rookie
Hy There , I want to know how to start generating credit score!
I don’t have any credit history and my score is N/A
So what should i do for that please reply
 

arjungoyal12

KF Mentor
Hy There , I want to know how to start generating credit score!
I don’t have any credit history and my score is N/A
So what should i do for that please reply
Do you have any income source? If yes, do you file ITR? With an income source, it will be easy for you to get credit card without any FD or something
 

cardy

KF Expert
Get a fd backed credit card..

Idfc wow will be best right now.. with 5k fd..
This is the right way to go @mkkhatri
You should consider opening a FD based card.

And it's completely ok to open a 5k FD credit card for generating credit score.

But I would like to recommend you to make a FD of 40-50k or more if you can. So that after six months or one year you will be able to apply card to card for unsecured credit cards very easily and will get somewhat matching limit.
 

Prince

KF Ace
You can apply for Pay Laters also, such as Flipkart and Amazon and use the same for few months, with timely re-payment.
It will be easiest way without putting any money.
 

Gigachad

KF Mentor
This is the right way to go @mkkhatri
You should consider opening a FD based card.

And it's completely ok to open a 5k FD credit card for generating credit score.

But I would like to recommend you to make a FD of 40-50k or more if you can. So that after six months or one year you will be able to apply card to card for unsecured credit cards very easily and will get somewhat matching limit.
With high limit you can also apply for c2c credit card.
 

omborad

KF Rookie
Hy There , I want to know how to start generating credit score!
I don’t have any credit history and my score is N/A
So what should i do for that please reply
Getting fd backed credit card and use regularly 40% of the limit per month, and pay before your due will get you good score,
If you can't get fd backed credit card and you can apply for urban credit card Kotak Mahindra Bank which requires zero balance account in Kotak Mahindra Bank and use it same way. It will help to build credit score and then you can apply for more credit cards as well.
 
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