I m 20 year old Need a credit card
- Thread starter Abyadav
- Start date
Personal Finance by Nish…
KF Mentor
With a 4-month credit history and a CIBIL score of 714, you might face challenges getting a credit card without a fixed deposit. However, some banks offer credit cards to young adults with limited credit history.
Possible Options
1. Secured Credit Cards-Some banks offer secured credit cards that require a security deposit, which can be a good starting point for building credit.
2. Credit Cards for Students or Young Adults-Some banks offer credit cards specifically designed for students or young adults, which might have more relaxed eligibility criteria.
Recommendation
1. HDFC Bank-Offers a range of credit cards, including secured options.
2. ICICI Bank-Provides credit cards for students and young adults.
3. PNB Bank-Issue credit cards for young adults.
4. Contact the bank with which you have an existing account and relationship for a hassle-free process.
5. You may check paisabazaar, bankbazaar, indialends websites for the best options as per your eligibility.
Tips
1. Use Credit Responsibly-Make timely payments and keep your credit utilisation ratio 30% and below to build a positive credit history.
2. Monitor Your Credit Score-Regularly check your CIBIL score to track your progress.
Thanks
Possible Options
1. Secured Credit Cards-Some banks offer secured credit cards that require a security deposit, which can be a good starting point for building credit.
2. Credit Cards for Students or Young Adults-Some banks offer credit cards specifically designed for students or young adults, which might have more relaxed eligibility criteria.
Recommendation
1. HDFC Bank-Offers a range of credit cards, including secured options.
2. ICICI Bank-Provides credit cards for students and young adults.
3. PNB Bank-Issue credit cards for young adults.
4. Contact the bank with which you have an existing account and relationship for a hassle-free process.
5. You may check paisabazaar, bankbazaar, indialends websites for the best options as per your eligibility.
Tips
1. Use Credit Responsibly-Make timely payments and keep your credit utilisation ratio 30% and below to build a positive credit history.
2. Monitor Your Credit Score-Regularly check your CIBIL score to track your progress.
Thanks
Skylar
KF Master
Obtaining a credit card with a CIBIL score of 714 can be challenging, as most banks typically set a minimum requirement of 740 to 760. However, you might consider exploring options with IndusInd Bank or RBL Bank, as they are known to have relatively lenient criteria for issuing credit cards.
HisabiKitabiG
KF Ace
Open an account with HDFC bank (don't apply for Credit card by yourself) Waut for few months and USE account normally within 3 or 6 momths you may get Unsecured automatically.
My friend got when was 19 got it (His current cibil 795)
HDFC easily give credit cards even to those who doesn't qualify for it.
My sister with inactive bank account got 75K credit limit this FY although she is older than me but nit earning
