I need a cc, but since it is my 1st cc, it has to be against FD, i want to know if there is any bank...which can provide cc against my stock holding.?

I need a cc, but since it is my 1st cc, it has to be against FD, i want to know if there is any bank...which can provide cc against my stock holding.?
 

17ysaurabh

KF Mentor
Girish, your first credit card doesn't have to be against FD. You can take a proper credit card directly as well.

There are two ways you can achieve that:
1. If you are a salaried employee, you can easily get a credit card for your salary account.
2. You first activate a pay later service like Amazon Pay Later and use it for 2-3 months. Post that apply for Amazon Pay ICICI CC.

I got my first credit card by 2nd way.
 
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Girish, your first credit card doesn't have to be against FD. You can take a proper credit card directly as well.

There are two ways you can achieve that:
1. If you are a salaried employee, you can easily get a credit card for your salary account.
2. You first activate a pay later service like Amazon Pay Later and use it for 2-3 months. Post that apply for Amazon Pay ICICI CC.

I got my first credit card by 2nd way.
Yaa second way is better as i m a student...but there is no chance to get credit card against stock holdings right?
 

17ysaurabh

KF Mentor
Yaa second way is better as i m a student...but there is no chance to get credit card against stock holdings right?
I'm not aware of any credit card against stock holdings.

FD means a fixed deposit in any bank and it is certain that it'll increase with time with a fixed interest rate. That bank offers a credit card against this guarantee. Stock holdings don't provide any such guarantee. So, I don't think credit cards against stock holdings would be a thing.
But let's wait for others to reply.
 
I'm not aware of any credit card against stock holdings.

FD means a fixed deposit in any bank and it is certain that it'll increase with time with a fixed interest rate. That bank offers a credit card against this guarantee. Stock holdings don't provide any such guarantee. So, I don't think credit cards against stock holdings would be a thing.
But let's wait for others to reply.
I read on chat gpt that there is a way to get cc against shares...as stocks are asset...and people pledge there stocks for loan...and CC is kind of loan only...thats why i thought ki aisa hona chaiye...
 

Skylar

KF Mentor
I read on chat gpt that there is a way to get cc against shares...as stocks are asset...and people pledge there stocks for loan...and CC is kind of loan only...thats why i thought ki aisa hona chaiye...
GPT could have given it from US perspective.
In India it is difficult, But if banks like Kotak or Hdfc and even axis
If you are having them for your stock holding (stock broker) then you can negotiate with your RM
 

zacobite

KF Mentor
I read on chat gpt that there is a way to get cc against shares...as stocks are asset...and people pledge there stocks for loan...and CC is kind of loan only...thats why i thought ki aisa hona chaiye...
you will have to mortage your stock as collateral security at a lower value and then maybe a bank may give you CC.. but v complicated and unnecessary
 
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