In today’s financial world, having a credit card is much more beneficial financial tool than you think. Not just for shopping but these credit cards let you make quick payments, handle emergencies, get cashback, rewards and most importantly, they help to build your credit score.
What Is a CIBIL Score?
A CIBIL score is a three-digit number between 300 to 900 that shows how well you handle your finances (basically loans and credits). This creditworthiness is calculated by TransUnion CIBIL, one of the leading credit bureaus in India.
This score is based on your past loans, card payments, and credit history. Late payments affect your CIBIL score and that means that banks may reject your applications. On the other hand, a high score means banks will approve your loans, higher chances to get approved while applying for credit cards and a lower interest rate.
Top 5 Credit Cards for Low CIBIL Score in India
1. SBI Unnati Credit Card
This is a secured card (FD-backed) type of credit card with no joining or annual fee for the first year. You can get this card even if you have no CIBIL score or credit score lower than 600.The FD amount is Rs. 25,000 or more and the credit limit is 80% of the FD amount.
Key Features & Benefits: There is no renewal fee for the first four years. You get reward points and cashback on everyday expenses. You can earn cashbacks worth Rs. 500 if you spend 50,000 or more within 15 days. The best feature about this card is that you can apply for add-on cards for your family members. If you pay your bills on time, this card helps you to build your credit quickly.
This card is suitable for beginners who want a no-stress starter card.
2. IDFC FIRST WOW! Credit Card
This credit card is a secured, FD-backed card, suitable for first-time applicants or people with low credit history. There is no joining fee, and this card comes with guaranteed approval and you can earn higher interest with the fixed deposit. The minimum FD amount is ₹20,000 and the credit limit is 100% of the fixed amount.
Key Features & Benefits: No annual fee and you don’t need to provide any income proof for this card. You get the approval based on the fixed deposit amount and your CIBIL score does not affect anything. You get 4X reward points on every spend and 3X on UPI payments. You even get 100% cashback (up to 200) for the first four UPI transactions.
3. Axis Bank Insta Easy Credit Card
Like the other cards, the Axis Bank credit card is also a secured credit card that is best for quick approval and immediate usage. The annual fee is 500 and the credit amount values up to 80% of the FD amount. The minimum fixed deposit amount is Rs 20,000 and maximum is Rs 25 lakh. The eligibility criteria are minimal and based on the fixed deposit, this doesn’t require any income proof.
Key Features & Benefits: You can use it like a regular card for shopping, bill payments and more. It aslo provides perk like fuel surge charge waiver up to 1% on eligible fuel spends which can save you money if you spend regularly on fuel/petrol. This card is ideal for people rebuilding their credit.
4. ICICI Bank Instant Platinum Credit Card
If you want a credit card which is free of cost and you can own it immediately, ICICI Bank Instant Platinum Credit card is the best option for you. The only thing you need is Rs 50,000 and above as the FD amount. You get the approval based on your fixed deposit amount and no other financial proof is required. There is no joining fee or annual fee.
Key Features & Benefits: You get cashback/reward points on everyday spending. You can earn 2 ICICI Bank Rewards Points for every Rs 100 spent except for the purchase of fuel. You get 2.5% fuel surcharge waiver if you manage to spend more than Rs 40,000 on fuel purchases. Not only this but the cardholders also enjoy up to 25% discount on the purchase of two movie tickets via BookMyShow twice a month.
5. Kotak 811 #Dream Different Credit Card
This is a secured card with no joining fees and the credit limit is based on the FD amount which is Rs 10,000 minimum (up to 90% value). This card is suitable for people with low credit scores who want simple benefits.
Key Features & Benefits: There is no hard eligibility criteria and the approval is based on the fixed amount set by the bank. The low annual fee of only Rs 299 makes it highly affordable for anyone looking to purchase a reliable credit card. You can even withdraw cash without any interest charges. Additionally, the cardholders enjoy a fuel surcharge waiver of 2.5%. This card also gives you 4 free PVR tickets on purchasing tickets and get cashback up to ₹750 on spending over ₹1.50 lakh every year. The fraud-protection guarantee makes it safe to use.
How to Select the Best Card for You
If you have a fixed deposit go for secured cards like SBI Unnati, IDFC WOW!, Axis Insta Easy, or Kotak Aqua Gold. These are the easiest to get. But, if you have a stable salary, entry-level cards like HDFC MoneyBack may be a good start. It’s good to choose a card with cashback or reward points if you spend small amounts monthly.
If your main goal is to rebuild credit, focus on paying bills on time, keeping credit usage below 30% and avoiding unnecessary purchases, don’t forget to check fees and charges. Always look at the annual fee, Interest rate, late payment fees and withdrawal charges
FAQs
1. Can I get a credit card with a very low CIBIL score?
Yes. Secured credit cards and beginner-level cards are designed for low or no credit history users.
2. Will a secured credit card improve my CIBIL score?
Yes. If you make on-time payments regularly, this type of card will gradually improve your credit score.
3. Do secured cards require a high income?
No. Approval is solely based on your fixed deposit, it has nothing to do with your salary amount.
4. Can I upgrade later?
Yes. Banks often upgrade your cards if you manage to build a good credit history.
5. How long does it take to improve my credit score?
It may take up to at least 3–6 months of consistent and responsible usage.
Written by Supriya
