Secured Credit Card = Fixed Deposit + Credit Card
A secured Credit Card in India is a combo product where in an applicant opens up a fixed deposit with the bank and is then issued a credit card from the same bank.
Secured Credit Cards are a unique product which allow banks to issue an unsecured line of credit to an otherwise High credit-risk applicant. Secured credit cards are issued by ICICI bank, Axis Bank, DCB Bank amongst others in India.
If you have a poor Credit score or no CIBIL score, FinTiger can help you improve your score, by getting you a Secured Credit card from one of its partner banks. Join / Learn more about our program here.
The minimum fixed deposit required for the Secured card and the percentage multiplier used for deciding the credit card limit is something that varies from bank to bank.. Please make sure to choose the best option that works best for you.Vikram 27 Jan 2016 Tags - | Fixed Deposit | Credit Cards