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Card to build credit score for spouse

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aviator

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Planning to get a credit card or my wife (homemaker) with very low ITR. She is an add on member on my cards, I have solid relationships with bank and have decent income. Which card can be tried for her? The purpose is to build a credit score...

Tried with SBI but it was rejected. HDFC through online application didnt go through as income was <6lakhs.
 
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bigbyte said:
ICICI bank will provide Instant credit card based on FD, 85% of FD limit.
Go to a branch where you'll maintain FD and ask for instant credit card. They will create a lien on FD and handover you the credit card there itself.
Click to expand...
No need to open account? Which card variant would they give?
 
cardio_guy said:
I was in the same situation. I started sorting out her financial stuff.
First, we went to SBI and kept some of her gold jewelry for an OD loan. That means we just took the overdraft facility, and didn't get a loan from it.
This process will start her credit history. Every month, the credit history gets recorded and it builds the score.

Then I started looking into co-branded cards for her. She mainly uses Amazon, Myntra, and Swiggy.
So I went through the basic account setup in Amazon and after a few months, I applied for an Amazon ICIC card.
She got a card with a limit of 1.2L. Now I'm seeing a Swiggy HDFC LTF offer banner on her app. I'm applying for that now.
This will take care of most of the requirements.
Planning to use these 2 for the next 1-2 years and then we'll see. Her CIBIL score is now 765.
Click to expand...
This is great. 785 in 2 years is great!!
 
cardy said:
If you have banking relationship in hdfc , open and account for her and your wife has an account in hdfc then you should keep some money in the account. Make an FD of 50k or 1L (preferably 1L) make a RD OF atleast 500 per month. Keep 50 to 1L balance in account and use her debit card every now and then preferably every day atleast for a wallet load or gift card purchase of Amazon for 10rs . More if you actually need.

In about 6months you definitely will have a good pre-approved credit card in her account.
Click to expand...
She has a HDFC account with 6 digit AMB for about 2 years now. Not getting that option..
 
aviator said:
Planning to get a credit card or my wife (homemaker) with very low ITR. She is an add on member on my cards, I have solid relationships with bank and have decent income. Which card can be tried for her? The purpose is to build a credit score...

Tried with SBI but it was rejected. HDFC through online application didnt go through as income was <6lakhs.
Click to expand...
Just open an account in HDFC and do some credit and debit transactions. HDFC will easily give LTF credit cards preapproved.
I did the same for my wife. They offered Millenia LTF with 1 lakh limit within 6 months which later on enhanced to 1.97L.
 
aviator said:
No need to open account? Which card variant would they give?
Click to expand...
For FD a linked saving account may be required. Normally they give Platinum chip Ltd card as insta card.
On card instead of holder's Name "Instant credit card" is embossed. It's like you walk in to bank and you walk out with credit card in hand.
 
I had a similar challenge for my wife, and at that time we did not do idfc wow coz she already had my idfc wealth and one card addon.
So we started with paisabazaar step up, and got the unsecured paisabazaar rbl duet in 6 months.
The benefit your wife will get owing to your addons is that they will also be visible in her credit reports, and that helps boost the score and credit history period as long as she has something else with her individual name.

She also had an account in Kotak and Fi money, so once there was a cibil score we easily got a kotak credit card (may not be possible now till RBI allows them again) and Federal Signet credit card in less than a year. No documents were asked for all 3 cases.
 
@aviator HDFC Bank is a solid choice. My mother, a housewife with only a pension income, opened an HDFC account and maintained just a 25k AMB. Despite having no prior credit card or credit history, she received a credit limit of 3L (DCP) on her first card.

I believe it's just a matter of waiting with HDFC; you'll get the card eventually. Even my sister, who is still a college student, got a pre-approved card with a 70k limit using it since 1 years.
 
aviator said:
Planning to get a credit card or my wife (homemaker) with very low ITR. She is an add on member on my cards, I have solid relationships with bank and have decent income. Which card can be tried for her? The purpose is to build a credit score...

Tried with SBI but it was rejected. HDFC through online application didnt go through as income was <6lakhs.
Click to expand...
Simple:
Step1 : Open an ICICI account
Step2: Create a FD and Credit card on FD along with it , all online..like below:

1719156729782.png
 
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I opened Axis burgundy account for my wife under family banking.

She got pre approved Select LTF in next 2 months with 1.5L limit (unsecured) - Didn't negotiate anything while opening the account
 
aviator said:
She has a HDFC account with 6 digit AMB for about 2 years now. Not getting that option..
Click to expand...
That's very strange! And unlikely of HDFC.

1. What is the account type.
2. Is it under family banking?
3. Did you used to do frequent transaction in the account?
 
I also applied the hdfc Indian oil card for my wife with limit of 20k for first two months, now increased the limit 1 lac.
 
How much time does it take to build credit score? My wife just got a hdfc cc and paid its first bill but there's no cibil record as of now as per gpay,onescore etc app
 
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