Cibil History for 18 years old

[Jhon Anand]

Hi TFians,

How've you been ? I post rarely but I've a question regarding cibil history. So my brother turned 18 this month and we've applied for PAN card for him.

I want to build a credit history for him so he's able to get good credit cards when he gets his job out of college. (I did have to wait quite a time to get one from HDFC based on salary account and till 8 months no bank was ready to give me, after 1 year every bank was eager )


Also having a couple of cards on his name isn't a bad idea as we will allow usage only in supervision, honestly he isn't interested so I'm only gonna use it for him. Once he's big we'll get some good card with lounge which will be useful.


So does having add on card increase cibil score ? I've cards from HDFC, Axis, SBI and ICICI so can help issue a add on that.


If not does any bank provide unsecured card to 18 years old ? If not then secured one ?

Thanks in Advance for all advice !!

PS: Would like to have from major banks only and not small ones like AU/Federal/SC or like onecard.

 

[6ix9ine]

Hi TFians,

How've you been ? I post rarely but I've a question regarding cibil history. So my brother turned 18 this month and we've applied for PAN card for him.

I want to build a credit history for him so he's able to get good credit cards when he gets his job out of college. (I did have to wait quite a time to get one from HDFC based on salary account and till 8 months no bank was ready to give me, after 1 year every bank was eager )


Also having a couple of cards on his name isn't a bad idea as we will allow usage only in supervision, honestly he isn't interested so I'm only gonna use it for him. Once he's big we'll get some good card with lounge which will be useful.


So does having add on card increase cibil score ? I've cards from HDFC, Axis, SBI and ICICI so can help issue a add on that.


If not does any bank provide unsecured card to 18 years old ? If not then secured one ?

Thanks in Advance for all advice !!

PS: Would like to have from major banks only and not small ones like AU/Federal/SC or like onecard.

A secured card might be the best option. I'm not sure if ICICI still issues their platinum card against a FD, but I would recommend it if they do. It will increase his chances of getting the Amazon ICICI card later on and then, he can work on future cards.

 

[s1t2y3a3m6]

does having add on card increase cibil score ?

NO

If not does any bank provide unsecured card to 18 years old ? If not then secured one ?

Go for ICICI platinum FD with 100k. If possible go through as much as you can.

Use it below 10% then paid your bill before statement generation which will built a good score in a short time.

Apply Amazon pay card after 6-8 months, you will get unsecure credit limit of same amount of your FD card.