Does amount of FD matters for a secured CC?

[Priya001]

I am in dire need of CIBIL score and looking for secured cards.
1- i got This 2k card from supermoney app , ( should i increase the amount)
2- I am thinking of getting another secured card from axis (15k fd) , will it be of any use? do they increase it faster?
3- is it better to wait for bill generation or pay on the day of spend itself? ( CUR under 10 percent)

 

[Zacobite]

I am in dire need of CIBIL score and looking for secured cards.
1- i got This 2k card from supermoney app , ( should i increase the amount)
2- I am thinking of getting another secured card from axis (15k fd) , will it be of any use? do they increase it faster?
3- is it better to wait for bill generation or pay on the day of spend itself? ( CUR under 10 percent)

Get 1 card.. use it well for 6 month and pay in full on time.. patience.. ur score will improve

 

[Priya001]

Get 1 card.. use it well for 6 month and pay in full on time.. patience.. ur score will improve

hi , use it well means? , large number of transactions ?
can you please answer 4th point?

 

[Vasuki]

I am in dire need of CIBIL score and looking for secured cards.
1- i got This 2k card from supermoney app , ( should i increase the amount)
2- I am thinking of getting another secured card from axis (15k fd) , will it be of any use? do they increase it faster?
3- is it better to wait for bill generation or pay on the day of spend itself? ( CUR under 10 percent)

Age
Occupation
Address pincode being most important things

 

[Priya001]

Age
Occupation
Address pincode being most important things

ahh sh*t..
24 , doc , tier 3 🥲🥲

 

[Aniket]

I am in dire need of CIBIL score and looking for secured cards.

Ans of title, yes it does for other lenders. Usually they offers based on what you have subject to some exceptions.

1- i got This 2k card from supermoney app , ( should i increase the amount)

You could have choosen large amount at the time of opting itself.

2- I am thinking of getting another secured card from axis (15k fd) , will it be of any use? do they increase it faster?

Your FD amount will not have that much role in increasing your CIBIL score faster, unless you want to spends large and gets your spends reported as per industry norms CUR, i.e, 30%.

You can maintain it by paying off proportionate amount before reporting date. But it will not work much, because REs are now asked to report on fortnightly basis.

So, evaluate your usage pattern and then decide accordingly. If it's just for improving CIBIL, not necessary to take, instead open an Account in Axis and maintain good amount of balance and use it as primary account. Don't forget to use DC as well. You will be offered pre-approved card, most likely Neo/Myzone or others within 3-6 months. Till then your CIBIL score will get improved by secured credit card.

3- is it better to wait for bill generation or pay on the day of spend itself? ( CUR under 10 percent)

IMO, after bill generation/ when RE reports, but it depends upon the utilisation as well.

Thumb rule is always pay in time, no matter what, otherwise it will remain as stain.

 

[Priya001]

thank you so much aniket

Ans of title, yes it does for other lenders. Usually they offers based on what you have subject to some exceptions.

You could have choosen large amount at the time of opting itself.

Your FD amount will not have that much role in increasing your CIBIL score, unless you spends and if it gets reported industry norms CUR, i.e, 30%.

IMO, after bill generation/ when RE reports, but it depends upon the utilisation as well.

Thumb rule is always pay in time, no matter what, otherwise it will remain as stain.

 

[Priya001]

Ans of title, yes it does for other lenders. Usually they offers based on what you have subject to some exceptions.

You could have choosen large amount at the time of opting itself.

Your FD amount will not have that much role in increasing your CIBIL score, unless you spends and if it gets reported industry norms CUR, i.e, 30%.

IMO, after bill generation/ when RE reports, but it depends upon the utilisation as well.

Thumb rule is always pay in time, no matter what, otherwise it will remain as stain.

is it wise to take hdfc freedom ,than all this non sense?

 

[rajcasio]

I am in dire need of CIBIL score and looking for secured cards.
1- i got This 2k card from supermoney app , ( should i increase the amount)
2- I am thinking of getting another secured card from axis (15k fd) , will it be of any use? do they increase it faster?
3- is it better to wait for bill generation or pay on the day of spend itself? ( CUR under 10 percent)

Do you see an option to increase the DEPOSIT after getting the card?

 

[Priya001]

Do you see an option to increase the DEPOSIT after getting the card?

yess i do

 

[Vasuki]

ahh sh*t..
24 , doc , tier 3 🥲🥲

Dm with more details I will let you know what would more suit you

With this information

Tier 3 city or town
Axis , hdfc , icici ,sbi would give even in moon
For fd card
Still need your financial acumen to do x amount fd etc etc & for how long u can hold
So yeah

Normal suggestion

Go with 120k fd on hdfc get millniea credit card

Hdfc credit card statement is accepted as valid document in
Sbi , Bob even axis & icici

If you doing less than 100k fd there are other options


Enjoy your rular posting 😂

 

[Aniket]

thank you so much aniket

Welcome!

Edited and added more details, especially for second question. Check it out.

 

[Aniket]

yess i do

Then if you wish, you can increase it. Better than taking one another Card for no specific reason other than improving CIBIL. As some members reported, it's getting reflected as unsecured card.

Yes, mix of credit will expedite the process of increasing, secured and unsecured, but though if it's not hurry, you can slowly and gradually take the steps

Besides this open a Savings A/c in Axis, if you don't have. Most likely you will get pre approved offers in few months based on A/c balance and usage.

 

[Priya001]

Then if you wish, you can increase it. Better than taking one another Card for no specific reason other than improving CIBIL. As some members reported, it's getting reflected as unsecured card.

Yes, mix of credit will expedite the process of increasing, secured and unsecured, but though if it's not hurry, you can slowly and gradually take the steps

Besides this open a Savings A/c in Axis, if you don't have. Most likely you will get pre approved offers in few months based on A/c balance and usage.

i already have Savings max account with HDFC and they are giving me freedom card @500 annually..
plus nearest axis branch is 50km ☺️

 

[Zacobite]

hi , use it well means? , large number of transactions ?
can you please answer 4th point?

whatever u use.. pay it back in full.

There is no 4th point

 

[Aniket]

i already have Savings max account with HDFC and they are giving me freedom card @500 annually..

Haha so better you ignore them, you could have applied by 31st, there were few LTF offers.

plus nearest axis branch is 50km ☺️

You can open an account online as well with VKYC.

If you want to be free from AMB or charges, for the time being you can keep it as a salary A/c until you get CC.

Rest it's upto you, do as you wish. 🙂