Finding the Perfect Secured Credit Card for CIBIL Building and Rewards! (OneCard is Out, Let's Discuss!)

[VibhavBilgoji]

Hey everyone! I'm on the mission to build a solid CIBIL score and figured a secured credit card could be my key. I was initially eyeing the OneCard, but the lack of conversion to unsecured later down the line made me reconsider.​

After browsing through the forum, I learned add-on cards don't contribute to CIBIL, which was insightful! However, my main question remains unanswered: What secured credit card offers a sweet balance of CIBIL building potential and decent reward rates?
Here's what I'm looking for:

• Strong CIBIL reporting: I want a card that consistently reports my responsible credit behavior to CIBIL.
• Decent reward rate: Earning some rewards while building credit would be a bonus! Cashback, points, travel miles - anything works!
• Reasonable fees: I understand secured cards come with fees, but I'd prefer them to be manageable.
• Conversion to unsecured (optional): If possible, having the option to convert the card to unsecured in the future would be ideal.

I've read about various options like IDFC First WOW, Gild and Fi Simplifi, but I'd love to hear your real-world experiences and recommendations!
What secured credit card do you think ticks all the boxes? Bonus points if you have experience with one that eventually converted to unsecured!
Thanks in advance for sharing your wisdom!
P.S. If I missed any crucial details, please let me know! The more informed I am, the better I can choose the right card.
P.P.S. Anyone else here skipped OneCard for the same reason? Let's discuss!

 

[varun__goel_]

do you use a AmEx card? how is the acceptance at petrol pumps? should i use it there? because it is the only place where other credit cards don't give rewards

In my area acceptance is good, as most of the merchants have Paytm, Axis and ICICI POS. Only few have HDFC. You won't have any problem at IOCL pumps as they use ICICI machines

 

[VibhavBilgoji]

In my area acceptance is good, as most of the merchants have Paytm, Axis and ICICI POS. Only few have HDFC. You won't have any problem at IOCL pumps as they use ICICI machines

ig the nearby Petrol pumps has HDFC and SBI POS. Any idea about the acceptance?

 

[sidp]

It sure does help build cibil.

Have got one for my mother. It was constantly declining because of no credit from past 10 years and it went below 700.

Now after issuance of the card. It has increased by 10 points in 2 months, though it is reported as authorised user

Might be a new development. Or is it an amex thing?

Cuz earlier I've seen multiple instances where issuers did hard enquiry for add ons and but cibil report didn't show those accounts.

 

[varun__goel_]

Might be a new development. Or is it an amex thing?

Cuz earlier I've seen multiple instances where issuers did hard enquiry for add ons and but cibil report didn't show those accounts.

Only few banks report add on cc to add on member cibil. Amex and ICICI are in that list

 

[varun__goel_]

ig the nearby Petrol pumps has HDFC and SBI POS. Any idea about the acceptance?

On HDFC and SBI POS, Amex is not accepted by default. They have to request the bank to add Amex acceptability. And most probably they wouldn't have asked the bank to do the same

 

[VibhavBilgoji]

Only few banks report add on cc to add on member cibil. Amex and ICICI are in that list

wait a sec, ICICI also reports to CIBIL for the add on card holder??
are there any specific cards with which this works, or does it work with every card?
and are you sure this works? I havn't read about this anywhere!!

 

[varun__goel_]

wait a sec, ICICI also reports to CIBIL for the add on card holder??
are there any specific cards with which this works, or does it work with every card?
and are you sure this works? I havn't read about this anywhere!!

Yes ICICI does. For any icici card it will work.
you can check here

ICICI add on card relecting on cibil

Hi, in 2007 my brother applied Icici add on card on my name. After few years I stopped using it. Few months back I saw in cibil report that, credit card account is reflecting as Authoized user though I stopped using add on card 10 years back. I Requested ICICI to close the add on card and...

www.technofino.in

 

[varun__goel_]

wait a sec, ICICI also reports to CIBIL for the add on card holder??
are there any specific cards with which this works, or does it work with every card?
and are you sure this works? I havn't read about this anywhere!!

BTW why you want to go for Add On route.

Simply open an account in HDFC or Axis. They will start offering cards within 6 months

 

[VibhavBilgoji]

Helo guyz
If I apply for my first credit card and get approved
After how many days will the card reflect in my cibil report?

 

[HumorSimpson]

Helo guyz
If I apply for my first credit card and get approved
After how many days will the card reflect in my cibil report?

2 to 3 months

 

[NShah]

Helo guyz
If I apply for my first credit card and get approved
After how many days will the card reflect in my cibil report?

Within 1 to 2 months

 

[sidp]

Helo guyz
If I apply for my first credit card and get approved
After how many days will the card reflect in my cibil report?

2 -3 months.

 

[VibhavBilgoji]

BTW why you want to go for Add On route.

Simply open an account in HDFC or Axis. They will start offering cards within 6 months

Ok so,
My dad doesn't think having credit cards at such a young age is important (and maybe its not, idk)

So he won't maintain significant balance in my account just so that they offer me a pre approved credit card.

That's why I wanted to use an Amex add on👍

 

[Swastik]

Yes Finbooster is a good option ,you get good limit and monthly cibil score

SBM Paisabazar is best in Rupay for UPI

 

[VibhavBilgoji]

Ok so,
My dad doesn't think having credit cards at such a young age is important (and maybe its not, idk)

So he won't maintain significant balance in my account just so that they offer me a pre approved credit card.

That's why I wanted to use an Amex add on👍

And I already got an AmEx MRCC add on (last month), but it's not reflected in my cibil yet

 

[shivamk]

And I already got an AmEx MRCC add on (last month), but it's not reflected in my cibil yer

Don't add-ons reflect in the primary issuers CIBIL rather than Add on user? Or is it an AmEx thing?

 

[VibhavBilgoji]

Don't add-ons reflect in the primary issuers CIBIL rather than Add on user? Or is it an AmEx thing?

It's an amex thing😎
i could've done that with ICICI as well ig, but ICICI requires the primary and the wannabe add on holder to visit the branch, something i am not willing to do rn

 

[VibhavBilgoji]

Only few banks report add on cc to add on member cibil. Amex and ICICI are in that list

see this post shivamk

 

[shivamk]

see this post shivamk

Thanks a lot!

 

[Swastik]

Only few banks report add on cc to add on member cibil. Amex and ICICI are in that list

And I already got an AmEx MRCC add on (last month), but it's not reflected in my cibil yet

Amex Add on's do reflect in Cibil report, but it does not affect credit score i think ,

Or my GF holding my Amex Plat Travel add on (and Axis Magnus & Vistara Signature as well) would've gotten some credit score by now ,but her onescore is still just blank