New member: New to CC, Need your Advice

[CarbonLogic]

Greetings everyone, new member here. A little financial background about myself:
-Annual income is about 3.5L, no TDS, I get paid directly to my savings account in SBI. Theres no salary slips/form16 either
-I have been using mostly my DC and UPI so far. Recently only I realized I am missing out on quite a bit of savings by not using CC
-0 credit history

Spending habits:
Mostly online on Amazon, FirstCry, Myntra
In offline its Dmart, roadside vendors
Then theres utilities and fuel. As for rent I live in my parents home.

So far doing a little bit of research I have understood that I cannot apply for even any basic level CC since I dont have salary slips so my only option would be FD backed CC. In this I have narrowed down 1 option : IDFC Wow. Its a rewards based card, not that very beneficial but it seems like a good start.
Other option that I have seen is the Kredit.pe card which many youtube influencers are promoting but it doesnt seem to be a safe option. Based on my spending habits if there is any other strong option other than IDFC Wow, please let me know. IDFC Wow minimum FD is 20k. I did consider about ICICI Platinum Chip CC as well but the minimum FD is 50k which is quite high for me to keep in FD. (To be completely honest, I donot want my first CC to be just for credit score generation but be a little bit beneficial if possible, but if thats not possible then its alright)

If going with IDFC Wow, there is also option for IDFC Digital Rupay CC against the Wow CC @ 199+gst annually which I may activate and use for UPI txns. I have read that Kiwi CC is best for UPI txns but I am sure I cannot apply for it given my 0 credit history.

In near future, atleast after 6 months of using the first secured CC, I plan on applying for Cashback cards such as SBI Cashback, ICICI Amazon pay as I will benefit the most from these. For utilities I think many have mentioned that Airtel Axis is best, for Fuel either SBI BPCL Octane or RBL IOCL. But these will have to wait atleast 6 months to 1 year. Maybe at that time recommendations will change.

So for now would request you to advice me on my first secured CC + for UPI
Thank you!

 

[Mr. BeanMr. Bean is verified member.]

Mostly online on Amazon, FirstCry, Myntra

For Myntra, try Super Money secured FD that provides 5% CB. If you take 5k FD, the physical card is free. It's based on RuPay network. So, covers UPI.

Try Amazon Pay Later for a few months that may lead you to Amazon Pay ICICI CC (unsecured) a bit more quickly.

Good luck🤞.

 

[CarbonLogic]

For Myntra, try Super Money secured FD that provides 5% CB. If you take 5k FD, the physical card is free. It's based on RuPay network. So, covers UPI.

Try Amazon Pay Later for a few months that may lead you to Amazon Pay ICICI CC (unsecured) a bit more quickly.

Good luck🤞.

Thank you very much for the suggestion. I just went through their website. It says upto 5%CB so does that mean its not always 5%CB kind of like a lottery? Also it says only 0.5%CB on non-upi txns. So once I get the Rupay SuperCard, I have to it for CC UPI txns through the supermoney app for the 5%CB or will it work through Gpay/Apay as well?

Edit: Downloaded the app as well. It seems there is a waitlist for the supercard. I am getting a green button that says "Notify Me" which on tapping says you are on waitlist, hang tight.

 

[Mr. BeanMr. Bean is verified member.]

It says upto 5%CB so does that mean its not always 5%CB kind of like a lottery?

Yes. That's for general UPI transactions. For Myntra, it's flat 5%. Please see the attached screenshot.

will it work through Gpay/Apay as well?

It will work through all UPI apps. I often use with BHIM/Navi/Slice app for some extra CB. When we make more than one transaction with super money app or any other app, we get less CB. So, I rotate this card among UPI apps to get CB throughout the day. 😅 Everyday, I get better CB through other apps than super money app (as it is limited to upto 5%). I often get less than 1% with super money app. 😢

The waitlist is there just to increase our curiosity. Just do a few normal UPI transactions to get through it faster. Or anyway, you will pass through it in less than a week.

 

[CarbonLogic]

It will work through all UPI apps. I often use with BHIM/Navi/Slice app for some extra CB. When we make more than one transaction with super money app or any other app, we get less CB. So, I rotate this card among UPI apps to get CB throughout the day. 😅 Everyday, I get better CB through other apps than super money app (as it is limited to upto 5%). I often get less than 1% with super money app. 😢

The waitlist is there just to increase our curiosity. Just do a few normal UPI transactions to get through it faster. Or anyway, you will pass through it in less than a week.

Ohh so thats the trick! Thank you so much. Will start doing regular UPI txns through this app. Hopefully I get the option to apply for the card soon.

 

[SplendorSuperman]

Ohh so thats the trick! Thank you so much. Will start doing regular UPI txns through this app. Hopefully I get the option to apply for the card soon.

Do few transactions you’ll definitely get the option to apply.

 

[CarbonLogic]

Done a couple of UPI txns. Will update when I am able to apply for the card. (Do I have to create an FD first from the FD tab to get the option to apply for CC, or when that option becomes available it will guide me through creating the FD from within the application?)

 

[Mr. BeanMr. Bean is verified member.]

when that option becomes available it will guide me through creating the FD from within the application?)

Well. I waited until the option was shown to me. Initially, I got the FD backed CC and then, I created a separate FD (in Utkarsh SFB) in the FD tab later to test drive how it works. I didn't have to do another video KYC. However, that separate FD won't be linked to the CC. Basically, I have three FDs. Two are linked to CC. Third is a dedicated FD, not linked to FD. There is no way to link or unlink the FDs with the CC by ourselves or through customer support.

 

[CarbonLogic]

Well. I waited until the option was shown to me. Initially, I got the FD backed CC

Finally got the option a few hours back to Grab the Card, went through the process. Got approved within minutes. Have the virtual card. Physical card will be delivered by 13th.

Thank you so much for guiding me with my first CC. Ofcourse I will be using it like DC and within 30% utilization of total limit.

During the application I provided my Email but so far I have not received any email from Supermoney or Utkarsh bank regarding the CC or FD.
Got SMS that TD a/c has been processed. Also got SMS that CRIF credit report (ID number) has been generated, to know more visit their website. Is there a way to check this report using the generated ID Number without creating an account?

As for customer support, looks like Supermoney has only Email, but I have noticed that Utkarshbank have both an email and toll free number for Supercard so would contacting the bank directly be better in future in case of any issue?

Thanks!

 

[Mr. BeanMr. Bean is verified member.]

No idea about CRIF.

I didn't get FD receipt via email. However, there is an option to download the FD receipt once it is created. It may take upto 1 working day to create FD though.

No idea about support. However, both FD and CC are well regulated by RBI. So, if there is any issue, they have to pay for any irregularities or delays.

 

[CarbonLogic]

I didn't get FD receipt via email. However, there is an option to download the FD receipt once it is created. It may take upto 1 working day to create FD though.

No idea about support. However, both FD and CC are well regulated by RBI. So, if there is any issue, they have to pay for any irregularities or delays.

Thanks so much!