Secured Card Doubt

[suspekuser]

Hello, I am a student and thinking about taking my first secured credit card(Also new to this whole credit card stuff).

I have seen many people recommend IDFC WOW credit card.

My Question is ..

1. Are there any other fd based cards with good rewards?

2. I am mostly planning to pay bills only. This might seem a dumb question but do paying bills with secured card have hidden fees or charges(bill is less than 3k) ? I want to maximize rewards on existing bill payments


Thanks in advance

 

[Beyond]

For bill pay just wait a month and see if rupay platinum offer on Friday is renewed or not.
You can try super card, its chance based discount instead of flat discount.

No secured cc will meet your objective (bill pay)

 

[Half Human]

To answer your questions

1) Yes there are better cards, it depends on the amount you can keep lined. In HDFC you can approach for Millennia (FD amt 1.25-1.5) or Regalia Gold ( FD amount 3+ smthn). Now both of 'em might be chargeable. IDFC WOW is cheap that way (min FD 20k), but otherthan it's reward rates it has better use case scenario with BMS BOGO, RSA and 0 forex, which you get for no LTF cheap cards.

Now another cheap, useful and rewarding FD backed card is Supercard from Supermoney app. The FD is backed by Utkarsh SFB, so you can consider it safe for less than 5L of FD.

Also there are newer SFBs partnering with many apps like Stable Money app, Unity Finance bank, etc. If interested, search for em in this forum

2) Some Apps like Paytm, Phonepe charges, Some does not like Amazon or even myjio/airtel app per se.

Now to maximise your bill, as @Beyond suggested, wait till April 1, as there is a likely that Rupay Platinum offers are gonna find its grave. If it does not open Jio Bank account and prefer for virtual RPDC, also open BOB 2k MAB account for free physical RPDC. With that pay your bills via Amazon on Fridays for 100 discount on any bill other that Creditcard and fastag bills, over 500.

Now if the RIP board is put for sure on RPDC Amazon offer, then there are little ways to maximise your bills.

1) Use your IDFC wow for few days, build a good enough credit scores apply for Apay ICICI CC via Amazon and use it for bill payments at 2% CB.

2) IDFC wow will only give you 0.66% value back, with a redemption charge of 99+GST. So ideally no reward as such.

3) Consider getting Axis ACE credit card, again once you have a good credit score, for 5% disc on Gpay (however convenience charge is the pain in a**).

4) If you can go to higher lien amount and get Millennia CC, then use it to buy Apay vouchers for 5% CB (But may not be LTF)

5) Get an HDFC account and opt for Millennia DC for 2.5% CB on bill pays.

6) Download Supermoney app and get FD backed Supercard, if you don't want the offers offered by IDFC. It has better reward Rates on UPI payments and bill payments via UPI, also extra benefit on Myntra, and Flipkart.

Hope I answered your doubts.

If it did, may mark this as solution.

 

[suspekuser]

To answer your questions

1) Yes there are better cards, it depends on the amount you can keep lined. In HDFC you can approach for Millennia (FD amt 1.25-1.5) or Regalia Gold ( FD amount 3+ smthn). Now both of 'em might be chargeable. IDFC WOW is cheap that way (min FD 20k), but otherthan it's reward rates it has better use case scenario with BMS BOGO, RSA and 0 forex, which you get for no LTF cheap cards.

Now another cheap, useful and rewarding FD backed card is Supercard from Supermoney app. The FD is backed by Utkarsh SFB, so you can consider it safe for less than 5L of FD.

Also there are newer SFBs partnering with many apps like Stable Money app, Unity Finance bank, etc. If interested, search for em in this forum

2) Some Apps like Paytm, Phonepe charges, Some does not like Amazon or even myjio/airtel app per se.

Now to maximise your bill, as @Beyond suggested, wait till April 1, as there is a likely that Rupay Platinum offers are gonna find its grave. If it does not open Jio Bank account and prefer for virtual RPDC, also open BOB 2k MAB account for free physical RPDC. With that pay your bills via Amazon on Fridays for 100 discount on any bill other that Creditcard and fastag bills, over 500.

Now if the RIP board is put for sure on RPDC Amazon offer, then there are little ways to maximise your bills.

1) Use your IDFC wow for few days, build a good enough credit scores apply for Apay ICICI CC via Amazon and use it for bill payments at 2% CB.

2) IDFC wow will only give you 0.66% value back, with a redemption charge of 99+GST. So ideally no reward as such.

3) Consider getting Axis ACE credit card, again once you have a good credit score, for 5% disc on Gpay (however convenience charge is the pain in a**).

4) If you can go to higher lien amount and get Millennia CC, then use it to buy Apay vouchers for 5% CB (But may not be LTF)

5) Get an HDFC account and opt for Millennia DC for 2.5% CB on bill pays.

6) Download Supermoney app and get FD backed Supercard, if you don't want the offers offered by IDFC. It has better reward Rates on UPI payments and bill payments via UPI, also extra benefit on Myntra, and Flipkart.

Hope I answered your doubts.

If it did, may mark this as solution.

Thank you for the information.


I will try supermoney credit card

 

[Half Human]

Thank you for the information.


I will try supermoney credit card

If it doesn't work think of other ways as I mentioned.

 

[hender]

@Half Human

To answer your questions

1) Yes there are better cards, it depends on the amount you can keep lined. In HDFC you can approach for Millennia (FD amt 1.25-1.5) or Regalia Gold ( FD amount 3+ smthn). Now both of 'em might be chargeable. IDFC WOW is cheap that way (min FD 20k), but otherthan it's reward rates it has better use case scenario with BMS BOGO, RSA and 0 forex, which you get for no LTF cheap cards.

Now another cheap, useful and rewarding FD backed card is Supercard from Supermoney app. The FD is backed by Utkarsh SFB, so you can consider it safe for less than 5L of FD.

Also there are newer SFBs partnering with many apps like Stable Money app, Unity Finance bank, etc. If interested, search for em in this forum

2) Some Apps like Paytm, Phonepe charges, Some does not like Amazon or even myjio/airtel app per se.

Now to maximise your bill, as @Beyond suggested, wait till April 1, as there is a likely that Rupay Platinum offers are gonna find its grave. If it does not open Jio Bank account and prefer for virtual RPDC, also open BOB 2k MAB account for free physical RPDC. With that pay your bills via Amazon on Fridays for 100 discount on any bill other that Creditcard and fastag bills, over 500.

Now if the RIP board is put for sure on RPDC Amazon offer, then there are little ways to maximise your bills.

1) Use your IDFC wow for few days, build a good enough credit scores apply for Apay ICICI CC via Amazon and use it for bill payments at 2% CB.

2) IDFC wow will only give you 0.66% value back, with a redemption charge of 99+GST. So ideally no reward as such.

3) Consider getting Axis ACE credit card, again once you have a good credit score, for 5% disc on Gpay (however convenience charge is the pain in a**).

4) If you can go to higher lien amount and get Millennia CC, then use it to buy Apay vouchers for 5% CB (But may not be LTF)

5) Get an HDFC account and opt for Millennia DC for 2.5% CB on bill pays.

6) Download Supermoney app and get FD backed Supercard, if you don't want the offers offered by IDFC. It has better reward Rates on UPI payments and bill payments via UPI, also extra benefit on Myntra, and Flipkart.

Hope I answered your doubts.

If it did, may mark this as solution.

Very nice 👍 I appreciate 👏.
Can you suggest for someone , with no clear usage pattern , occasionally online sale etc, new to card world , max spend in a fy may be upto 1-2 lakh.
A max combination of 2 cards if LTF, that would be good, (No frequent changes of card, so that can keep for 2-3 yrs atleast).
Someone known to me, he is having retail business, but no credit card in the family.
Thanks in advance.

 

[Half Human]

@Half Human

Very nice 👍 I appreciate 👏.
Can you suggest for someone , with no clear usage pattern , occasionally online sale etc, new to card world , max spend in a fy may be upto 1-2 lakh.
A max combination of 2 cards if LTF, that would be good, (No frequent changes of card, so that can keep for 2-3 yrs atleast).
Someone known to me, he is having retail business, but no credit card in the family.
Thanks in advance.

If most of the sales (>50%) are via online, then I suggest HDFC Millennia/Swiggy/SBI CB, depending on acceptance and ICICI APAY.

If most of the sales (>50%) are via offline, then HSBC live+ and Tata Neu infinity.

(If not possible to get HSBC Live+, get HDFC Swiggy/Millennia and use smartbuy to buy reliance smart point vouchers at 5% disc). (

(If not possible to get Infinity, then get BOB Snapdeal for UPI payments and 2.5% CB on online payments).

Also, if they use zomato 1-2 times a month, then consider axis Neo as a 3rd card. (No otherwise)

If there is any other significant spend, lemme know, will try to adjust
Hope this helps..

 

[hender]

If most of the sales (>50%) are via online, then I suggest HDFC Millennia/Swiggy/SBI CB, depending on acceptance and ICICI APAY.

If most of the sales (>50%) are via offline, then HSBC live+ and Tata Neu infinity.

(If not possible to get HSBC Live+, get HDFC Swiggy/Millennia and use smartbuy to buy reliance smart point vouchers at 5% disc). (

(If not possible to get Infinity, then get BOB Snapdeal for UPI payments and 2.5% CB on online payments).

Hope this helps..

What should be the initial journey, they don't have any credit card in the family!

I am reframing my question.

Someone known to me, don't have any credit card in family. Usually they consult me / or take my opinion also for product.

After reading your wonderful post, thought strike in my mind, If I can help them to start Credit Card Journey.
As such am not aware, what's the usage for them, apart from e-commerce sale.

 

[Half Human]

What should be the initial journey, they don't have any credit card in the family!

If credit score is good and above 725, Try for APAY.

Once you get that, work on credit score, wait for 3-4m to get it above 750, and approach for HDFC first.

If they do not have any score right now and Apay gets rejected, then ask them for an FD backed card (as already mentioned, of which Supercard makes sense, unless they have forex usage).