Secured CC with zero markup fee

[korin]

I can see at least two LTF secured credit card offering in the market that provide zero markup fees on foreign transactions.
1. Niyo Global secured CC
2. IDFC First WOW CC

I already own Niyo global and Fi Money debit cards for zero markup. But having a credit card is extremely useful.

For a person already holding several credit cards, but still want a CC with zero markup fees. How good are they?

Is it wise to get these secured cards?
Anyone has any experience with this?

 

[Batmanbaba]

they are secured card....so that means u have to put your money into it first.....same thing is required in debit card.....keep money and use....if it was unscured then it would make more sense...

 

[Chaitanya-a]

they are secured card....so that means u have to put your money into it first.....same thing is required in debit card.....keep money and use....if it was unscured then it would make more sense...

Yeah same thought. Secured CC specially NIYO one is nothing different from its Debit card. Its of no use.

 

[theglobalinvestor]

Counter points. FD earns interest. Credit limit will be higher than FD amount.

 

[Chaitanya-a]

Counter points. FD earns interest. Credit limit will be higher than FD amount.

For investment, we have better tools. Whereas in unsecured card, credit limit is given by banks. We don't have to keep our money all the time with them.

 

[anirban.choudhuryanirban.choudhury is verified member.]

I can see at least two LTF secured credit card offering in the market that provide zero markup fees on foreign transactions.
1. Niyo Global secured CC
2. IDFC First WOW CC

I already own Niyo global and Fi Money debit cards for zero markup. But having a credit card is extremely useful.

For a person already holding several credit cards, but still want a CC with zero markup fees. How good are they?

Is it wise to get these secured cards?
Anyone has any experience with this?

If you want a zero forex unsecured credit card , you can go for Rbl world safari currently there is some offer where in they are giving 3k worth of MMT vouchers

 

[Dash]

I think you should read the terms and conditions for niyo global CC. Firstly, niyo global debit card: you cant use for international transactions because of the RBI restrictions on SBM, secondly credit limit will be decided on your FD amount for the niyo CC and they have mentioned it should be within 1 lac. RBL world safari is a better alternative or Fi debit card.