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SECURED CREDIT CARD.

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bro my dad used to save a current account with them and like his account had transactions of more than 50 crores in a month and he used to have a diamond credit card by icici which had a fees of 1.5 lakhs ...like just the joining and renewal fees....
 
newinnov said:
🙏 bade log
Click to expand...
no bro but then icici downgraded my dads diamont to some other variant and then again to some lower one I think rubyx or emralde or whatever.. this is back in 2017 but then in 2017 my dad had a loan of 3 crores from icici which he defaulted for 3 months because my dads business started declining and then they declared the loan npa and made a settlement and after which all dues were cleared n they close my dads rubyx or emralde card too
 
Thor04 said:
Hello everyone,

I am posting this thread to inform you about secured cards. Which all banks offer secured cards and which varients and everything.

1) ICICI Bank
ICICI Bank offers its two basic card- Platinum and Coral card against a fd of minimum 50,000 for both the cards. You can apply for this card directly from mobile banking or net banking.You need to have a savings account in ICICI to avail this card. After 5-6 months u can apply for its co branded card like amazon pay card or Makemytrip cards and you will get shared limit with your secured credit card. They give 90% limit of fixed deposit.

2) Axis Bank- Axis bank offers these cards on fd.
The list of cards are as follow-
Myzone- minimum fd of 25000
IndianOil Axis Bank card- minimum fd of 25000 ( to be confirmed)
Axis Bank privilege on a fd of minimum 1 lakh.
Axis Bank Select card on a fd of minimum 5 lakhs(to be confirmed).
You can apply Myzone, Indian Oil and Privilege card online thru net or mobile banking. For select card u need to go to branch. You can even apply for axis flipkart card thru branch. You need to have a saving account in Axis bank to get secured credit card. They give 80% limit of fixed deposit.

3) IDFC Bank- They give IDFC WOW card against fd. Minimum fd amount 5,000. You do not need to have a savings account with them to get this card. They give 100% fd limit.You can apply for this card online.

4) SBI Bank- They offer all their core cards against fd except for cashback and Aurum.
SimplyClick,Simply Save- minimum fd of 25,000.
Prime-minimum fd of 60,000.
Elite- minimum fd of 1,20,000
They give 75-80% fd limit. You need to have a savings account with them.
You have to apply for their cards thru branch.

5) AU bank nomo
(details to be filled)

6) Kotak Bank- They offer Kotak dream different card against a fd of minimum 10,000. You can apply for this card online. You need to have a savings account with them.

7) SBM Bank- State bank of maurituis, they offer heck tons of useless cards thru third parties like onecard, paisabazaar step up card, gild card, magnet card. Honestly its a useless and risky bank and I would suggest not to do fd with them.

8) HDFC- They offer cards against fd. You need to have a savings account with them. They give 80% limit against fd.
Freedom- minimum fd of 20,000
Millenia- minimum fd of 1,25,000
Regalia- minimum fd of 4-5 lakhs(to be confirmed)
Infia- minimum fd of 10-13 lakhs (to be confirmed and maybe they have discontinued giving infinia against fd)

Overall I would say if you want a credit card to build your credit score go for ICICI bank credit card because you have great chances of getting an unsecured card later.
If you want lounge access then get sbi prime or sbi elite but they have a fees of 3,000 plus taxes and 5,000 plus taxes respectively but in the first year of the card u get a voucher from pantaloons/shopperstop/yatra of 3,000(for prime card) and 5,000(for elite card) . So you can convert that sbi card to ltf or close if after one year.
Click to expand...
Add one imp info, Except Onecard and IDFC WOW every others secured credit cards gets reported as secured while these two are as "unsecured"

Fun fact: Today, I have handsome number of cards from different banks and all this is builded on that ₹2K FD made with SBM bank🐸.
So can't agree on that.
 
Thor04 said:
no bro but then icici downgraded my dads diamont to some other variant and then again to some lower one I think rubyx or emralde or whatever.. this is back in 2017 but then in 2017 my dad had a loan of 3 crores from icici which he defaulted for 3 months because my dads business started declining and then they declared the loan npa and made a settlement and after which all dues were cleared n they close my dads rubyx or emralde card too
Click to expand...
Can you give a rough idea, how much have u paid of 3 cr loan. And after default, in how much u settled.

Curious to know🤔
 
Shin-Chan said:
Secured card 101 : Bank will never increase your limit until you increase your FD


only possible LE is via making the Secured card unsecured which only a few Banks even entertain given they have leverage on you and they know that
Click to expand...
Namely ICICI, Axis and HDFC. Onecard also in recent times
 
Last edited:
Anupama_Jha said:
Can you give a rough idea, how much have u paid of 3 cr loan. And after default, in how much u settled.

Curious to know🤔
Click to expand...
the loan was of 5 crores initially.. 2 crores were paid off but then my dad defaulted for 9-10 months after which the total loan of remaining 3 crores was 4.2 crores.. so my dad settled it for 3.5 something...
 
newinnov said:
It does offer pre-approved card when you have secured cc, depending on balance maintained .
So we may let it remain in the list 😉
Click to expand...
really is that true? because I am applying for sbi prime against a fixed deposit of 1.5 lakhs but if hdfc will give me pre approved offers then I will apply for hdfc millenia secured against fd of 1.5 lakhs but then will I get pre approved offer from hdfc for hdfc regalia?
 
Thor04 said:
really is that true? because I am applying for sbi prime against a fixed deposit of 1.5 lakhs but if hdfc will give me pre approved offers then I will apply for hdfc millenia secured against fd of 1.5 lakhs but then will I get pre approved offer from hdfc for hdfc regalia?
Click to expand...
Yes, its true hdfc will keep you spamming with swiggy/fuel card/other cc if you maintain good balance. But from this year mostly paid cards are offered.
Big no for regalia untill you reach trv of 4lakh
 
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