Seeking Credit Card Advice as a College Student

[misterinusual]

Hey everyone,

I hope you're all doing well. I wanted to reach out to this community for some advice regarding credit cards. As a college student, navigating the world of credit can be quite challenging, especially when you don't have a regular income source. I've been managing my finances diligently but could use some guidance on the credit card front.

Currently, I have a Onecard FD Based credit card issued by SBM with a limit of 7k. However, I recently found out that they won't convert it to an unsecured card or provide a limit increase. On top of that, I have a Flipkart Axis Bank credit card with a 15k limit and have been using a Kotak 811 account for the past year with an average monthly balance of 2.5k.

My Credit Scores are :
CIBIL : 778
Experian : 810
I really want to have atleast two cards because its very convenient having different due dates to get more time to pay on my spends.

Despite my efforts, I've faced rejection or have only been offered FD cards when applying for credit cards from Kotak, IDFC, and others. This situation has left me a bit perplexed about the best course of action.

Should I close the Onecard? If I do, would it be wise to use the 7k from the FD to secure a new credit card? I'm open to any suggestions or advice from those who have been in similar situations or have expertise in personal finance.

Looking forward to hearing your thoughts and experiences!

 

[drsel]

Your best bet would be to apply for a card against fixed deposit, because the banks need security

 

[SSV]

Hey everyone,

I hope you're all doing well. I wanted to reach out to this community for some advice regarding credit cards. As a college student, navigating the world of credit can be quite challenging, especially when you don't have a regular income source. I've been managing my finances diligently but could use some guidance on the credit card front.

Currently, I have a Onecard FD Based credit card issued by SBM with a limit of 7k. However, I recently found out that they won't convert it to an unsecured card or provide a limit increase. On top of that, I have a Flipkart Axis Bank credit card with a 15k limit and have been using a Kotak 811 account for the past year with an average monthly balance of 2.5k.

My Credit Scores are :
CIBIL : 778
Experian : 810
I really want to have atleast two cards because its very convenient having different due dates to get more time to pay on my spends.

Despite my efforts, I've faced rejection or have only been offered FD cards when applying for credit cards from Kotak, IDFC, and others. This situation has left me a bit perplexed about the best course of action.

Should I close the Onecard? If I do, would it be wise to use the 7k from the FD to secure a new credit card? I'm open to any suggestions or advice from those who have been in similar situations or have expertise in personal finance.

Looking forward to hearing your thoughts and experiences!

@varun__goel_ , another disciple for you ..

 

[varun__goel_]

Hey everyone,

I hope you're all doing well. I wanted to reach out to this community for some advice regarding credit cards. As a college student, navigating the world of credit can be quite challenging, especially when you don't have a regular income source. I've been managing my finances diligently but could use some guidance on the credit card front.

Currently, I have a Onecard FD Based credit card issued by SBM with a limit of 7k. However, I recently found out that they won't convert it to an unsecured card or provide a limit increase. On top of that, I have a Flipkart Axis Bank credit card with a 15k limit and have been using a Kotak 811 account for the past year with an average monthly balance of 2.5k.

My Credit Scores are :
CIBIL : 778
Experian : 810
I really want to have atleast two cards because its very convenient having different due dates to get more time to pay on my spends.

Despite my efforts, I've faced rejection or have only been offered FD cards when applying for credit cards from Kotak, IDFC, and others. This situation has left me a bit perplexed about the best course of action.

Should I close the Onecard? If I do, would it be wise to use the 7k from the FD to secure a new credit card? I'm open to any suggestions or advice from those who have been in similar situations or have expertise in personal finance.

Looking forward to hearing your thoughts and experiences!

The easiest way to get unsecured card is pre approved offers.

Open an account in HDFC. Maintain a decent balance and use your debit card for day to day spending. You will start getting pre approved offers within 6 months

 

[D₹V]

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

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...

www.technofino.in

Should see this

 

[joell]

Hey everyone,

I hope you're all doing well. I wanted to reach out to this community for some advice regarding credit cards. As a college student, navigating the world of credit can be quite challenging, especially when you don't have a regular income source. I've been managing my finances diligently but could use some guidance on the credit card front.

Currently, I have a Onecard FD Based credit card issued by SBM with a limit of 7k. However, I recently found out that they won't convert it to an unsecured card or provide a limit increase. On top of that, I have a Flipkart Axis Bank credit card with a 15k limit and have been using a Kotak 811 account for the past year with an average monthly balance of 2.5k.

My Credit Scores are :
CIBIL : 778
Experian : 810
I really want to have atleast two cards because its very convenient having different due dates to get more time to pay on my spends.

Despite my efforts, I've faced rejection or have only been offered FD cards when applying for credit cards from Kotak, IDFC, and others. This situation has left me a bit perplexed about the best course of action.

Should I close the Onecard? If I do, would it be wise to use the 7k from the FD to secure a new credit card? I'm open to any suggestions or advice from those who have been in similar situations or have expertise in personal finance.

Looking forward to hearing your thoughts and experiences!

Do you have an Axis savings account and is that why you get the Axis Flipkart card? I ask this because I want one but they rejected me for the Kiwi card for minimum monthly income requirements (I'm a student too).

 

[aniplox]

Do you have an Axis savings account and is that why you get the Axis Flipkart card? I ask this because I want one but they rejected me for the Kiwi card for minimum monthly income requirements (I'm a student too).

kiwi rejects even for axis bank customers.

 

[Pikachu.]

kiwi rejects even for axis bank customers.

Yes they rejected mine too saying low credit score, despite having 776.

 

[Pikachu.]

I have a Flipkart Axis Bank credit card with a 15k lilimit

If you already have Flipkart CC then you can get 2 more axis CCs easily. Apply for LTF cards whenever you see the offer coz this will increase your overall credit limit in credit scores. Suppose if your current limit is 15k, then after having 2 more cards it would be 52k (including 7k of Onecard) if you don't close that.
PS - Your total aggregated limit will be same for all the 3 (axis) cards but in credit score it will be separate for each card.

 

[joell]

kiwi rejects even for axis bank customers.

If i were a student what will I enter as my income when you apply for the card? I tried putting in my own income <2L and they said the minimum is 2L per annum. Ive a credit history tho. Any hacks?

 

[aniplox]

If i were a student what will I enter as my income when you apply for the card? I tried putting in my own income <2L and they said the minimum is 2L per annum. Ive a credit history tho. Any hacks?

You should mainly go for pre approved cards at this point in time. You can try applying normally too but there's a chance of income verification. Also,i applied with 5l annual income and still got rejected before they even asked for proof.