Understanding the Power of Secured Credit Cards: Leveraging Your FD

[MudraMantra]

Greetings everyone,

I have a question regarding my credit card usage. Over the past decade, I've been using unsecured credit cards and currently hold more than 20 of them in my portfolio. My CIBIL score fluctuates between 785 to 798.

I'm considering applying for a secured credit card backed by an FD. Would this decision potentially improve my CIBIL score? Additionally, if pursuing this option proves beneficial, I would appreciate recommendations for reputable secured credit cards.

Please feel free to share your insights and experiences to help me make an informed decision. Thank you.

 

[TiVoGlObE]

Unverified List of Banks reporting Secured Cards as : -

Secured
1. ICICI
2. Yes Bank
3. SBM (Paisa bazaar Step up)
4. Kotak

Unsecured
1. HDFC
2. Rbl
3. SBM (One Card)
4. BoB
5. IDFC
6. IndusInd
7. PNB

Confirmation Pending
1. SBI
2. Axis

This list is not updated, Latest list posted on new thread, pls share details over there.

 

[aniruddhaadhe]

Unverified List of Banks reporting Secured Cards as : -

Secured
1. ICICI
2. Yes Bank
3. SBM (Paisa bazaar Step up)
4. Kotak

Unsecured
1. HDFC
2. Rbl
3. SBM (One Card)
4. BoB
5. IDFC
6. IndusInd
7. PNB

Confirmation Pending
1. SBI
2. Axis

Details are collated basis confirmations & experiences shared by members here so far.

Nice bro. Plz keep up the work by more research here on technofino.
I too want this list.
But I am on the other side of this coin. I have good mix credit lines, home, auto, gold etc. and cibil 810.
My current goal is to get higher CL in unsecured CC. So plan is to opt for a secured cc from a bank who show it as unsecured cc 😜😂😅

there is already a good amount FD sitting idle. 😆

#Technofino #crazyGoals🤞🏼

 

[ccdc]

under 25 be like....where is FD...where is FD...I want fd

 

[TiVoGlObE]

Nice bro. Plz keep up the work by more research here on technofino.
I too want this list.
But I am on the other side of this coin. I have good mix credit lines, home, auto, gold etc. and cibil 810.
My current goal is to get higher CL in unsecured CC. So plan is to opt for a secured cc from a bank who show it as unsecured cc 😜😂😅

there is already a good amount FD sitting idle. 😆

#Technofino #crazyGoals🤞🏼

Excellent idea, keep us posted on your experience. These kind of 💡 is why I come to this forum 😂

Btw moved this list to another thread. Will keep updating it over there