To increase CIBIL score from too low you need to take a long term loan and repay it in timely manner and also repay the running loans, if any, within due dates.
Credit Card can help you significantly. A beneficial usage of credit card can help you to increase your CIBIL Score. Check our Article on how to use of credit card to increase cibil score here :
Now the major problem is you cant get credit card if your CIBIL Score is too low. However you can apply for secured credit card. Credit card is normally an unsecured form of a loan. A secured credit card is a type of credit card that is backed by a fixed deposit (FD) as collateral. Some of the benefits of a secured credit card are:
- It has lower interest rates and fees than unsecured credit cards
- It has a credit limit that is equal to or higher than the FD amount
- It may offer rewards and other features like a regular credit card
Some of the best secured credit cards in India are:
- SBI Card Unnati: This card is offered by SBI Card and has no annual fee for the first four years. It requires a minimum FD amount of Rs. 25,000. You can get 1% fuel surcharge waiver, cashback of Rs. 500 on spending Rs. 50,000 or more in a year, and milestone rewards.
- Axis Insta Easy Credit Card: This card is offered by Axis Bank and has no annual fee. It requires a minimum FD amount of Rs. 25,000. You can get up to 50 days of interest-free credit period, 15% off on dining at partner restaurants, and complimentary insurance cover.
- Kotak 811 #DreamDifferent Credit Card: This card is offered by Kotak Mahindra Bank and has no annual fee. It requires a minimum FD amount of Rs. 10,000. You can get up to 10% cashback on online shopping, fuel surcharge waiver, and free PVR movie tickets.
- ICICI Bank Instant Platinum Credit Card: This card is offered by ICICI Bank and has no annual fee. It requires a minimum FD amount of Rs. 30,000. You can get up to 3 PAYBACK points per Rs. 100 spent, 15% savings on dining at partner restaurants, and discounts on movie tickets.
We hope this information helps you choose the best secured credit card for your needs.