I want to increase/have a decent cibil score as I have never had a credit card before so which one I should go for & why (extra tips if you wanna add then please do it alongside your recommendation)
Secured Credit Cards like Onecard (saw messages here they are not accepting students, don’t know whether its true or not) or Paisabazaar’s Step Up card etc. can increase the Cibil Score, (provided your credit utilization rate is low)
that rumor about OneCard is true! I tried applying & they showed a popup that says that you for your support but we can’t provide you service right now & all that
TBH OneCard got my attention because of its convenience & features but I think I gotta go with either Kotak DreamDifferent credit card or if Jupiter allows Master’s Students like us to have a credit card against an FD then I’ll try to get that one
your views on this please
You can read more about those secured cards here and see the comparison (since its published in Sep 2022, it may not include the latest ones in the market, but yet its useful to get a basic idea)
This too can be helpful:
Onecard was my first CC. I got it by creating an FD of 2000 Rs. I also have a Paisabazaar’s Step Up card. I don’t usually looks for the features, since, the sole purpose of those cards for me is to boost the credit score.
You didn’t got any message on Onecard app asking to try the Onecard Lite?
You could get secured CC easily with an FD. For unsecured card it is a bit hard.
nope, I did not get anything like that in the app, it just showed me the thing i told you before
BTW thanks for sharing the links
I am currently a btech student. What i did was to make credit history first.
For that I chose onecard 2k FD. Did all the repayment correctly and did utilisation less than 30%. You can also look into paisabazaar step up card, since onecard is LTF and once you make an FD, you can’t have it for unsecured.
Once I had my credit score after 3 months of activation of card, I requested for Amazon paylater . Since paylater would be marked as a loan in credit history, I thought it would be helpful. After 2 months , I requested for airtel axis credit card and I recieved the card with a good limit which I am thinking to use for Card to card to get other credit cards.
There are other factors other than credit score for approval of cc. (Income, location, payment history, age of credit etc… it is upto the banks)
Also the location where you stay is a key factor in getting good card offers, usually metro cities and a few big cities are prioritised.
I live in central Kolkata(Pincode : 700012) so that big city issue is not the main issue I guess
Just communicate with onecard customer care…
Or look into paisabazaar step up card. Both onecard lite and paisabazaar stepup has their partner bank SBM. Paisabazaar may not be having good offers but is good enough for you to get a credit history.
I will try to contact them
Thanks for all the help guys
Does Axis card asked for ITR or something to verify your annual income ?
No. They never asked for anything. There was a VKYC. Asked for my PAN card that’s all
I am also a a student and i am having onecard against FD.
when did you apply for it? I am trying to apply in recent days but it keeps saying “Thanks for your support but we cant provide you service, but maybe in the future” IDK why but this is the case with me & onecard
Is there a difference between the master’s student and normal students? Like do you get some stipend?
MS students & Ph.D. Students get a stipend
for Ph.D. it is by Central Govt since I am a student of IIT Madras we get Stipend for selected subjects