Why secured credit card very high interest rate as it is a secured shouldn’t they charge a much lower Interest rate as they don’t have a chance to loose the principal so why there no companies providing the lower interest rate. Like my idfc first bank wow credit card also charge the 30 percent interest while their principal is completely secure with fd. I think that there can be a start up providing the lower interest rate what’s your thoughts.
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As most of the secured credit cards are LTF and doesn’t have any issuance fee or AMC also, banks primarily generate revenue from fees and penalties associated with these cards.
Isn’t it better than 42% interest rate on more unsecured cards. 
Na, idfc first bank credit card have different interest from 9 percent to 42 percentage for even the unsecured cards. So, idfc have same interest for both unsecured and secured.
Fun happens when you use CC to withdraw money from ATM 
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Ya, they have one time processing fee but the cash withdrawal is also interest free in the idfc.
Na, it’s 47.88 if you don’t even pay the minimum amount due.
This 47. 88 makes me go bonkers.
Definitely the idfc first bank bank have very linent charges and fees as compared to other banks but it’s still too high.
My idfc wow card’s APR was just 9% but after closing the savings account with them, they increased it to 12% but still it is good 
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Hmm… Good. But the APR don’t actually matter to me cause I took. I the credit card just of the credit score and I don’t even use the credit card. But my credit score is already 770 on cibil and 725 on expirian.
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