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Is There A Credit Card For Me If I Have A Low CIBIL Score?

With A Low CIBIL, You Have One Great Option

We received this email from Buddhadeb C. who asks a very common question that we hear all the time:

Hi Team,

My Civil score is too poor right now. Can I apply for a card for use? I’m a government employee under the state government and my net take home salary of Rs.42000/- per month.  Salary will be credited in my salary account. I will be highly obliged if you guide me as early.

Buddhadeb C.


Hi Buddhadeb! You are not alone, even those among us with rough CIBIL history still need to get a hold of plastic to help re-establish good credit, and luckily there is one option that is guaranteed to work for you – but it may not be the solution you would expect. The first and best option is to check your bank and see if they offer a Secured credit card.

A secured card, or fixed deposit, means you put your own money down to fund the balance of the card. For example, if  you want a card with a limit of Rs. 10000 than you deposit that to back the card, then spend just like any other credit card. Many people might say “WHY DO THIS!?” “This is just spending my own money then!”

That’s correct, however what you are really doing is establishing a positive repayment history. When you receive the bill each month, pay your card in full – or at least a large chunk of the balance. This gets reported to CIBIL just like any other credit card and you will soon be shown as financially responsible once you have 6 months or so of on time payments to your account. You will notice your score tick up steadily with this behavior and soon enough your score will be high enough to be approved for a traditional non-secured credit card.

The second option is not as great – getting a guarantor. This is not favorable because so many things can go wrong and you do not want to risk causing a rift with friends or family if you were to default on your payments. This option should be carefully thought through before going for it. It also is not as great for building credit. Go with the secured card!

Looking for a great secured card? Try the SBI Advantage Plus.

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