Best Credit Cards for Low CIBIL Score in India

Table of Contents

Introduction

Having a low CIBIL score can be challenging, especially when it comes to accessing credit cards. However, there are options available for individuals looking to improve their creditworthiness. In this blog post, we’ll explore the best credit cards specifically designed for those with a less-than-ideal credit history.

Best Credit Cards for Low CIBIL Score in India

1. SBI Advantage Plus Credit Card

The SBI Advantage Plus Credit Card is an excellent choice for individuals with low CIBIL scores. Here are its key features:

Accepted Globally: This card is accepted worldwide.
Secured Card: It is offered against fixed deposits.
Credit Limit: Up to 85% of your total fixed deposit amount.
Additional Cards: You can apply for add-on cards for family members.
Flexipay: Convert your spends into EMIs.

Fees and Charges:

Annual Fee: ₹500
Renewal Fee: ₹500 per annum
Interest Charges: 2.25% per month or 27% p.a.
Late Payment Charges: Up to ₹750 (depending on spend amount)

2. SBI Unnati Credit Card

The SBI Unnati Credit Card is another secured option for low CIBIL scores. Here’s what you need to know:

Annual Fee: Nil for the first four years.
Contactless Transactions: Enjoy contactless payments.
EMI Conversion: Convert credit card spends into EMIs.
No Annual Fee: For the initial four years.

Fees and Charges:

Renewal Fee: ₹499 from the 5th year onwards
Interest Charges: 2.50% per month or 30% p.a.

3. Axis Bank Insta Easy Credit Card

The Axis Bank Insta Easy Credit Card is ideal for those trying to enhance their credit score. Key features include:

Credit Limit: Up to 80% of your fixed deposit.
Fuel Surcharge Waiver: 1% fuel surcharge waived on all fuel transactions.
Cash Withdrawal: Up to 100% of the credit limit.
No Joining or Annual Fee.

Fees and Charges:

Interest Rate: 2.50% per month or 34.49% p.a.
Late Payment Fee: Up to ₹700

4. Kotak Mahindra Aqua Gold Credit Card

The Kotak Mahindra Aqua Gold Credit Card offers easily accessible and affordable cash. Features include:

Interest-Free Cash: Up to 48 days throughout the year.
Fuel Surcharge Waiver: On fuel transactions above ₹500.
Railway Surcharge Waiver: On IRCTC website transactions (up to ₹500).

Fees and Charges:

Joining Fee: Nil

Conclusion

While a low CIBIL score may limit your options, these credit cards provide a pathway to rebuilding your credit. Choose wisely based on your needs and financial situation. Remember to use credit responsibly and pay your bills on time to improve your credit score over time.

Disclaimer: The information provided here is for educational purposes only. Please consult with a financial advisor before making any credit-related decisions.

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