A secured credit card is the easiest credit card to get in India, especially for individuals with no credit history or a low credit score. These cards are issued against a fixed deposit (FD), which serves as collateral for the bank.
Key features include:
- Instant Approval: Since the card is backed by an FD, banks usually do not require income proof or a high credit score.
- Credit Building: Regular use and timely repayments help build or improve your CIBIL score.
- Continued Interest: Your fixed deposit continues to earn interest even while it is linked to the card.