Top 10 Credit Cards For The First Time Applicants In India 2021

If you are applying for a credit card for the first time, there is a good chance that you don’t have much experience with a credit card and you have a lower credit score. Therefore it is wiser for beginners to get a secured or basic credit card, it is helpful for two reasons, first, it will help you to build up a credit score, secondly, it will help you to gain knowledge and experience about credit cards.

For being eligible for a credit card, you have to have a good CIBIL score (750+) and a good steady income. But if you don’t have a good CIBIL score or a steady income then secured credit cards can be a better option for you, unlike regular credit cards that are issued against a fixed deposit or term deposit account, and you don’t need to show any income proof for it. These cards also have a lower interest rate and low fees, and that makes them a good option for beginners.

There are some secured and basic credit cards listed below, you can find yourself your desired credit card from them:

  • ICICI Bank Coral Credit Card Against Fixed Deposit
  • Fee:
    • Joining Fee: ₹500 + GST
    • Annual Fee: ₹500 + GST
  • Card Type:
    • It is a Visa Credit card.
  • Benefits:
    • With this card you can earn 2 reward points on each transaction made with this card, T&C applies.
    • This card offers access to most of the domestic lounges in India.
    • With this card, you can get 2 free movie tickets per month.

ICICI Bank Coral Credit Card Against Fixed Deposit is a secured credit card, it offers several benefits and offers to its customers. So if you are a first-time card applicant this card is perfect for you, it will help you to build up a good Credit score.

  • Kotak Bank Aqua Gold Credit Card
  • Fee:
    • Joining Fee: ₹1,499 + GST
    • Annual Fee: None
  • Card Type: 
    • It is a Visa Credit Card.
  • Benefits:
    • With this card you can win 4 PVR movie tickets per year, conditions apply.
    • You will get 80% of your fixed deposit amount as your credit limit.
    • This card also offers a 2.5% discount on fuel surcharges.

Kotak Aqua Gold Credit card is a basic credit card, the card is issued against a fixed deposit amount. It offers some benefits like – Movie tickets, fuel surcharge waiver, low-interest rate, etc. This is one of the best cards for first-time applicants.

  • Axis Bank Insta Easy Credit Card
  • Fee:
    • Joining Fee: None
    • Annual Fee: None
  • Card Type:
    • It is a Visa Credit Card.
  • Benefits:
    • With this card you can earn 6 reward points on each ₹200 transactions, T&C apply.
    • You will get up to a 15% discount on your dining bills, conditions apply.
    • With this card, you can enjoy a credit limit of 80% of your fixed deposit amount.

Axis Bank Insta Easy Credit card is best for those applicants who don’t have a credit score or have a very low credit score. It has a lower interest rate, zero joining, an annual fee, and some other benefits that make it a good option for first-time card applicants. 

  • BOB Prime Credit Card
  • Fee:
    • Joining Fee: None
    • Annual Fee: None
  • Card Type: 
    • It is a MasterCard.
  • Benefits:
    • With this card you can earn 4 reward points for each ₹100 transactions, conditions apply.
    • You can also get 1% cashback on all transactions made with this card.
    • This card also offers zero liability against lost or stolen cards.

This is one of the best credit cards for first-time applicants, it offers a big reward and Cash-Back benefit to its customers. you can also get this card against a fixed deposit account.

  • IDBI Bank Imperium Platinum Credit Card
  • Fee:
    • Joining Fee: ₹499 + GST
    • Annual Fee: ₹499 + GST (From 2nd year)
  • Card Type: 
    • It is a Visa Credit Card.
  • Benefits:
    • You will get up to 500+ reward points as a welcome gift, conditions apply.
    • You will get 2 reward points for each ₹150 transactions with this card, T&C apply.
    • With this card, you will get up to 85% of your fixed deposit amount as the credit limit.

If you want to earn reward points from your expenses, then this card can help you to do that. Also, this card is issued against a fixed deposit account and the interest rate of the card is low, so it is good for those applicants who have a lower credit score. 

  • BOI SwaDhan Rupay Credit Card
  • Fee:
    • Joining Fee: None
    • Annual Fee: None
  • Card Type:
    • It is a RuPay Credit Card.
  • Benefits:
    • With the issuance of the card, you will receive some gift vouchers as a welcome gift.
    • With this card you can earn big reward points from your spending, T&C applies.
    • This card offers a lower interest rate.

If you are applying for a credit card for the first time then BOI SwaDhan Credit Card will be a good option for you. Although it lacks some features, bit for a beginner it will be a good option to start with.

  • SBI Dena Secured Credit Card
  • Fee:
    • Joining Fee: None
    • Annual Fee: ₹250 + GST
  • Card Type: 
    • It is a Visa Credit Card.
  • Benefits:
    • With the issuance of the card you will get up to ₹100 Cash-Back as a welcome gift, T&C apply.
    • This card offers a very low interest rate.
    • With this card, you can pay your bills in easy monthly installments.

This card is best for those who want a hustle-free cheap credit card. The interest rate and the annual fee of the card are very low, and it makes it a good option for first-time applicants. 

  • UBI Classic Credit Card
  • Fee:
    • Joining Fee: None
    • Annual Fee: None
  • Card Type:
    • It is a Visa Credit Card.
  • Benefits:
    • With this card you can earn up to 2 reward points for each ₹100 transactions, conditions apply.
    • With this card, you will receive extraordinary benefits on lifestyle-related spending.
    • This card comes with built-in accidental coverage of ₹ 2 lakh, T&C apply.

This card comes with some good benefits for its users, it is issued against a Fixed deposit account and this card is best for those who want a credit card to improve their credit score or for beginners.

  • UBI Platinum Credit Card
  • Fee:
    • Joining Fee: None
    • Annual Fee: None
  • Card Type:
    • It comes with both Visa and RuPay.
  • Benefits:
    • With this card you can earn reward points from each transaction, conditions apply.
    • This card comes with an accidental coverage of up to ₹8 lakh, conditions apply.
    • You will get a lower interest rate with this card.

This card offers diverse benefits at a very low cost, the interest rate of the card id very and you can get this card against a fixed deposit account. 

  • ICICI Bank Platinum Chip Credit Card
  • Fee:
    • Joining Fee: None
    • Annual Fee: None
  • Card Type:
    • It is a MasterCard credit card.
  • Benefits 
    • You can earn 2 reward points for each ₹100 transaction, conditions apply.
    • This card offers a 15% discount on dining bills.
    • With this card you will get emergency assistance in case of lost or stolen cards, T&C apply.

ICICI Platinum Chip Credit Card does not offer huge benefits to its customers, but if you are applying for a credit card for the first time and you don’t want a secured credit card then this card is a good option for you.

A credit card is a very helpful financial tool, if used properly it can give you unmatched benefits, but if you use your card irresponsibly it can become a death trap for you. Therefore beginners need to know the proper uses of credit cards. There are some tips given below that will help you to use your card properly.

  1. While applying for a credit card, verify all the charges, especially the interest rate and annual fee. A cardholder needs to know the interest rate and other applicable charges.
  2. Set a monthly budget for your credit card, make sure it is not higher than 20% of your monthly income.
  3. Try to pay your bills in time, timely payments can improve your credit history, and it will create a good impact on your credit score.
  4. Always pay your card bills in full, unpaid, or due bills attract interest and it can hurt you financially.
  5. Always try to keep your expenses under 30% of your total credit limit, and if there is some emergency then at least try to keep it under 50%. 

8 thoughts on “Top 10 Credit Cards For The First Time Applicants In India 2021”

  1. Please share me the best credit card, I’m going to take this one as my first card, and would like to read such great content, thanks in advance.

    Reply

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