Do you have a poor CIBIL Score and wanted to apply for a credit card to manage extra and urgent expenses of your life? If yes, then you are not alone! Many people have a lower Credit Score, and yet they wish to apply for a credit card.
Financial companies check the Credit Score of the online credit card applicants before sanctioning the application for the same. If you have a Credit Score of 700-750+, then you can easily get the loan/credit card approval without issues.
But, can you still get a credit card after applying via a credit card app even when you have a poor CIBIL Score? Following some tips can help you do that, and that’s what this article will help you in going through!
Easy Ways to Get a Credit Card with Poor CIBIL Score:
- Try to get a secured credit card
It is the easiest and hassle-free method that anyone can look up to while seeking to get a credit card without having or having a lower Credit Score. Any individual without any Credit Score or a poor one can opt for a secured credit card. It can also help build your no or poor CIBIL Score. To get a secured credit card, one needs to open a fixed deposit with a bank from which he/she wants to grab the secured card. The bank will then issue a credit card to you with a credit limit ranging between 50-100% of the total deposit as per the bank’s terms and conditions.
- Grab a credit card against your savings account
You should also know that some leading banks of the country also offer the credit card facility to individuals owning a savings account with them. It is another way an individual can easily get himself or herself a credit card without having a CIBIL Score. To avail a credit card on the basis of the savings account that an individual possesses, he/she needs to deposit a specific amount in the bank account to avail of a credit card.
- Take out a prepaid credit card
Do you have a poor Credit Score and want to own a credit card? Here is yet another way an individual can avail a credit card! If you have a bad Credit Score, then opting for a prepaid credit card is a good idea. All leading banks in India offer prepaid credit cards to individuals possessing poor CIBIL Score. It is easier to own a prepaid credit card by people by keeping some amount of money in it and using it similarly like one uses a prepaid mobile connection.
Following and implementing the above steps can easily help anyone having no or poor credit history owning an online credit card. Nowadays, you can apply for a credit card, personal loan, and other financial services via using an online app.
Hence, you can use the credit card app right on your smartphone after downloading it from the Google Play Store or the iOS Store.
This way, you can track earlier and current relations, download statements, make payments and do more. You can also raise a request for any complaints and rate the online credit card app based on the user experience. The usage of the online app can also help you save time and efforts usually spent in meeting a lender physically.
Bajaj Finserv offers some pre-approved loan offers on personal loans, credit cards, home loans, business loans, EMI finance and more. It can help you minimize loan formalities by making it less time-consuming.
You can submit your basic details like your name and mobile number to check out your pre-approved loan offers right away.