Secured Credit Cards for Poor Credit: Top 4 Picks!

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Struggling with a poor credit score or no credit history? A secured credit card can help you rebuild your credit while enjoying card benefits. Here’s all you need to know and the best options available in India.

What is a Secured Credit Card?

A secured credit card is issued against a fixed deposit (FD) that acts as collateral. It works just like a regular credit card, helping you build credit while leveraging your FD.

Benefits of Secured Credit Cards

1. Improve Credit Score: Timely payments on your secured credit card can boost your credit score.
2. Earn Interest: Your FD earns interest even as it secures your credit card.
3. Quick Approval: Easier to obtain than unsecured cards, with minimal documentation.

Drawbacks of Secured Credit Cards

1. Lower Credit Limit: Limited to 80% of your FD amount.
2. Locked Funds: Your FD remains inaccessible until the card is closed.
3. Initial Deposit: Requires upfront funds for the FD.

Top 4 Secured Credit Cards in India

1. SBI Unnati Credit Card

Minimum FD: ₹25,000
Annual Fee: Free for 4 years, ₹499 from the 5th year.
Features:

  • ₹500 cashback on spends of ₹50,000/year.
  • 1% fuel surcharge waiver (₹500–₹3,000 transactions).
  • Credit limit: Up to 80% of the FD amount.

Apply Now : SBI Unnati Credit Card

2. ICICI Instant Platinum Credit Card

Minimum FD: ₹50,000 (tenure: 180 days)
Annual Fee: None.
Features:

  • 2 reward points on every ₹100 spent (retail).
  • 1 reward point on utility & insurance payments.
  • 1% fuel surcharge waiver (HPCL pumps, up to ₹4,000).

Apply Now : ICICI Instant Platinum Credit Card

3. Axis Bank Insta Easy Credit Card

Minimum FD: ₹20,000–₹25 lakhs
Annual Fee: None.
Features:

  • Credit limit: Up to 80% of the FD amount.
  • 1% fuel surcharge waiver across India.
  • Up to 15% discount on dining.

Apply Now : Axis Bank Insta Easy Credit Card

4. Kotak 811 #DreamDifferent Credit Card

Minimum FD: ₹5,000
Annual Fee: None.
Features:

  • 4 reward points for every ₹100 spent online.
  • 1 reward point for other expenses over ₹100.
  • 1% fuel surcharge waiver (₹500–₹3,000 transactions).