How To Get A Credit Card Without CIBIL Score

 

Credit cards become extremely attractive due to the perks they deliver, which include a no-interest period for a small amount of time, reward points, deals, and special deals at both physical and electronic retailers. However, due to a poor or non-existent CIBIL score, only a small number of applicants are approved for credit cards.

Because of a poor or non-existent CIBIL score, it could be challenging to obtain a credit card. It isn't unattainable, though. Below are the best methods for obtaining a credit card for people who have a non-existent CIBIL score.

• Go for a secured credit card: A secured credit card is an option for individuals who wish to request a credit card but do not yet have a credit history or score. Secured credit cards are designed specifically for persons experiencing the mentioned problems. These credit cards are typically issued in exchange for a fixed deposit, and users of secured credit cards have credit limits that can reach 80–90% of the value of the FD.

• Opt for an add-on card: One more strategy to start on your credit-building journey is to obtain an additional credit card. If there is a primary cardholder within your household, then being a family member of that person, you are eligible to apply for an additional credit card. Any add-on credit card's standout asset is that it provides overall the same advantages and functions as the principal credit card that the member of your family already has.

• Apply for a credit card on the basis of your paycheck: Users are eligible to request a credit card if they have worked as a salaried employee for more than 6 months at a firm in which their payment is received each month by the same back to which they are applying for a credit card.

• Savings account: Additionally, several banks give credit cards in exchange for savings accounts. If someone doesn't have a CIBIL score, there are still ways of obtaining a credit card. One must deposit a specific balance into their savings account in order to request a credit card against it. Once the deposit has been made, your banking institution will issue you a credit card and determine the credit limit.

• Try to apply for a prepaid card: Prepaid credit cards have their limits determined by the deposit made by the depositor. This card functions similarly to a traditional credit card, except cardholders, spend money that has been pre-deposited into the card rather than borrowing money to make purchases.

BOTTOM LINE:

This goes without saying that getting a credit card requires having a solid credit record and a strong CIBIL score. However, if you are just starting on your credit journey and have no credit score, there is still an alternative. In this situation, one can obtain the credit card they desire by using the methods outlined above.

Additional Reading: Benefits Of Having A Travel Credit Card