Do you want to enjoy the benefits of a credit card without worrying about your credit score or income? Do you want to save money on interest, earn reward points, and improve your credit rating? If yes, then you should consider applying for a credit card against FD. A credit card against FD is a special type of credit card linked to your fixed deposit account. It is a secured and hassle-free way to get a credit card that suits your needs. In this insightful blog, we will discuss five reasons why you should apply for a FD credit card today.
Five compelling reasons to apply for a credit card against FD
- Easy approval
One of the biggest advantages of a credit card against FD is that it does not require any credit score or income proof. You can get approved for a credit card against FD by simply opening a fixed deposit account with a minimum amount of Rs. 5,000. The credit limit of your card will be up to 90% of your FD amount, which means you can enjoy a high spending power without any hassle. You do not have to go through any lengthy documentation or verification process to get your card. You can apply for a credit card against FD online and get it delivered to your doorstep.
- Low-interest rate
Another benefit of a credit card against FD is that it has a lower interest rate than a regular credit card. Since your card is secured by your FD, the bank charges a lower interest rate on your outstanding balance. This can help you save money on interest charges and pay off your debt faster. For example, if you have a credit card against FD with a credit limit of Rs. 50,000 and an interest rate of 12% per annum, you will pay only Rs. 500 as interest per month if you use the full limit. On the other hand, if you have a regular credit card with the same limit and an interest rate of 18% per annum, you will pay Rs. 750 as interest per month.
- Credit score improvement
A credit card against FD can also help you improve your credit score over time. By using your card responsibly and paying your bills on time, you can build a positive credit history and boost your credit score. This can help you qualify for better credit products in the future, such as loans, mortgages, and premium credit cards. A good credit score can also help you get lower interest rates, higher loan amounts, and better terms and conditions from lenders. A credit card against FD can be a great way to start your credit journey and achieve your financial goals.
- Reward roints
A credit card against FD can also offer you reward points on your spending. You can earn and spend reward points on various categories, such as travel, entertainment, shopping, and more. You can redeem your reward points for flights, movie tickets, gift vouchers, and other exciting options. One reward point equals Rs.0.25, which means you can get more value for your money. You can also earn bonus reward points on certain transactions, such as online shopping, bill payments, and more. A credit card against FD can make your spending more rewarding and fun.
Must Read: Eligibility & Documents Required For Credit Card
- Lifetime free card
The best part about a credit card against FD is that it is a lifetime-free card. You do not have to pay any annual fee or joining fee to use your card. You can also withdraw your FD anytime you want, as long as you clear your card balance. This makes a credit card against FD a flexible and cost-effective option for your financial needs. You do not have to worry about any hidden charges or penalties on your card. You can use your card as long as you want and enjoy its benefits.
Wrapping Up
A credit card against FD is a smart and convenient way to get a credit card without any credit score or income proof. It can help you enjoy a number of benefits as mentioned above. If you are looking for a credit card against FD, you should check out the Kotak 811 #DreamDifferent credit card, which is built for everyone. It is a secured credit card that is linked to your FD and offers you all the benefits mentioned above. You can apply for the Kotak811 #DreamDifferent credit card online and start using it right away. So, what are you waiting for? Apply for a credit card against FD today and make your dreams come true.