BusinessPhoto: News18 BusinessHow FD-Backed Credit Cards Can Improve Low CIBIL Scores
A low CIBIL score can hinder credit card and loan approvals, making borrowing costly and difficult. An FD-backed credit card offers a solution by allowing individuals with poor credit history to secure a credit card using a fixed deposit as collateral. For example, depositing Rs 10,000 can help obtain a secured credit card, enabling users to rebuild their credit rating through responsible usage.
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