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PayPal Cashback Credit Card Review 2022

Bad credit credit cards guaranteed approval in India


Bad credit credit cards guaranteed approval in India

Bad credit credit cards guaranteed approval in India


Although secured cards are generally the preferred option for those with bad credit, there are some good unsecured cards as well. You may be able to qualify for one of them, even if you have bad credit, limited credit, or none at all. Because card issuers take into account various factors to decide whether or not to accept a credit card.

In addition to just looking at your credit, issuers will also want to know about your income, whether you're a tenant, or a homeowner, as well as your employment status, among other factors.

So, don't assume that you will be denied a particular card just because of your credit score. Sometimes the card is approved for people who don't even expect it, and other times, they are denied it when they think their credit is good enough.


Secured Credit Card

With bad credit, limited or no credit, secured credit cards are the best option.

By providing a deposit, or perhaps a refundable guarantee, to meet the credit limit, reduces the risk for the credit card issuer. But this does not mean that your insured card is guaranteed to be approved. It can still be ruled out for various reasons, such as:

  • Your credit is very bad.
  • Your income is below the required level.
  • Your personal information cannot be verified.

The issuer of this card has applicable rules that prevent you from qualifying, such as having too many applications in a short amount of time.

In most cases, your line of credit will be the same as your security deposit. Deposit $1,000 and your credit line will be $1,000. The credit limit does not exceed $2,000 or $3,000, and depending on the card, your maximum limit may be based on your creditworthiness. Sometimes you can make additional deposits later to increase the credit limit.

Insured cards usually do not offer any kind of rewards, although there are some that do. In most cases, they have significantly higher interest rates and very few additional benefits. These cards are typically reported to the three major credit bureaus: Experian, Equifax, and TransUnion, like most unsecured cards.


Store credit cards

Store credit cards usually have very low credit requirements, making them easy to obtain, unlike normal credit cards. But they also tend to have very high-interest rates, and they may have slightly different rules for how and where you can use them. Your credit line will generally be lower than with other reward cards.

If you shop at a particular store a lot and offer a credit card, it might be a good idea to use that card. As long as you fully understand the terms and use them responsibly, you can improve your credit and move on to a better card if you so desire.


Also read: 5 Reasons to AVOID The Apple Card 

Also read: HDFC Bank Infinia Credit Card Review 


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