Credit cards have become an essential part of modern life. They make shopping, travel, and bill payments convenient, and many people rely on them for day-to-day expenses. But what happens if your CIBIL score is low? Banks may refuse to issue a credit card, leaving you frustrated.
The good news is that there are smart methods to improve your chances of getting a credit card even with a low CIBIL score.
🔹 Why a Low CIBIL Score Blocks Credit Cards
1. Risk factor for banks: A low score indicates delayed or missed payments in the past.
2. Bank policies: Banks prefer customers with scores above 750, as they are considered low-risk.
3. Loan or credit applications: Low scores not only affect credit cards but also personal loans, car loans, and home loans.
🔹 Smart Methods to Get a Credit Card Despite Low CIBIL Score
1. Apply for a Secured Credit Card
· You deposit a fixed amount in the bank, which becomes your credit limit.
· The bank can issue a credit card even if your CIBIL score is low.
· Using this card responsibly helps improve your CIBIL score over time.
2. Become an Authorized User
· Ask a family member or close friend with a good credit history to add you as an authorized user on their credit card.
· Your financial behavior will benefit from their positive history.
3. Pay Off Existing Debts
· Clear overdue EMIs or loans, and reduce credit utilization on other cards.
· Regular, timely payments will gradually increase your score.
4. Check Your Credit Report
· Sometimes, errors or discrepancies lower your CIBIL score.
· You can request corrections from CIBIL and get an updated score quickly.
5. Start Small
· If banks refuse a standard credit card, try store-specific or co-branded cards.
· These often have lenient eligibility criteria and help you build credit history.
🔹 Key Takeaways
· A low CIBIL score doesn’t mean a permanent ban on credit cards.
· Secured credit cards, responsible usage, and correcting errors in your report are smart ways to regain eligibility.
· Improving your financial habits not only helps in getting credit cards but also loans and other financial products in the future.
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk..jpg)
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