Which Bank Provide Credit Card for Low Cibil Score?

A credit score ranging from 600 to 650 is not a bad credit score. However, it is low and has the potential to get your loan application rejected. If you are planning to get a credit card with a credit score of 600 to 650, many credit card providers will think twice before approving your credit card application.

While you can try applying with banks like SBI, Axis Bank, Kotak Mahindra Bank, and other leading credit card providers, it is recommended to increase your credit score and then apply for a credit card. When a bank accepts your application and issue you a credit card when you have a low cibil score, you will land up paying a high interest rate. When you get a credit card with a low credit score, you would not get a good deal and lad up paying more.
It is recommended to wait for few days, get your credit score up, and apply for a credit card to get a better deal.

How to improve your credit score?

• Check your credit report and check for errors or if you can remove any negative items. Did you know you can get a free copy of your credit card report for free once a year from each of the credit reporting agencies in India namely. TransUnion, Equifax, and Experian? If you closed any loans recently or taken measure to improve your credit score, check if the changes are reflecting.
• If you have multiple loans, consider closing a big loan. Having many loans affects your credit score negatively.
• Try removing any negative items like cheque bounces or late payment entries by talking to the concerned organisation.
• Clear your credit card balance. Having a high credit card balance has the potential to bring your credit score down.
• Ensure the payments for the loans you have stood for as a Guarantor are made on time
• Make sure you pay your phone bills and insurance premiums on time.

If you are in dire need of money and have a fixed deposit in any bank, consider taking a loan against your fixed deposit.