Top 10 Options for First Time Credit Card Users

Updated on: 27 Jul 2023 // 22 min read // Credit Cards
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For a first-time user, getting approvals on Credit Cards can be challenging; primarily, because of missing credit history. However, an alternative to this situation could be to Avail a Secured Credit Card and build a strong credit history. With time, you would not only boost your credit rating but would also increase the limit available to you.

The key is to make regular repayments on your secured Credit Card and build credit score alongside. Whether you are just employed or wish to build your credit rating fast, you must know that all the leading banks and financial institutions offer great deals to first-time credit card users.

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Here is a comprehensive list, based on user preferences: 

1. SBI Advantage Plus Credit Card

SBI Advantage Plus Credit Card is an excellent choice for a first-time credit card user. The features and benefits are:

The card is issued against a bank deposit/ FD.

You can use the Encash facility to open an FD for an amount between Rs.25000 and Rs 50000.

The credit limit approved is up to 85% on the deposit amount.

With Flexipay option, you can convert transactions into easy EMIs.

The card is valid in more than 24 million outlets world over.

2. ICICI Bank Instant Platinum Credit Card

This card is available against a valid Fixed Deposit and has zero annual fees.

Income documents are not necessary to apply for this card.

You can earn reward points on each purchase that may be redeemed as cash.

Enjoy interest rates as low as just Rs.2.49% per month, making it the perfect Credit Card for the first-timers.

Get discounts on dining, shopping, and movie tickets.

3. ICICI Bank Coral Credit Card

ICICI Bank Coral Credit Card can be availed against an FD, and you do not need any income proof to get an approval.

You have a host of options: Coral American Express Card, Coral Visa/ MasterCard, and Coral Contactless Card.

Get 2X credit points on grocery and dining spends.

Get payback points on all transactions.

Enjoy complimentary Airport Lounge access.

Contactless technology offers better security against fraud and issues like card skimming.

4. Axis Bank Easy Credit Card

This Credit Card is available with an FD ranging between Rs.20000 to Rs.2,50,000.

You do not have to provide any income proof and address proof if the address is the same as the one in the bank record.

You can get up to 80% of the value of the FD as a credit limit.

Enjoy a 50-day free credit period from the date of issue.

5. Syndicate Bank Classic Credit Card

This card is available to both salaried and self-employed individuals with an income of Rs.60,000 and Rs.1,00,000 respectively.

Income proof is not required for customers who have a term deposit or any previous loan with Syndicate Bank. These customers are pre-approved with a limit based on the relationship with the bank.

Get cash withdrawal facilities with concessional charges.

The revolving credit facility is available with the minimum payable amount being 10% of the current outstanding amount.

Earn one reward point for every Rs.400 spent on the card.

The finance charges on the card are as low as 2.00% per month.

6. Kotak Mahindra Aqua Gold Credit Card

Get up to 80% credit limit on the value of any term deposit that you have with Kotak Mahindra Bank.

Get the benefit of a cover of up to Rs.50000 on any fraudulent charges on the card.

Add-On Card can be availed for family members above the age of 18.

Get four PVR tickets for every Rs. 150000 spent each year or enjoy great cash back offers.

Cashback is valid for three months after each billing cycle.

7. Union Bank Usecure Card

This card is available to all customers of Union Bank with a term deposit of between Rs.20000 and Rs.500000.

Up to 80% of this term deposit is kept as lien with the bank.

To provide added security, this card comes with an EMV Chip.

Customers can enjoy exclusive offers and returns on all spend on travel, dining, and entertainment.

There are no annual charges, making this card even more affordable for first time Credit Card users.

8. Bank of Baroda Assure Credit Card

Bank of Baroda Assure Card can be obtained without any income proof against an existing Fixed Deposit.

You can enjoy cash withdrawals of up to 100% of the limit available in case of any emergency.

Get a reversal on the annual fees for spending Rs.35000 in a year and Rs.6000 within the first 60 days of the card being issued.

Get a complete waiver of 1% fuel surcharge on all transactions between Rs.400 and Rs.5000.

Convert all purchases above Rs2500 into 6 or 12 month EMIs for easy repayment.

9. YES Prosperity Rewards Plus Credit Card

YES Prosperity Rewards Plus Credit Card is available for individuals with a minimum salary of Rs.25000 per month or for those who have a Fixed Deposit with YES Bank.

Get accelerated reward points on all grocery and supermarket transactions.

For spending Rs.3.6 Lakh or more annually, get 12000 bonus points.

Get a complete fuel surcharge waiver at Petrol Pumps across the country.

Get credit shield cover in case of accidental death of the primary cardholder.

Avail added offers on all transactions made on dining, travel, wellness, and a lot more.

Keep your card secure with a 3-D password and MasterCard SecureCode.

10. SBI Unnati Credit Card

SBI Unnati Credit Card is available against Fixed Deposits of a minimum of Rs.25000.

You can get a complete waiver on 1% fuel surcharge for any transaction between Rs.500 and Rs.3000 at all Petrol Pumps across the country.

Get Milestone Rewards like Rs.500 cash back on all annual spends above Rs.50000 and a lot more.

For every Rs 100 spent on the card, you can earn 1 reward point.

The reward points can be redeemed against several gifts from the exclusive rewards catalogue.

This card is valid in more than 24 million outlets across the globe.

Get added security with contactless technology and stay protected from card skimming or other Credit Card frauds.

Also Read: Top 10 Credit Cards in India for 2019

To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 90+ Banks and NBFCs. We have served 7 million+ happy customers since 1989.

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