Archive · 1 Jul 2025
Secured Credit Cards: Building Credit Scores for Beginners
If you're new to credit, a secured credit card can help you build a good credit score.
These cards work by requiring a deposit, like a savings account.
The amount you put down usually determines your credit limit.
When you pay your card bills on time, it shows lenders you're responsible, which helps improve your credit score.
Popular secured cards include those from IDFC First, SBI, and ICICI Bank, each with different features and fees.
Secured credit cards can help build a credit history for those with little or no credit.
These cards are issued against a fixed deposit.
Card limits are based on the fixed deposit amount.
Timely payments help build a credit score.
Examples include IDFC First Wow, SBI Card Unnati, and ICICI Bank Instant Platinum Credit Card.
- Who
- Young professionals or students with limited credit history.
- What
- Secured credit cards help individuals build a credit history.
- When
- Not explicitly stated.
- Where
- Not explicitly stated.
- Why
- To establish a positive credit history, enabling access to other credit products.
- Purpose
- Build credit history
- Requirement
- Fixed deposit
- Credit limit
- Based on fixed deposit amount
- Examples
- IDFC First Wow, SBI Card Unnati, ICICI Bank Instant Platinum Credit Card