Getting a Credit Card with a Name Included in CIBIL Defaulters List

1. Getting a Credit Card with a Name Included in CIBIL Defaulters List Financial matters are always seemingly difficult to deal with especially in relation to the so-called CIBIL defaulters list. In India where CIBIL operates, the usage of credit card is increasing as well as the number of defaulters there. Those two facts lead to the increasing number of denied applicants of credit card since there are more people with a kind of bad credit which can clearly be seen there in the CIBIL credit score list. There are surely any reasons that lead people to default the payments of their credit card such as family emergency, job loss, recession, negligence, and many more. That particular fact creates a seemingly harder procedure in order to be able to be given a credit card in India. Thus one of the popular questions that remain now is the ways to get a credit card despite of the fact that a person is included in a CIBIL defaulters list. Will that be possible? The answer is yes with the use of secured credit card as the ultimate solution for this issue. Applying Secured CIBIL Credit Card As a matter of fact this particular type of credit card is not just the ultimate solution in dealing with a poor credit score there in the CIBIL defaulters list but it is also a great start to build a kind of credit history for the future needs. The only thing needed in order to get this credit card type is to give a cash collateral deposit or the so-called fixed deposit there in the bank where the credit card is about to be applied. That single eligibility rule means that regardless of the fact that your name is included in the CIBIL defaulters list, you can have a credit card as long as you store some money in the bank. The amount of money that you store will be the credit limit of your card or in some other banks it could be a bit less than the amount that you store. One great thing about this particular credit card is that the approval is in pretty much right away. Sounds great, right? Just in case that you are having a problem with the CIBIL defaulters list and that you are planning to apply for a secured credit card, there are several things about it that you have to consider at first. It is also related to the fact that you have a bad history previously so pay attention. Check the actual joining fee in the bank since some of them said that the fee is zero at the beginning which turns out to be asked later on after a year. Annual fee and also charges should also be considered first. You should find out whether the annual fee is fixed or not. Furthermore you should also find out whether there are some other charges or not when you are using the service of that bank in form of the so-called secure credit card to be the ultimate way out of your CIBIL defaulters list issue.