Secured vs. Unsecured Credit Cards: Choose Your Best Financial Tool
Business
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Moneycontrol•02-02-2026, 12:58
Secured vs. Unsecured Credit Cards: Choose Your Best Financial Tool
- •Secured credit cards require a cash deposit as collateral, ideal for building or rebuilding credit history, especially for those with low CIBIL scores.
- •Unsecured credit cards do not require collateral and are issued based on income, credit score, and repayment history, offering benefits like rewards and travel perks.
- •Secured cards offer easier approval and low risk for lenders but come with limited perks and require an initial deposit.
- •Unsecured cards provide wider acceptance, greater rewards, and no collateral but have higher eligibility criteria and risk of rejection for those with poor credit.
- •Moneycontrol offers a platform to browse, compare, and apply for various credit cards from leading banks and NBFCs through a paperless digital process.
Why It Matters: Choose between secured and unsecured credit cards based on your credit history and financial goals.
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