Credit Card against Fixed Deposits FDs in Details

A credit card secured by a fixed deposit is a type of credit card that is backed by a fixed deposit account that you open with the same bank or financial institution that issued the credit card. In order to get this type of credit card, you will need to open a fixed deposit account and deposit a certain amount of money in it. The credit limit on your credit card will usually be equal to or slightly less than the amount of money you have deposited in your fixed deposit account. The main advantage of a credit card secured by a fixed deposit is that it is easier to get approved for this type of credit card, even if you have a limited credit history or a low credit score. This is because the bank or financial institution can use the money in your fixed deposit account as collateral in case you default on your credit card payments. However, it is important to keep in mind that a credit card secured by a fixed deposit is still a credit card, and you will be charged interest on any unpaid balance on your credit card account. In addition, you may be required to pay fees for opening and maintaining the fixed deposit account, as well as fees for using the credit card. It is important to carefully read and understand the terms and conditions of the credit card and fixed deposit accounts before deciding whether this type of credit card is right for you. Topics cover are : 00:00 What is Credit card against fixed deposit 00:18 Reasons bank do not issue normal credit cards 02:01 How to get Credit card against fixed deposit from banks 02:34 features of credit card secured by fixed deposits 04:17 disadvantages of credit card secured by fixed deposits 05:21 various types of credit cards issued by different banks 05:53 summary table of different credit card issued by different banks Murari Garg 9717550964( Whatsapp) #creditcardagainstfd #creditcardagainstfixeddeposit #creditcard #creditcardforlowcibilscore #creditcardforstudent #creditcardforretiree