September 24, 2024 · 11 mins read
Santosh Kumar
A CIBIL Score of 600 will put any individual into the poor bracket, reflecting their creditworthiness. The score will reflect on your ability to repay your loans on time, which may affect your credibility. You may be denied loans and/or offered a higher rate of interest for the same reason. This will seriously limit your credit options, and you may be hard-pressed to make larger financial decisions or purchases. But of course, having a lower CIBIL score should not mean that you will not have access to any credit card option. Some options can suit your needs and are made to fulfil your requirements.
When it comes to acquiring a credit card, having a CIBIL Score of 600 or lower can make it challenging for you to get one. A CIBIL score is a marker of your credibility as a borrower; hence, the higher your CIBIL Score, the more likely you are to acquire better credit cards and loans of larger amounts. Similarly, the lower your credit score- the lower your chances of obtaining a credit card. However, there are options available that you can consider when getting a credit card that matches your credit score. There are cards designed especially for beginners or for people who wish to build or rebuild their credit score.
But before you make your decision, let us examine some key aspects that can help you match your best option. These are some factors that you should definitely keep in mind.
1. It is advisable to look for a secured credit card. This means you need to work with a card that requires a cash deposit, which is your credit limit. These cards are easier to obtain with a lower credit score and are also instrumental in helping you rebuild or raise your credit score.
2. Browse pre-approved options—These days, many banks provide pre-approved credit cards that allow users to obtain a credit card with a certain spending limit. These are easier to qualify for and can give you a good starting point for stabilising your credit score.
3. Opt for starter credit cards—These cards are meant for people with low credit scores. They have a lower limit, but they are a good entry point for obtaining a credit card and improving your credit score.
4. Flexible options- Some banks offer flexible options which have comparatively lenient approval criteria; it is an excellent way to explore the market and Keep track of your limit, payment history, and inquiries. Some tips for maintaining a healthy credit score are spending within your limit, paying your bills on time, and avoiding making hard inquiries.
Read More: How Credit Card Usage Makes or Breaks Your Credit Score?
These are some great options if you are looking for a Credit Card but have a lower credit score. This list has been curated especially for individuals wishing to acquire a credit card but with limited credit scores.
This credit card has been designed for people with low credit scores who want a reliable card. This card comes with zero annual fees for the first year, a great feature for people who wish to build or strengthen their credit scores. It also offers a very competitive interest rate with offers of cashback on essential utilities, which is a great bonus for keeping track of monthly expenses. It is a card that can be used for everyday basic spending and a great option for people who want to start small. The ICICI name is a trusted brand in banking, so a credit card from this bank should be on your list.
This card caters to people who want to manage their expenses but have a low credit score to begin with. It provides an easy option to manage your purchases into monthly instalments so that you can afford larger expenses systematically. Since it is designed for customers with low credit limits, it has minimum annual fees and certain benefits like cash back on certain expenses. This card also offers certain shopping, eating out, or entertainment offers, making it an excellent option for beginners. It is a card that can be acquired by people with a CIBIL score of 600 and offers EMI options for its customers who wish to make larger purchases but with limited funds. Backed by HDFC, a household name for banking in India- this card is a no-brainer and has earned a space on this list for all the right reasons.
Another card worth considering is the Axis Bank Insta Easy Credit Card, which comes with a quick approval feature. It has a very hassle-free application process and provides access with minimal documentation and verification process. It charges a meagre annual fee and comes with additional features like cashback and exclusive offers on shopping and purchases. It is supported by Axis Bank's services like online banking, in-app updates, etc., making it easier to manage. You can also manage your payments and check for regular updates with the custom app for banking. Customers can avail themselves of a flexible payment option, which helps individuals with lower credit limits manage their purchases effectively. It is an excellent option for people with a credit score of 600.
Read More: Best HDFC Credit Cards for 2023: Key Features & Benefits
The fourth option on the list is the SBI Unnati Card, which can be an excellent option for someone seeking a credit card with a lower credit score. A great feature of this card is the no-annual fee for the first four years of usage, which is an attractive offer. It helps individuals build their credit scores and focuses on establishing a reliable credit history for its users. This card also comes with cashback and discount benefits with specific merchants. Another noteworthy feature is that customers can upgrade to cards with higher credit limits based on their payment history and credit management records. It has features like secure banking, safety against unauthorised usage, etc. It is a card that should definitely be on your radar if you wish to build your credit score and manage your expenses at the same time. SBI is synonymous with banking in India. It is reliable and has excellent customer support as well, which makes the Unnati Card another great option to keep an eye out for.
This card is meant for people who wish to either build a credit journey or to improve a lower credit score. It offers a great transaction rewards system, a competitive fee, and interest rates. For the first year of acquiring this card, there is a zero annual charge, another attractive feature. It is a significant first step to building a long-term credit history, and the bank offers many services like personalised statements, insights, and tips on managing expenses every month. It is very user-friendly, and new users can quickly understand the system. It particularly benefits users who want to gradually build a credit score while managing their everyday personal expenses.
The sixth card on the list, this card is an excellent option for people with a CIBIL Score of 600. It has a nominal annual fee, various reward systems, and cashback offers on various shopping sites and merchants. It gives exclusive deals and offers while shopping, making it more attractive for its users. The card is supported by customer support, which assists with every issue like transaction, reward system, etc. It is convenient for individuals with lower credit history to manage their expenses while simultaneously building their credit score.
This card caters to people who do not possess a high credit score and, thereby, are limited in their creditworthiness. It is an entry-level credit card with no annual fee, reasonable offers on cashback, and additional discounts on select merchants and sites. It also has a reward system that helps users earn and redeem points for their purchases later. It also offers easy EMI options that can be broken down as per the user's limit. It facilitates everyday expenses, helps manage credit scores, and builds them up over time. A great option trusted by many users and backed by a reliable banking name -HSBC, this card is one to consider.
Read More: How to Choose the Right Credit Card for Your Lifestyle in India?
Another card from RBL is specifically meant for people who wish to improve their credit scores while enjoying the benefits of using a credit card. It is a card with multiple features like cashback offers, a reward system, and a waiver of the annual fee in the first year. Users can use it to make purchases, pay utility bills, etc., while collecting rewards, which can be redeemed later to avail of additional discounts. It is another suitable option for individuals who want to build a credit score or improve it step by step. Bajaj has been dealing with easy EMIs and small-scale loans for several years now and is easily one of the most trusted brands – a credit card from Bajaj definitely deserves a spot on this list.
These 8 cards from various banks are all great options to consider if you are exploring your options with credit cards but have limitations because of your credit score. But fear not, because there are a great many options for people who otherwise have a CIBIL score of 600- these cards are tailored to be used by people who have this limitation; the best part is that these are all fairly easy to acquire and have minimal to no annual fee which again is a bonus. This list has been curated, considering all the boxes that should be ticked while selecting a credit card with a limited credit score. They are from reliable banks and have been used and approved by thousands of users across India.
Read More: Is 650 a Good CIBIL Score?
Managing your finances can be tricky, especially if you have limited options; selecting a credit card that best suits your requirements and needs is always advisable. These entry-level credit cards are easy to maintain and come with introductory offers and perks. They provide the best credit card handling experience and allow users to manage their finances without compromising their credit score. A bonus point is that it will gradually help users build their credit score to upgrade their CIBIL score and transition onto a credit card with higher limits and more perks and benefits. So, if your CIBIL score of 600 is bothering you and you want a credit card, these are the top picks for you to consider: all from trusted brands with the best services to offer!
Is 600 a good range for a CIBIL Score?
No, 600 is not considered a good CIBIL Score range; it is in the lower ranges and reflects a person's low creditworthiness.
How much of a credit limit can be assured with a CIBIL Score of 600?
The credit limit allowed will depend on the respective bank and credit card.
How can one increase our CIBIL Score?
There are several ways to increase your CIBIL Score, such as building a credit history through credit cards, credit purchases, timely repayment of loans and instalments, and securing loans. However, it requires time and proper financial management.
Can someone with a 600 CIBIL Score obtain a credit card?
Many credit card options exist for individuals with a CIBIL Score of 600.
What are the benefits of increasing the CIBIL Score?
Your CIBIL Score determines your credit limit and ensures that you get easy loan approval. Increasing your CIBIL score is an excellent way to attain financial stability.
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