FD-Backed Credit Cards: Your Path to Approval Despite Low Credit Score

• FD-backed credit cards offer an alternative for individuals with low credit scores who are often rejected for traditional, unsecured credit cards.
• Unlike traditional cards, FD-backed cards use a fixed deposit as collateral, reducing risk for banks and making approval easier.
• The credit limit is typically 80-90% of the fixed deposit amount, providing a safety net for the bank if payments are missed.
• Responsible use of an FD-backed card, including timely payments, helps rebuild credit history and improve credit scores over time.
• These cards are ideal for first-time credit users or those with damaged credit, serving as a stepping stone to qualify for regular credit products.

Why It Matters: FD-backed credit cards provide a secure way to build or rebuild credit, leveraging collateral instead of credit history.