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.