Credit card issuers and banks prefer to issue cards only to people with a good credit score. However, not all users have a 750+ CIBIL score. Some people are trying to rebuild their credit scores, while others are first-time credit card users with no credit history. If you are looking to build your credit score and are confused as to which credit card you should apply for, this article will help you choose the best credit builder card.
After thorough research and detailed analysis, the Card Insider team presents the top credit-building cards in India. From lifetime-free to secured cards, we explore the perks, reward rates, benefits, and key features that make these cards popular.
IDFC FIRST WOW! Black Credit Card
The IDFC FIRST WOW! Black Credit Card is a strong option for beginners looking to build their credit profile with an FD-backed credit card while still enjoying premium features. You can get the card against a fixed deposit of just ₹20,000, with rewards on everyday and international spends. One of its biggest highlights is the 0% forex markup, making it particularly useful for those traveling abroad or making foreign currency transactions.
With complimentary domestic lounge access, travel benefits and attractive rewards, the WOW! Black offers considerably more than what you would typically expect from an FD-backed credit card, making it a solid starting point for beginners.
Tata Neu Plus HDFC Bank Credit Card
The Tata Neu Plus HDFC Bank is a co-branded card that mainly targets people who prefer to shop from Tata brands and are loyal HDFC Bank customers. This is the basic card in the Tata Neu series and comes with a joining fee of ₹499 plus taxes. This card offers a strong reward structure: users earn 2% cashback as NeuCoins on spending at Tata brands, 1% cashback as NeuCoins at partner non-Tata brands, and 5% cashback on the Tata Neu app and website. Although this card doesn’t offer dining or entertainment perks, it does offer other benefits like a welcome bonus of 499 NeuCoins, complimentary domestic airport lounge access once every quarter, and a fuel surcharge waiver.
People who make transactions with their credit cards almost every day can receive a spend-based waiver if they spend more than a lakh in the previous year. This is one of the top choices among users who have just begun their card journey.
SuperCard
The SuperCard, launched by Flipkart’s fintech company super.money, is a unique secured credit card designed to help many Indians gain access to credit for the first time. It offers a credit limit ranging from as low as ₹90 to as high as ₹10 lakh, making it highly accessible. This lifetime-free card provides attractive benefits, including cashback on purchases. It has a low starting interest rate of 10.49% and can be easily linked with UPI. The superCard aims to promote financial inclusion by helping users build their credit history.
IDFC FIRST WoW Credit Card
The IDFC FIRST WoW Credit Card is a lifetime-free card with no joining or renewal fee, making it one of the most preferred cards in the Indian credit card market. To avail this card, you need a fixed deposit of at least ₹20,000. One of the most attractive features is its zero forex markup charges, meaning you don’t pay any fees for international transactions. The reward rate is also quite beneficial: users earn 4 Reward Points for every ₹200 spent on eligible transactions, excluding fuel, EMI, and cash withdrawals. Users also get up to 50% off movie tickets through District, a fuel surcharge waiver, and insurance benefits.
Tata Neu Infinity HDFC Bank Credit Card
The Tata Neu Infinity HDFC Bank Credit Card is a co-branded card designed for shoppers and travelers. It comes with a joining fee of ₹1,499 along with taxes. Cardholders can earn exciting rewards, including 10% cashback in the form of NeuCoins when used on the Tata Neu app, 5% on Tata partner brands, and 1.5% on other purchases. This card offers complimentary access to domestic and international airport lounges, with 8 domestic visits and 4 international visits allowed each year.
The card also offers generous insurance benefits, including ₹1 crore coverage for air accidents and ₹15 lakhs for emergency hospitalization. To waive the annual fee, you need to spend ₹3 lakhs or more in a year. Other perks include a low foreign currency markup fee of 2% and a 1% fuel surcharge waiver on fuel purchases between ₹400 and ₹5,000.
Comparing the Credit Builder Cards
| Features | Tata Neu Plus HDFC | IDFC FIRST WOW! Black | IDFC FIRST WoW |
| Joining Fee | ₹499 + GST | ₹750 + GST | Lifetime Free |
| Reward Rate |
|
4 RPs/₹150 Spent Online/Offline. 1 RP/₹150 Spent on Insurance and Utility Payments. Up to 3 RPs/₹150 Spent via UPI | 4 Reward Points/₹200 Spent |
| Reward Redemption | RP can be redeemed through the Tata Neu app | 1 RP = ₹0.50 for Travel Bookings, ₹0.25 Everywhere Else | 1 Reward Point = ₹0.25 |
| Welcome Benefits | On making a successful first transaction, 499 NeuCoins will be credited | Discounts, Complimentary Memberships, Cashback, and More Worth Over ₹5,000 | N/A |
| Forex Markup Charges | 3.5% | Zero | Zero |
| Travel Benefits | Complimentary domestic airport lounge access once every quarter | 4 Free Domestic Airport Lounge Visits Each Year, Max One Every Quarter. Unlock by Spending ₹20,000 in the Previous Month | N/A |
Bottom Line
While many used to be skeptical of credit cards in the past, the situation has greatly improved for the better.
Cards are not only trending, but they have also proven their worth and usefulness to the masses. To avail yourself of a good, rewarding credit card, it’s very important to have a decent credit score and credit history. While those of us with multiple cards just have to act fiscally responsible, it’s difficult for newcomers to get a good credit card. That is why, in our article, we cover some of the best credit score builder cards that help you start your credit journey. Not only are these cards available against a fixed deposit, but they are also highly rewarding.