The never ending need of money can either be fulfilled through own savings or applying for personal loan or credit card at financial institutions. However for a low income earner, getting personal loan and credit card is very difficult. And adding to the pain, is no credit score which is a important eligibility criteria. And especially when you are in the need of urgent money, the situation becomes very difficult.

To overcome this problem, ICICI Bank offers Instant Platinum Credit Card.

Here are the features

Main objective: The main objective behind instant credit card is to help build or repair credit score.

Secured card: It is actually a card against fixed deposit. Meaning, applicant should keep minimum Rs. 20,000 in FD account and against this deposit, ICICI bank will offer credit card.

No credit history check: Bank will not check credit score of the applicant. This is very important, because when someone applies for credit card in a traditional way, card issuer will do a thorough background check of the applicant’s past credit history by contacting credit agencies such as CIBIL and generate credit score. So a person with poor credit score can also apply for this card and improve his/her credit score.

Free: This card is completely free i.e. there is a zero joining and annual fee.

No income criteria: There is no need for the applicant to be a working professional or self-employed. Meaning, bank will not ask for the monthly or annual income. So even students, housewives, retired person can get instant credit card.

Free add-on card: Card users with good usage and re-payment history can also apply for supplementary card for no additional fee. This card can be applied for family members such as wife, children, and parents.

High interest rate: The interest rate on the card is very high 29.88% annualized. So make sure to make all the repayment on time and fully.

Minimum documentation: Since the card is issued against fixed deposit the documents required are very less, as the bank already has most of the documents with them required at the time of opening the FD account. There are no income documents such as salary slip or IT returns required.

Secured: It is a PIN based card, which adds additional layer of security.

Benefits:

• Earn 2 payback points on spending Rs. 100
• Earn 1 payback point on every Rs. 100 spent on utilities and insurance categories
• ₹ 100 off on movie tickets booked via bookmyshow on any day of the week
• 1% fuel surcharge waiver
• 15% savings at restaurants

Other conditions to get card:

• FD should be in the name of the applicant.
• Applicant should not be NRI, minors, and foreign national.
• FD tenure should be 180 days

How to apply for Instant Credit Card?

There are two ways to get this card:

1. Visit ICICI bank branch and get the card over the counter.
2. Apply online and get card delivered to your registered address.