I have no credit score. Can I still get a credit card?

By OneCard   |   December 15, 2022

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I have no credit score. Can I still get a credit card?

You want a credit card or loan but you are told that you have a very low or no credit score. But you also can’t build a credit score without getting one. So you are basically in the shoes of a fresher who gets rejected for not being experienced enough. Welcome to the credit score paradox.

You may wonder what can one do in such a situation. But here’s how you can break this paradox with OneCard’s FD+credit card combo!

A secured credit card is nothing but an assured card issued even without any credit score. It is an especially great option for those who have a low credit score or zero credit history. It works just like a regular credit card, the only difference being that it is backed by an FD.

OneCard’s FD+credit card combo is one such type of secured credit card. All you need to do to apply for it is simply create an FD in the OneCard app for any amount between 2000 Rupees and 1 Lac. Your FD works as a refundable security deposit that backs your OneCard and also earns you high interest rate.

Why you should go for OneCard + FD combo

  1. Credit limit of 100% of your deposit

  2. Chance to improve your credit score & build a credit history

  3. Earns great interest on your deposit

  4. Comes with a virtual card that you can activate instantly

  5. Lets you convert your purchases into EMIs with the tenure of your choice

How is OneCard’s FD+Credit card combo different from a prepaid card?

A prepaid card functions more like a debit card. You can only spend the money you have loaded into your account. Once you have used up the loaded amount, you’d need to re-load the card to use it again. Whereas with OneCard + FD combo, your FD amount stays as is, and earns interest too. Which means after a year, your credit limit will increase too.

Your payment history is not reported to the credit bureaus in the case of prepaid credit cards. So unlike FD+OneCard, a prepaid card doesn’t help establish a credit history. OneCard’s FD+credit card on the other hand comes helps you improve your credit score.

If you are interested in getting an FD-backed OneCard, download OneCard and get started.