A bad credit score can hinder your ability to obtain a credit card. Typically, a credit score lower than 600 is considered a bad credit score. A bad credit score is usually the result of high credit utilization and missed payments.
However, low-interest credit cards typically have lower interest rates than most cards, making it easy to manage your debt and save money. Check out the top five low-interest credit cards:
SBI Unnati Credit Card
Annual fees: No initial fees for the first four years
Renewal Fee: Rs.499 from 5th year
Interest rate: 2.50% per month or 30% per year.
Interest rate: 2.50% per month or 34.49% per year
Interest rate: 2.25% per month or 27% per year
Key Features of SBI Advantage Plus
- Convert your expenses of more than ₹2,500 in EMIs with the Flexipay feature.
2. The card allows balance transfers for Advantage Plus credit cardholders.
3. The credit limit can be up to 85% of the fixed deposit amount.
Interest rate: 3.49% per month
Interest rate: 0.75% to 3.65% per month or 9% to 43.8% per year
Key Features of IDFC FIRST WoW
- No proof of income is required for this credit card.
- There is no expiration date for reward points.
- You do not need a credit history to obtain this credit history.
It can become difficult to get a credit card with a low credit score because many card issuers consider it risky. Although low-interest credit cards may offer lower rewards, they can help you improve your credit score.
These cards act as a great tool for those with a credit score below 600 to rebuild their credit. Once you get this card, use it carefully and pay on time to build a good credit score. With consistency, you can build a good credit score.
Disclaimer: Credit card features continue to change over time. The specific offers mentioned here, while valid at the time of writing this article, may no longer be active. Readers are advised to check the respective bank’s website for the latest updates.
