New Delhi: If you’ve just started working and have never taken a loan or used a credit card before, you probably don’t have a credit score yet. Without a credit score, banks and lenders often hesitate to give you a loan or credit card. But don’t worry — there are easy ways to start your credit journey and build your profile.
Below are some simple ways to start building your credit score:
Get a credit card through your salary account
If you have a salary account with a bank, they may offer you a credit card even without a credit history.
Some banks give a credit card after your first salary is deposited.
Others may wait a few months to see your spending habits.
In the beginning, you might get an entry-level card with a small credit limit.
Over time, if you make regular, on-time payments, the bank may increase your credit limit or offer you an upgrade to a better card with more benefits.
Tip: Accept credit limit increases whenever you can — a higher limit can improve your credit score and make it easier to get premium cards later.
Take a secured credit card
If you can’t get a card based on your salary account, you can go for a secured credit card.
This type of card is linked to a fixed deposit (FD) you create in the bank.
The bank blocks your FD as security and gives you a credit limit (usually 75 percent–100 percent of your FD amount).
You can’t withdraw the FD while the card is active.
Example:
IDFC FIRST Bank offers the FIRST WOW! card against a fixed deposit. It has no annual fee and offers benefits like reward points, restaurant discounts, fuel surcharge waiver, and more.
Using this card responsibly will help you build your credit score. Later, you can apply for regular or premium credit cards once your score improves.
Buy something on EMI
You can start your credit history by taking a small EMI plan for things like a phone, laptop, or home appliance.
Many banks, NBFCs, and fintech companies give short-term EMI plans (6–12 months) even without a credit score, especially if you work for a well-known company and have a stable income.
Paying your EMIs on time will help you build a credit score within a few months.
Use Buy Now Pay Later (BNPL) services
Some online platforms offer “Buy Now, Pay Later” options that let you purchase now and pay in the future or in EMIs.
Examples:
Amazon Pay Later
Tata Pay Later (Tata Neu)
Flipkart EMI
These services usually start with a small limit, and even if you don’t have a credit score, they may approve you if you are a regular customer. Every timely payment you make here is reported to credit bureaus, helping you build your score.
How long does it take?
If you pay all your EMIs or credit card bills on time, you can start to build a decent credit score in about 6 months. Once you have a score, you can apply for bigger loans or better credit cards.
In short:
Start small — with a salary account card, secured card, BNPL, or EMI purchase.
Always pay on time.
Within 6 months, you can have a good enough score to access more credit options.
Leave a Reply