Skip to content
credit-building

Getting Your First Credit Card in India, Including FD-Backed Cards

By PointsExplainedLast reviewed

Check your credit reports first

Use your free annual reports from the credit information companies to see what lenders will see, and correct any errors before applying.

Compare Key Fact Statements

Compare the one-page Key Fact Statements for the cards you are considering: annual fee, APR, late payment charges and interest-free period.

Decide on the network

If your issuer offers a choice, pick the network that suits how you pay. Choose RuPay if you want to link the card to UPI.

Read any rejection letter

If you are rejected, the issuer must give you the specific reasons in writing. Read them before you apply again.

Activate and set your controls

Activate the card, then switch on only the uses you need (online, international, contactless) and set limits in the issuer's app.

Where this comes from

Sources

The documents this guide relies on. If one has changed since we read it, the document is right and this guide is out of date.

  1. Reserve Bank of India (Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025 (RBI/DOR/2025-26/155, 28 November 2025)

    Para 5(1): add-on card is a supplementary card within the primary cardholder's credit limits and liability; para 5(16): interest-free credit period definition; para 11(1): one-page Key Fact Statement with the application; written specific reasons for rejection; para 11(2): MITC at onboarding and on changes, preferably in English, Hindi and local language, MITC and agreement copy sent by email or post; para 11(3): insurance only with explicit consent; para 11(4): unsolicited cards prohibited, reversal plus penalty of twice the charges; para 11(5): losses from misuse of unsolicited cards are the issuer's responsibility; para 11(6): OTP consent for activation if not activated for more than 30 days, closure at no cost within seven working days of seeking confirmation; para 11(7): no CIC reporting before activation; para 11(8): consent must be explicit, not implied; para 12(1)-(2): independent credit risk assessment and limits considering other lenders' limits; para 18: add-on card liability rests solely with principal cardholder; para 23(5): past-due reporting to CICs only after more than three days past due.

    rbi.org.in · Accessed
  2. RBI circular: Enhancing Security of Card Transactions (RBI/2019-20/142, 15 January 2020)

    Cards enabled at issue only for contact-based use at ATMs and PoS in India; issuers must provide a facility to enable card-not-present, international and contactless use; switch on/off and set limits 24x7 via mobile app, internet banking, ATMs and IVR.

    rbi.org.in · Accessed
  3. Axis Bank: Credit Card Against FD (Fixed Deposit)

    Axis Bank FD-backed card: fixed deposit as collateral, limit typically a percentage of the deposit, bank may use deposit to recover dues after notifying the cardholder, FD cannot be closed while the card is active, no minimum credit score, this journey open only to people who have never held a credit card, can help build credit history.

    axis.bank.in · Accessed
  4. RBI circular: Arrangements with Card Networks for issue of Credit Cards (RBI/2023-24/131, 6 March 2024)

    Issuers must offer eligible customers a choice among multiple card networks at issue; not applicable to issuers with 10 lakh or fewer active cards or to issuers issuing on their own authorised card network.

    rbi.org.in · Accessed
  5. RBI: Statement on Developmental and Regulatory Policies, 8 June 2022

    RBI proposed linking credit cards to UPI, starting with RuPay credit cards.

    rbi.org.in · Accessed
  6. Axis Bank: Credit Card on UPI (RuPay credit card on UPI FAQs)

    Axis Bank: currently only active Axis Bank RuPay credit cards can be linked on UPI, not Visa/Mastercard cards.

    axis.bank.in · Accessed
Questions

About this guide

Can I get a credit card with no credit history?

A card secured against a fixed deposit is one option. Axis Bank, for example, says its FD-backed card needs no minimum credit score, uses the deposit as collateral and can help build a credit history if used responsibly.

Will the bank tell me why my application was rejected?

Yes. RBI requires the issuer to convey in writing the specific reasons that led to the rejection of a credit card application.

What if a card arrives that I never applied for?

Unsolicited cards are prohibited. If one is activated without your explicit consent and you are billed, the issuer must reverse the charges and pay you a penalty of twice the amount reversed, and any loss from misuse of an unsolicited card is the issuer's responsibility.
Keep reading

Card Fraud, Disputed Charges and Complaints in India

Credit Card EMIs, No-Cost EMI and Balance Transfers in India

Credit Card Fees and Charges in India, and the RBI Rules That Limit Them