Introducing Rupicard – a credit score builder card that is designed to build/rebuild credit scores of individuals with NIL or low credit score. Why is a good CIBIL score important? A good CIBIL score matters because it affects loan approvals, interest rates. A higher CIBIL score signifies trustworthiness to lenders, facilitating easier access to credit and better borrowing terms. It shows lenders that you\re reliable with money. It can also impact renting, insurance, and job prospects. In short, it\s crucial for financial stability and opportunities. How can Rupicard help in building my credit score? Rupicard provides users with limited or poor credit histories an easy opportunity to build or rebuild their credit score. By responsibly using and making timely payments via Rupicard, you can demonstrate your creditworthiness and improve your credit profile over time. Those who use Rupicard for making payments and repay their card bills by their due dates can steadily build/improve their CIBIL score. Here’s how - When you make timely repayments every month, Rupicard forwards your payment information to all the 4 credit bureaus – CIBIL, Experian, CRIF HighMark and Equifax. Moreover, credit bureaus consider the credit mix (i.e. the ratio of secured and unsecured credit facilities) of consumers while calculating their CIBIL scores. Those having a higher proportion of secured credit in their credit mix are scored higher. As Rupicard is a secured credit card, availing it would increase the proportion of secured credit in your credit mix and thereby, improve your CIBIL score. How to Use Rupicard to Build my Credit Score? You get a free 45-day credit period with Rupicard. Start using your Rupicard for utility payments via UPI apps, online shopping, and more. And then, you must clear all your dues as soon as your statement is generated. Payment history is one of the most crucial factors that holds around 35% weightage on the calculation of your credit score. Hence, as you start paying your Rupicard dues on time every month, your credit score will gradually build and increase over time. Where can I use Rupicard? Rupicard can be used for online and offline transactions in stores. Rupicard can be used on UPI apps like GooglePay, PhonePe, Paytm, BHIM, etc. for: Utility bill payments like mobile phone recharge, electricity bills, gas cylinder booking, DTH recharge etc. Movie ticket bookings Online shopping via Amazon, Flipkart, Meesho, Nykaa, Myntra, and more Petrol, diesel, CNG payments at fuel stations Users can also swipe the Rupicard at any store with a POS machine like supermarkets, malls, etc. About Rupicard Rupicard is an FD credit card, meaning it is a card with the benefits of an FD. Here’s why you should choose Rupicard: 100% assured approval Up to 7% p.a. FD interest rate* No credit score checks No joining fees No income proof Increase your credit limit 45-Day free credit period Instant cash withdrawal Why book an FD to get Rupicard? If you\re someone who is facing challenges in getting a traditional card because of no income proof or low CIBIL score, Rupicard is a great option for you. Your Fixed Deposit (FD) acts as collateral security. You get 90% of your total FD amount as credit limit. One of the best advantages of having a FD-based card is that your FD continues to earn interest. So, not only can you use your Fixed Deposit for spending, but you can also earn interest on it at the same time! Plus, it\s a safe investment choice. Is my FD safe with Rupicard? Your FD amount is totally safe and secure with our banking partner SBM (State Bank of Mauritius) regulated by the RBI. Your FD, up to Rs 5 Lakh, is insured by Deposit Insurance and Credit Guarantee Corporation (DICGC) which is a wholly-owned subsidiary of the RBI. Contact us Phone number: 080-69819393 Email: [email protected] You can always connect with us via WhatsApp for any queries.
