While their benefits are unquestionable, the eligibility for credit cards can be quite a stumbling block. Particularly for those without established credit histories or those with less-than-perfect credit scores. Conventional credit cards often mandate stringent eligibility criteria, which a significant portion of the population simply cannot meet. That is until now.
For modern innovations like FD-based credit cards from the likes of Kotak811, credit card hopefuls don’t need to make a cibil score check, or even have a credit history to apply. They don’t even need to be employed or earning. What’s more, by using these cards responsibly, they can also build their credit scores over time while enjoying a host of rewards and benefits. So, is there any catch?
All that’s needed to get Kotak811's FD-based UPI enabled DreamDifferent credit card is opening a fixed deposit with Kotak811 on its official app. Applicants need to have a Kotak811 account to do so, and if they don’t have one - just complete a 3 minute app or online account opening with an Aadhar and PAN card. Here are some salient benefits of using this credit card:
For Everyone’s Credit: Unlike conventional credit cards that require a strong credit history or income proof, the DreamDifferent credit card is accessible to individuals from all walks of life. Whether you're a student, a homemaker, or someone transitioning between jobs, you can get started with the DreamDifferent card with ease.
UPI Integration for Scan & Pay Transactions: Now with UPI-enabled functionality, the DreamDifferent credit card offers even more convenience for seamless online and offline payments. Customers can link their card to any UPI app and use it to scan and pay.
Building Credit Scores: One of the biggest challenges faced by individuals with limited credit histories is building their credit scores. With the DreamDifferent card, customers can establish and improve their credit profiles over time by demonstrating responsible credit usage. Every transaction and timely repayment contributes to enhancing their creditworthiness, opening doors to better credit opportunities in the future.
Assured Returns on FDs: The unique feature of linking Fixed Deposits (FDs) to the DreamDifferent card allows customers to leverage their existing investments while enjoying the benefits of a credit card. By maintaining FDs as collateral, customers not only gain access to credit but also continue to earn assured returns on their deposits over the FD term.
Increased Credit Limit: Customers can set a monthly credit limit of up to 90% of the deposited value across all linked FDs. There can be more than one FD linked to the DreamDifferent card. This flexibility enables customers to set their credit limits in line with their financial needs while ensuring responsible usage of credit.
Terrific Rewards and Benefits: The DreamDifferent credit card comes packed with a range of rewards and benefits designed to enhance the cardholder's experience. From fuel surcharge waivers, Amazon vouchers, reward points sans expiry dates to interest-free cash withdrawals and options to convert purchases into EMIs, customers can gain maximum value from their spending with full financial flexibility.
No Joining and Annual Fees: Unlike many traditional credit cards that come with upfront or recurring charges, the DreamDifferent card offers a fee-free experience for life. Customers can enjoy the benefits of credit without worrying about unnecessary charges.
Convenient Repayment Options: Repaying credit card dues is hassle-free with the Kotak811 Mobile Banking App. Customers can easily monitor their spending, check their payment due dates, and make timely repayments, ensuring they stay on top of their finances.
Welcome Benefits and Reward Points: New cardholders can kick start their credit journey with attractive welcome benefits, including vouchers and reward points on qualifying spends in the initial months. Additionally, they earn reward points for every transaction, with no expiry date on accumulated points.
Milestone Benefits: As customers continue to use their DreamDifferent card, they unlock milestone benefits such as Amazon vouchers based on their spending milestones. These rewards serve as incentives for responsible credit behavior and encourage customers to make the most of their card benefits.
Kotak811's DreamDifferent is symbolic of a paradigm shift in credit card offerings, making credit accessible, affordable, and rewarding for any Indian aged 18 and above. With express focus on financial inclusion, credit-building opportunities, and value-added benefits, the Dream Different credit card is helping many achieve their financial goals while strengthening their credit profiles.
