Getting my First Credit Card by arunava

View this thread on: hive.blog | peakd.com | ecency.com

hive-167922 · @arunava · Nov 15 '21

$13.79

Getting my First Credit Card

<center>

![image.png](https://files.peakd.com/file/peakd-hive/arunava/23wgQCic9yBvTXHtmSRNYVFHmT8m6yQ1fRNoAFvtnmAmTLKdEFfywPah28oUQDvdSNmxh.png)
[Source](https://production-content-assets.ratecity.com.au/20200117/i-stock-1141302392-8A0hOfw1K.jpg)
</center>


Getting my First Credit Card was quite a hassle for me as I didn't have a job and even though my account had decent Cash and Cash Transactions almost no Bank was willing to give me a Credit Card. They were asking for a Credit History which I cant show cause I don't have a Credit Card or a Tax Return for 3 years which I can't show either as I didn't have a job yet. So it seemed that there was no way for a 23-year-old guy with no Job History to get a Credit Card in India but thankfully someone in my relatives was a tad bit Financially Savvy and knew something that the Banks never told me so let me tell you how you can get a Credit Card even though you do not qualify according to the Bank Rules.


## Make a Fixed Deposit

You need to make a Fixed deposit of a certain amount of money preferably 120 percent of whatever amount you want as your Credit Limit. In my case, I made an FD for 100000 INR for one year and asked the bank to give me a credit card against my Fixed Deposit and I got my Credit Card within the day with an 80000 INR Credit limit. You need to pay attention to the fact that your Credit Card gets linked to your FD and in order to break your FD, you will need to surrender that Credit Card first as the FD acts as Collateral for your Credit Card.


This was something I did which even though worked out well for me I have one extra step that you guys can take to better this deal. Instead of making an FD for 1 year take it for 6 months and just before your 6 months are coming to an end ask the bank for a new Credit Card. Now you should have a Credit History of 6 months thanks to the Credit Card you got in Collateral to your FD so if your Bank is good enough they will give you a New Credit Card. So after the 6 month time is over you can surrender your old credit card and get your money out of the FD.

##### I know it's a tedious process but if you don't have a good Credit History then you gotta do these things to get a Credit Card the easy way.



![image.png](https://files.peakd.com/file/peakd-hive/arunava/23ynMzJiApWJV3693dnFG4cW27j31i4xXLxK3oc6DkDg6Kpzdeb1yV55Rk8mrxqeR6rZk.png)


Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@arunava/getting-my-first-credit-card)

👍 redes, ph-support, project.hope, arunava, nathanmars, ssjsasha, vlemon, quochuy, steemitcentral, crypto.piotr, wilhb81, josevas217, smartvote, sbi8, beatminister, louisthomas, samminator, ctime, arcange, help.venezuela, gohive, hivelist, thetimetravelerz, awah, carrieallen, kristall97, laruche, franyeligonzalez, jlvillamizar, pablo1601, karupanocitizen, akdx, adesojisouljay, lanzjoseg, alvinauh, qsyal, machnbirdsparo, lastminuteman, jagged, syedumair, mariusfebruary, reverseacid, mccoy02, ahlawat, zoniacb, legoman, yohan2on, fortunex, tolustx, shortsegments, lifecruiser, psicologiaexpres, tomlee, tysler, yurilaya, steemitboard, walterjay, peerzadazeeshan, ph-fund, london65, coinlogic.online, valchiz, trabajosdelsiglo, sholly1, and 31 others

`author`	arunava
`permlink`	getting-my-first-credit-card
`category`	hive-167922
`json_metadata`	{"app":"leofinance/0.2","format":"markdown","tags":["finance","leofinance","piotr","palnet","neoxian","gems","india","posh","life","credit"],"canonical_url":"https://leofinance.io/@arunava/getting-my-first-credit-card","links":["https://production-content-assets.ratecity.com.au/20200117/i-stock-1141302392-8A0hOfw1K.jpg"],"image":["https://files.peakd.com/file/peakd-hive/arunava/23wgQCic9yBvTXHtmSRNYVFHmT8m6yQ1fRNoAFvtnmAmTLKdEFfywPah28oUQDvdSNmxh.png","https://files.peakd.com/file/peakd-hive/arunava/23ynMzJiApWJV3693dnFG4cW27j31i4xXLxK3oc6DkDg6Kpzdeb1yV55Rk8mrxqeR6rZk.png"]}
`created`	2021-11-15 17:55:39
`last_update`	2021-11-15 17:55:39
`depth`	0
`children`	4
`last_payout`	2021-11-22 17:55:39
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	6.918 HBD
`curator_payout_value`	6.871 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	2,484
`author_reputation`	486,833,495,810,777
`root_title`	"Getting my First Credit Card"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	107,768,101
`net_rshares`	9,456,396,594,268
`author_curate_reward`	""

properties (23)vote details (95)

voter	rshares	pct
ssjsasha	556,893,526,080	100%
arcange	56,301,287,144	1%
raphaelle	511,951,668	1%
redes	2,367,978,871,146	35%
walterjay	3,067,440,166	0.17%
lastminuteman	8,816,194,433	38.25%
steemitboard	3,108,120,074	1%
louisthomas	69,400,606,629	100%
gbenga	1,058,262,207	51%
beatminister	73,234,693,821	100%
jagged	8,508,193,220	25.5%
arunava	842,236,201,733	50%
samminator	65,096,381,814	51%
felt.buzz	1,529,747,566	0.17%
nathanmars	594,566,273,441	10%
qsyal	10,928,132,783	25.5%
syedumair	8,229,950,714	5.1%
ahlawat	6,201,586,555	22.5%
valchiz	2,380,707,493	25.5%
vlemon	352,305,277,092	75%
carrieallen	17,865,111,327	15.3%
vishalsingh4997	901,338,206	25.5%
thetimetravelerz	32,040,976,193	51%
cjsean	850,067,371	17.85%
lifecruiser	3,946,922,258	25.5%
alvinauh	11,560,554,729	25.5%
mtl1979	1,076,638,181	25.5%
tolustx	4,528,226,013	25.5%
fortunex	4,659,615,283	25.5%
sholly1	2,265,352,969	51%
gamsam	469,246,576	25.5%
legoman	5,398,507,802	51%
adesojisouljay	12,194,134,901	25.5%
gandhibaba	1,432,661,634	5.1%
trabajosdelsiglo	2,347,174,885	25.5%
wilhb81	94,678,194,721	12.75%
lanzjoseg	11,644,437,200	6.37%
victorialanz	1,749,549,769	40.8%
steempampanga	1,703,773,886	25.5%
yurilaya	3,281,995,646	25.5%
yohan2on	5,282,682,129	25.5%
zoniacb	5,783,138,852	51%
peerzadazeeshan	2,689,248,294	38.25%
josevas217	92,196,420,712	25.5%
karupanocitizen	12,575,769,448	25.5%
franyeligonzalez	14,535,359,057	25.5%
machnbirdsparo	8,900,237,770	25.5%
quochuy	227,504,953,911	8.02%
mariusfebruary	7,894,765,092	25.5%
crypto.piotr	137,972,482,560	51%
akdx	12,443,657,577	12.75%
truthtrader	1,009,449,943	25.5%
tysler	3,580,493,186	48.45%
foxicoreviews	653,414,775	40.8%
shortsegments	4,403,849,940	2.55%
cyberspacegod	1,295,332,087	100%
smartvote	84,741,406,373	4%
quatro	1,399,208,533	20.4%
rakison2	1,403,557,624	25.5%
cleanplanet	1,762,046,806	0.17%
london65	2,469,118,260	22.95%
steemitcentral	151,237,971,822	70%
sbi8	78,483,869,563	41.55%
reverseacid	7,572,732,232	51%
conectionbot	1,582,280,295	37.5%
kristall97	17,093,007,334	5%
pablo1601	13,792,464,029	12.75%
edgarare1	936,463,334	25.5%
mintymile	1,918,065,282	50%
esclavos75	2,025,349,505	12.75%
ctime	56,597,284,836	2.5%
cabalen	668,731,899	17.85%
help.venezuela	46,811,590,649	30%
theithei	1,020,248,654	20.4%
tinster	737,887,341	25.5%
tomlee	3,762,495,441	19.12%
project.hope	1,086,053,920,009	51%
coinlogic.online	2,397,189,684	7.5%
ph-fund	2,657,797,386	51%
toni.curation	216,664,341	4%
awah	24,572,616,527	20.4%
fengchao	1,983,516,068	1%
laruche	14,585,371,521	0.35%
anahid	1,336,607,300	25.5%
gradeon	1,782,756,968	7.5%
hive-143869	642,131,758	0.35%
hivelist	33,126,094,527	7.5%
ph-support	1,960,578,773,473	51%
gohive	39,097,549,981	100%
psicologiaexpres	3,852,586,384	15.3%
mccoy02	6,693,913,429	25.5%
potpourry	542,173,495	15.3%
jlvillamizar	14,275,725,302	51%
williamtboy	204,616,390	19%
indra13	111,669,251	100%

@beatminister · Nov 15 '21

You may be happy to have that card now, but actually it is a bit as if a slave says "Yay, I got my first set of chains!"
A credit card is ok, if you need it for payments that cannot be done cash or otherwise. But whatever you do - don't use it as a credit card! Meaning, don't use it as a loan method. If you do, you will always struggle to pay the borrowed money and the hilarious interest they charge. Only use it with money you have actually stored in the account.

properties (22)

`author`	beatminister
`permlink`	r2ml66
`category`	hive-167922
`json_metadata`	{"app":"hiveblog/0.1"}
`created`	2021-11-15 18:10:57
`last_update`	2021-11-15 18:10:57
`depth`	1
`children`	3
`last_payout`	2021-11-22 18:10:57
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	467
`author_reputation`	49,647,579,566,756
`root_title`	"Getting my First Credit Card"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	107,768,407
`net_rshares`	0

@arunava · Nov 15 '21

I know man it is indeed a trap but I treat this as free money as I use my Credit Card for all my monthly Expenses including gas and everything and I always have some Money Invested in a Liquid Fund which is exactly the amount to my Credit Limit so thanks to my Credit Card I earn money from that.

I never use Credit Card if I don't have the money to pay for it next month as that would be a disaster in making.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@arunava/re-beatminister-7msgns)

properties (22)

`author`	arunava
`permlink`	re-beatminister-7msgns
`category`	hive-167922
`json_metadata`	{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@arunava/re-beatminister-7msgns"}
`created`	2021-11-15 18:20:12
`last_update`	2021-11-15 18:20:12
`depth`	2
`children`	2
`last_payout`	2021-11-22 18:20:12
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	509
`author_reputation`	486,833,495,810,777
`root_title`	"Getting my First Credit Card"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	107,768,597
`net_rshares`	0

@beatminister · Nov 15 '21

Well, best is to never let it go into the debit side at all. I have a Visa card and I always keep it a few thousand bucks on the plus side, that way I can use it to pay things without paying any interest or fees. And because its from Amazon its free and I get various % discounts when I use it. And it doesn't matter to store money on the card, since saving accounts in a bank don't pay any interest anymore nowadays.

properties (22)

`author`	beatminister
`permlink`	r2mn3q
`category`	hive-167922
`json_metadata`	{"app":"hiveblog/0.1"}
`created`	2021-11-15 18:52:39
`last_update`	2021-11-15 18:52:39
`depth`	3
`children`	0
`last_payout`	2021-11-22 18:52:39
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	417
`author_reputation`	49,647,579,566,756
`root_title`	"Getting my First Credit Card"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	107,769,174
`net_rshares`	0

@erikah · Nov 15 '21

With banks there's no such thing as free money. That's an illusion. 

I see you do another post in a few months about how much the credit card costs you. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@erikah/re-arunava-4r5ygq)

properties (22)

`author`	erikah
`permlink`	re-arunava-4r5ygq
`category`	hive-167922
`json_metadata`	{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@erikah/re-arunava-4r5ygq"}
`created`	2021-11-15 21:09:09
`last_update`	2021-11-15 21:09:09
`depth`	3
`children`	0
`last_payout`	2021-11-22 21:09:09
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	246
`author_reputation`	2,471,410,231,660,643
`root_title`	"Getting my First Credit Card"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	107,771,562
`net_rshares`	0