Query - Change OneCard secured (FD backed) to unsecured
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I had taken OneCard secured CC (FD backed) around 9 months ago at approx. 7.5% pa.
At that time, I was being told that they'll be more or less likely to convert me to unsecured credit card as the process is in pipeline. About 3 months from now, the FD will mature and auto-renew, so, I casually emailed them stating I no longer want to continue with secured credit card as I've a decent lineup of 10+ credit cards with CIBIL score of 770+ and having FD backed card is not worth it.
I'm getting repeated response that there's no such feature available to change FD based CC to unsecured one.
From what I can recall, people have got this done in the past, right? I don't want to close this CC as I won't be able to get this card ever again. I do agree it's not a valuable CC but it's decent, LTF, cool tech behind and convenient for fuel purchases. Till the time I don't get a four-wheeler, my fuel expenses are pretty much on the lower side and this CC serves the purpose of fetching 1% cashback on fuel expenses within 2k a month.
Suggestions please from those who've been able to get the FD backed CC converted to unsecured one.
Also, what's OneCard lite?
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There is no such feature.
It was just misinformation by onecard.
They said your chances of getting unsecured will increase at time of creating an account.
Anyways why you need it.
It has no offers nowadays far better cards available by bank like sbi cashback card.
I've already mentioned in original post -
I do agree it's not a valuable CC but it's decent, LTF, cool tech behind and convenient for fuel purchases. Till the time I don't get a four-wheeler, my fuel expenses are pretty much on the lower side and this CC serves the purpose of fetching 1% cashback on fuel expenses within 2k a month.
But it won't be a valuable CC if I'll have to continue as a FD backed credit card. Let's see how the negotiation goes with them, still have 3 more months to go before I decide what to do.
It was same FD rates for me
I closed my card last month
Cause wo paisa normal shere kharid k bhi rakh dun to monthly jyada milega Onecard k reward points se
no way to convert secured onecard to unsecured one for now..
keep in mind, if you close your current onecard, then you can't onboard again on onecard.
so. just keep it, maybe they will introduce conversion in near future.
Me looking for the same answer since sometime. If anyone has any info, will be highly appreciated.