The power of a fixed deposit credit card for homemakers

Priya, a homemaker, has always dreamed of financial independence. She wants to manage her expenses, build her credit history, have a fixed deposit (FD), and a financial safety net. But like many homemakers, she lacked a traditional income source and credit history, making it difficult for her to get a credit card.

One day, Priya discovered the FIRST EA₹N Credit Card by Metra Trust, a fixed deposit credit card, designed specifically for people like her. Intrigued, Priya explored the FIRST EA₹N RuPay Credit Card further, hoping to unlock her path to financial independence.

Like Priya, many don't know how to get credit against a fixed deposit. Here’s a blog to explain how to get one.

What is a credit card against fixed deposit?
 

A credit card against fixed deposit, is a secured credit card offered when you open a fixed deposit account with a bank. Having an FD significantly lowers the applicant’s risk profile, making them eligible for a credit card, regardless of their credit history or income. Such credit cards, backed by an FD, are more commonly known as secured credit cards.

The credit limit of secured credit cards is usually a percentage of the FD amount.

How does a fixed deposit credit card help homemakers?
 

Fixed deposit credit cards are a valuable financial tool, especially for homemakers who struggle to access traditional credit products due to low or no credit scores.

Here's how a credit card against FD can empower and benefit homemakers:

• Builds credit score -

To establish a healthy credit score, homemakers must use the card responsibly and make timely payments. This is crucial because a good credit score opens doors to other financial products like loans, mortgages, and even better credit card offers in the future.

• Earn rewards and cashback -

A credit card lets you take advantage of discounts or cashback offers, thereby resulting in significant savings over time.

• No income proof required -

Unlike traditional credit cards, fixed deposit credit cards don't require any proof of income. This makes them an excellent option for homemakers who may not have a regular income, but still need a financial tool to manage their expenses.

• Guaranteed approval -

Since secured credit cards are backed by a pre-determined fixed deposit amount, their approval is virtually guaranteed. This drastically increases your chances of being eligible for one.

• Stay prepared for emergencies -

Life is full of surprises, but you have a financial safety net with your credit card's credit limit. Unexpected medical bills, urgent repairs, or sudden travel needs won't catch you off guard.

• Peace of mind -

Knowing you have access to emergency funds provides invaluable peace of mind, allowing you to focus on what matters most - your family and home.

• Financial empowerment -

A good credit score signifies financial responsibility and opens doors to greater financial freedom and independence.

FIRST EA₹N – A secured RuPay Credit Card suited for homemakers
 

The FIRST EA₹N Credit Card isn’t just another credit card. It’s a powerful financial tool tailored to the unique needs of homemakers. This UPI-enabled, virtual credit card opens doors to financial flexibility and independence while offering all the benefits of credit cards against fixed deposits:

• Welcome and annual renewal benefits –

The journey starts with a warm welcome of 100% cashback up to ₹200 on the first four UPI transactions i.e. ₹50 per transaction within 15 days of card issuance via the Metra Trust mobile banking app. And the rewards continue yearly with the same renewal benefit, ensuring the excitement never fades.

• Cashback on all spends –

UPI is one of the most preferred modes of payments in India, and the FIRST EA₹N Credit Card maximises such spends. Enjoy a rewarding 1% cashback on UPI spends made through the Metra Trust app. Furthermore, get 0.5% cashback on online spends, UPI transactions via other apps, insurance premiums, utility bills, and wallet recharges further amplifies the savings potential.

• Entertainment perks -

Movie nights become more enjoyable with a 25% discount of up to ₹100 on Paytm movie tickets. This is a little treat for the times you decide to unwind and relax.

• Complimentary roadside assistance -

Unexpected vehicle troubles won't leave you stranded. This card comes with complimentary roadside assistance, offering timely support when needed.

• Lost card liability cover -

Misplacing your credit card won't lead to financial worries. The card includes a lost card liability cover of ₹25,000, ensuring your peace of mind.

• Personal accident cover -

Life is unpredictable, but this card protects you financially. It comes with a personal accident cover of ₹2,00,000, safeguarding you and your family against unforeseen events.

How homemakers can use the FIRST EA₹N Credit Card
 

The FIRST EA₹N RuPay Credit Card easily integrates into your daily life with its virtual form factor, making it easier and more rewarding -

• Pay with UPI -

Say goodbye to fumbling for cash or entering card details during the point of sale. Link your FIRST EA₹N Credit Card to any UPI app for a smooth and efficient checkout experience.

• Online shopping –

Use the FIRST EA₹N RuPay Credit Card to pay online via UPI or by entering your card details at the checkout stage. Earn 0.5% to 1% cashback depending on the app you choose to pay.

• Scan QR codes to pay –

Whether at a local shop or a mall, use your FIRST EA₹N RuPay Credit Card linked to UPI to scan and pay in a jiffy.

• Bill payments -

No more standing in long queues for bill payments. Pay your utility bills, school fees, and other recurring expenses with a few clicks, saving you precious time and effort, while earning cashback simultaneously.

• Plan movie dates -

Spend quality time with your loved ones by making the most of the 25% movie discount offer on Paytm.

• Simplify home expense management-

With the user-friendly Metra Trust mobile banking app, you can manage your credit card payments with ease. You can also see where you’re spending money to identify where to cut back or save more.  

Your path to financial independence
 

The FIRST EA₹N Credit Card is a game-changer for homemakers seeking financial empowerment. This fixed deposit credit card is more than just a payment tool; it's a gateway to building credit, managing finances smartly, and enjoying exclusive rewards.

Don't miss this opportunity to take charge of your financial well-being. Apply for the FIRST EA₹N RuPay Credit Card today and unlock a world of financial possibilities.