Credit cards have gained prominence in India, a country that has relied on cash for a long time, as the need for credit has been increasing rapidly across the nation. However, while having credit cards is common in developed countries, India is continuously failing as the credit rating system has failed to flow in line with the majority of the population.
This is something that up Slice is aiming to work on, and its move is to expand its credit card offerings and launch a card with a limit of ₹2000.
Slice is known to offer its customers flexibility in paying credit card bills and reward points on transactions. It is also known for its Visa cards and is now rapidly working on the widespread adoption of credit cards in the Indian market.
This new card will provide benefits like no fees on joining or annual charges. Thus, it seeks to provide a fresh start to early credit users in the country and help them create a good score over time.
According to the Slice founder, the new credit limit is for the individuals who do not have a good credit score or any score for that matter, and the new card helps them build it.