The Credit Score Gatekeeper
If you have a "Thin File" (no credit history), getting a standard (unsecured) credit card is nearly impossible. This is where secured cards come in, acting as a bridge to a prime credit score.
Unsecured Cards: The Reward Kings
Most cards you see advertised are unsecured. They don't require a deposit and are issued based on your income and credit score. They offer the best rewards, lounge access, and high credit limits. However, they require disciplined repayment as the interest rates are typically 36-45% p.a.
Secured Cards: The Builders
Secured cards are backed by a Fixed Deposit (FD). Your credit limit is typically 80-90% of your FD amount. Since the bank has no risk, they are "Guaranteed Approval." In 2026, many fintechs offer these with zero annual fees to help Gen-Z start their credit journey.