New-to-credit customer? Opt for a secured credit card, say experts

BNPL, small-ticket consumer loans are other options to build credit history

If you are young, have started working recently, you may have undergone the unpleasant experience of applying for a loan, only to see it getting rejected.

You are not alone.

According to a study by TransUnion, there were more than 160 million underserved customers in India at the end of 2021.

The report defines underserved customers as those whose participation in the credit market is limited to a single type of loan product, with no more than two open accounts for that product.

Such customers’ access to credit remains limited, although they have been in the credit market for at least two years.

“These are