Slice has made a good positioning in the market among people who don’t have a credit score like students, or housewives. So if you don’t have built any credit score, then Slice can be a good option for you to build your CIBIL.
Secondly, you can avail yourself of the benefits of Zero fee Slice credit card.
But if you already have credit cards, then honestly you can avoid Slice because it’s not a credit card, in fact, it’s a prepaid card with a line of credit, the company offers to you.
In simple words, you can borrow some preapproved amount as credit using the card or even transfer it to the bank account as emergency cash. The credit amount keeps on increasing if you repay on time.
But here’s a catch. There’s an active loan always be showing in your CIBIL. It will affect your credit score adversely if you already have other loans standing in your credit report and missing any payment may worsen your credit score further.
Apart from that, my slice credit card review will help you understand the benefits, cons, and my onboarding experience with you to help you make an informed decision.
Click here to apply for Slice Card & get Rs 200 and use code SLCPY373483 while signing up.
Features & Benefits of Slice Credit Card
#1. Help You Build CIBIL Score
If you are a newbie and you don’t have a CIBIL score built, then going for the Slice credit card is a good option because Slice doesn’t require the credit score to open the account.
And once you get your credit card, you can easily build up your credit score with regular usage and timely repayments.
#2. No Cost EMIs
Slice allows you to pay your bills in 3 EMIs without paying any additional charges.
But if you want to pay your Slice credit card bill in more than 3 EMIs, you’ll have to pay around a 12-15% of interest rate.
Also read – Best Citibank Credit Card in India
#3. Slice Sparks
You get different offers every week from top brands like Myntra, Flipkart, IRCTC. Slice has named these offers as Slice Sparks.
#4. Cashback Offers
When you spend on a slice card you receive cashback in the terms of Monies. On average you get 1%-2% cashback. The conversion rate is shown below –
#5. Zero Forex Markup Fee
I was amused to see Slice super card offers ZERO currency conversion charges.
Also read – Best American Express Credit Card in India
Disadvantages of Slice Credit Card
#1. High Charges
1. Heavy penalty charges
The biggest con of Slice it card is you have to pay hefty outstanding charges if you don’t pay your bill on time. The charges table is as below –
Now for example, if you have spent Rs. 20,000 from your slice credit card and you are 10 days late in repaying your credit card bill, you will have to pay Rs. 1000 as penalty charges which are massive in amount.
Uni card is a better option as they have a flat fee structure and don’t charge any interest on the outstanding amount.
2. ATM withdrawal charges
Along with that, if you withdraw money from any ATM using a Slice card, you will be charged Rs. 50 per withdrawal.
Not only this, but you will also have to pay Rs. 25 if you transfer money from the ATM.
#2. Accessing Personal Details
Another disadvantage that troubled me is Slice demands access to your personal data like reading messages, emails, and even location.
But Slice doesn’t stop here. They even access your Facebook id and LinkedIn id as well.
If you are curious to know about what Slice people do with your Facebook and LinkedIn accounts, then read the next point carefully.
#3. Calling Relatives and Friends
As I have already told you Slice may access your Facebook and LinkedIn accounts, so you must know that slice people can fetch close friends or relatives from your Facebook and LinkedIn accounts and may start calling them for selling their products.
Check out – Best SBI Credit Card in India
My Slice Credit Card Onboarding Experience
I found the slice sign-up process super easy and it took less than 5 mins to apply for the slice card.
Let’s discuss the whole process step by step
Step #2 – Open the app and click on “Apply Now”.
Step #3 – Enter your email address, and click on “Continue”.
Step #4 – Fill in your personal details, like phone number, PAN card number.
(They do check your credit report but even if you don’t have the credit score built, you can still get the Slice card).
Step #5 – Verify your Aadhar KYC and it’s done.
You’ll be able to see the sanctioned credit limit there.
You have now gone through the detailed slice credit card review, but if you are still confused, then let me show you who should ideally go for the slice card –
- If you do not have your credit score built, then you should go for the Slice card because timely repayment of slice credit will help you build a good credit score, and moreover, it’s free (No joining, No annual fee).
- If you want to make international transactions like buying a domain or any course outside India, then the Slice card can save you some money with zero foreign markup fee.