Credit score

Canceling Your Old Credit Card? How It Can Impact Your Credit Score

Wed, Dec 18, 2024

Your credit utilisation ratio is the proportion of your total available credit that you're currently using, and it significantly impacts your credit score. To maintain a low ratio, avoid maxing out your credit cards and try to keep your usage below 30 per cent of your total credit limit.

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What is a Secured Credit Card? Learn Its Key Features and Benefits

Fri, Nov 29, 2024

A secured credit card is a financial tool offered against a fixed deposit. One of its main benefits is the relaxed eligibility criteria. Unlike regular credit cards, secured cards don't place as much emphasis on factors like credit score, income, or employment during the application process. This is because the fixed deposit serves as collateral, reducing the risk for the issuer. If you fail to repay your balance, the issuer can liquidate the fixed deposit to recover the dues, minimising their risk.

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DTI Ratio Explained: How a high debt-to-income ratio can lead to loan rejection & how to improve

Fri, Oct 11, 2024

Learn about the Debt-to-Income (DTI) Ratio and its impact on loan approval. Understand how a high DTI ratio can lead to loan rejection and discover ways to improve your DTI for better financial health.

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Credit Score Myths: Clear these 5 misconceptions now to avoid financial harm

Fri, Oct 04, 2024

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Troubled by huge credit card bills? How to avoid being a defaulter

Fri, Sep 06, 2024

If you are one of them and struggling with a large credit card bill, a balance transfer might be a helpful solution. This method can prevent you from falling deeper into debt—but it requires you to have more than one credit card. Let's explain what a credit card balance transfer is, when it’s beneficial, and when it could pose a risk.

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5 things you must do after repaying home loan, failing which may lead to problems in future

Fri, Sep 06, 2024

Home Loan Repay: A home loan is a long-term commitment that takes years to repay. When the final EMI is paid, it’s natural to feel a sense of relief and accomplishment as the burden of debt is lifted.

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Want 800+ Cibil score to get low-interest rate loan? Follow these 6 time-tested tips from expert

Mon, Aug 12, 2024

6 ways to improve Cibil score comprehensively: A higher utilisation ratio can pose a negative impact on your score. Experts suggest a good utilisation ratio to be under 30 per cent.   

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Comprehensive guide to understanding and improving your CIBIL Score for better credit

Thu, Aug 08, 2024

A CIBIL Score, ranging from 300 to 900, represents an individual's creditworthiness based on their credit history. A higher score improves chances for loan and credit card approvals at favorable terms. We have brought you a comprehensive guide to understanding and improving your CIBIL Score for better credit.

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RBI has made these 5 rules regarding CIBIL; if you are going to take loan, you must know about them

Mon, Jul 08, 2024

RBI Rules for CIBIL Score: The Reserve Bank was receiving a lot of complaints regarding the credit score. With a lot of complaints piling up, a few months ago, the central bank gave a major update regarding the CIBIL score and make the rules stricter.

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CIBIL Score: 5 RBI rules you must know before applying for LOAN - Details

Sun, Jul 07, 2024

CIBIL Score For Loan, RBI Rules For CIBIL: The Reserve Bank of India (RBI) was flooded with complaints regarding the credit score. Due to this, the central bank issued a major update related to the CIBIL score to make the rules stricter. 

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How difference of just 100 points in Cibil score may force you pay Rs 10.41 lakh extra on Rs 50 lakh home loan

Tue, Jun 11, 2024

Most of us have the dream of buying a home. However, homes are expensive, and one relies on home loans to fulfil their dream. Lenders check an applicant's Cibil score before extending the loan offer.

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A Bounced Cheque Lowers Your Credit Score: 5 credit score myths you shouldn't believe at all

Wed, May 29, 2024

Credit Score Myths: When you apply for a loan, your credit score is one of the first things checked. Also known as the CIBIL score, this number ranges from 300 to 900 and reflects your creditworthiness.

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Credit Card Tips: Should you carry one card for all purposes or different cards for different purposes?

Tue, May 07, 2024

Credit card use provides one with the facility to purchase a thing even if they don't have hard cash at that point in time. They can buy anything by making an entire payment or in instalments. Another important factor that has encouraged people to use credit cards is multiple promotional offers available on them. 

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5 easy ways to boost your Cibil score and its benefits

Thu, May 02, 2024

Your Cibil score is your credit health report card that shows your creditworthiness. Lenders judge your creditworthiness according to your Cibil score. A high Cibil score helps you get loans on favourable conditions and a credit card with a high limit.

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Cibil Score: Need Cibil score of over 750; use these tricks of trade to improve Cibil score

Mon, Dec 04, 2023

Lenders use your creditworthiness through Cibil score. Missing a single credit card payment or EMI can affect your Cibil score and force you to miss a chance of taking a loan at a low interest rate. You need to maintain a Cibil score of 750 and over to improve your chance of getting the best credit facilities from banks or NBFCs. We will tell you 7 mistakes that is spoiling your Cibil score and suggest you ways to take it over 750 points.

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CIBIL Score: Tips and Tricks to Boost Your Credit Score and Get a Loan Faster

Sun, Oct 01, 2023

Want to improve your credit score and get approved for a loan with a lower interest rate? Here are 5 tips that will help you boost your CIBIL score and achieve your financial goals.

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Credit Card: What to do if your credit card company suddenly changes the terms of your card?

Fri, Sep 29, 2023

Credit card issuers can change the terms of the cards, leaving cardholders with the option of either opting out or shifting their cards. 

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Know these credit score myths before starting your credit journey

Tue, Sep 26, 2023

Credit score is one of the most important factors that lenders evaluate and research before approving or declining a loan. 

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Can a loan foreclosure spoil my credit score?

Fri, Sep 22, 2023

 Loan foreclosure is the process of making a complete repayment of the loan amount before the end of the tenure. Loan foreclosure can affect a borrower's credit score, both negatively and positively.

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What is bad credit score: Factors that affect credit score, and how it can be improved?

Thu, Aug 17, 2023

Credit score: Consistently paying credit card bills and loan EMIs on time demonstrates a borrower's reliability and boosts their credit score.

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Credit Score-Free Loans:RBI set to launch pilot for a public tech platform for 'frictionless credit

Mon, Aug 14, 2023

In the coming days, RBI's 'Frictionless Credit Platform' will allow loans without credit score. How will this Frictionless Credit platform of RBI work? Know here....

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Credit Card: These proven techniques will help you get the best credit cards available in the market

Thu, Aug 03, 2023

A credit score of 750 and above is considered good if you want to apply for credit cards and loans. There are also other factors like your credit history and income levels, among others, which could impact the approval for a new credit card.

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Credit Card: 3-day grace period for credit card payments

Tue, Jul 25, 2023

The Reserve Bank of India has announced a new guideline that gives credit cardholders a 3-day grace period to make their payments without incurring any extra charges. This is a welcome relief for credit cardholders, as it will give them some breathing space if they are unable to make their payments on time due to unforeseen circumstances.

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