Credit cards are used for a number of financial purposes ranging from paying your bills on time to staggering the bills across equated monthly instalments (EMIs) or for consolidating multiple bills into one. Aside from all this, you can also use a credit card for debt consolidation. What it essentially means is that you can … Read more
If you are set to get a credit card, there are a slew of features that you should be aware of. There is no denying the fact that a credit card enables you to get interest-free time — usually 40-45 days — when you use it to procure items of necessity or luxury. It works … Read more
As a credit card user in India, it’s crucial to understand key metrics that can impact your financial health. One of the most important of these is the credit card utilisation ratio. This article will explore what credit card utilisation is, how it affects your credit score, and practical steps to manage it effectively. What … Read more
Are you contemplating applying for a new credit card at a bank? It is definitely a smart thing to do but you should apprise yourself of its pros and cons, and importantly of its key characteristics. Here, we give a lowdown on the usage of a credit card, and its key features that will perhaps … Read more
Possessing a credit card is not only uncommon but somewhat close to financial necessity in current times. However, before you procure a credit card, be mindful of a number of thumb rules; for instance, the unpaid dues accrue a very high rate of interest — sometimes as high as 3-4 per cent per month or … Read more
So you have your credit card and your bank has given you an offer of some tempting loan offers. You have been eying those money splurging dreams that you have been waiting so hard for, that trip to Bali or London, that fancy bike, that LCD TV, etc. You have the urge to max out … Read more
What is the credit utilisation ratio? The credit utilisation ratio measures the amount of credit an individual utilises from the credit limit available to them. For example, an individual has a credit card with a limit of Rs. 1 lakh and has utilised the card for Rs. 20,000. In this case, the individual’s credit utilisation … Read more
Maintaining a healthy credit score is vital for financial stability. There are numerous factors responsible for a healthy credit score such as length of credit history and credit utilisation ratio. Additionally, if you are struggling to make payments, consider reaching out to your creditors to discuss alternative payment arrangements or hardship programs. Your bank may … Read more
When you fall ill, you are advised to see a doctor. Similarly, when your credit score is not in good health, it is recommended to see a credit counsellor. Credit counselling is likely to have a range of effects on your CIBIL score, based on your individual financial situation and how you make use of these … Read more
Establishing a good CIBIL score is vital for young professionals since this can positively impact their ability to access credit in the future. One should avoid excessive debt, manage credit responsibly, and stay disciplined with their finances in order to achieve a strong credit score. As a matter of fact, maintaining a good credit score … Read more