A credit card not only allows you to use credit for making payments and buying merchandise, but it also gives a range of complimentary services alongside. Some of these services include discounts on shopping, dining and movies while other services fall in the broader theme of lifestyle. Aside from these services, banks also offer concierge service…
History holds significance as it helps understand past events, which aids in making sense of the present, and taking informed decisions for the future. For financial institutions (FIs), such as banks and non-banking financial companies (NBFCs), understanding the history of a customer in terms of how he/she has managed credit in the past is critical…
To maintain optimum financial health and a respectable credit score, it is imperative for you to understand the implications of closing a credit account on the integrity of your current credit score. What is a credit score? Your credit score is a numerical representation of your creditworthiness. It ranges from 300 to 850 and reflects…
Maintaining a credit score above 700 (measured by CRIF High Mark, Experian or Equifax) calls for credit discipline. This means one should clear one’s credit card bills and loan repayments on time. Additionally, one should keep the credit utilisation ratio (CUR) under the optimum level of 30 percent. Aside from this, one should make sure…
BOBCARD, a subsidiary of Bank of Baroda, has unveiled its latest campaign titled #ReimagineLoveWithBOBCARD – 2.0. As the Valentine’s season kicks off, BOBCARD has announced an array of offers across a number of brands on its credit cards including Amazon, Myntra, Flipkart, Goibibo, Zomato, PVR Inox and more. Be it a romantic dinner, a luxurious getaway,…
Your credit cards consist of a three digit security number which is known as a CVV (Card Verification Value). Often overlooked, the CVV plays a significant role in ensuring the security of your transactions. This number prevents unauthorized payments and also saves you from scams. Let us understand what CVV is and its importance in…
Whenever an individual applies for a credit product like a loan or a credit card, the bank evaluates whether they can approve or reject the application. Among the various eligibility criteria, an important one is to assess whether the individual will repay the credit extended. It is done by evaluating the individual’s credit worthiness. In…
The ICICI Coral Credit Card, is a unique credit card offering of ICICI Bank. It is designed in a way to offer customers exceptional benefits and rewards. These rewards are provided in categories such as dining, entertainment, travel, spending etc. Brief history of ICICI Bank Now before understanding the details of the credit card it…
Closing or cancelling a credit card is a big financial decision which could impact your credit score and overall financial health. Should any of these motives apply-debt consolidation, avoidance of an annual fee, or general simplification-it is crucial to follow the proper procedure. Here we will describe the main steps to be taken while cancelling…
To build and maintain a good credit score, you must access your credit report and score and monitor it regularly. Similarly, when you apply for a credit product, the financial institution has to access your credit report and score. Depending on who accesses your credit report and score, you or the financial institution, and under…
