[ad_1] Credit cards are credit instruments. They help users in securing credit on the promise of making payments within the stipulated time as per the contractual commitments between the credit card user and the lending institution. Now, cancelling a credit card comes with its own complexities, issues and problems. It can definitely impact your credit…
[ad_1] Sometimes, individuals come across situations that can drain their finances or lead to income stopping. For example, a major medical emergency, accident, etc., can lead to a huge hospital bill and drain personal finances. A situation like Covid led to many people losing their jobs, a pay cut, etc. During such situations, servicing personal…
[ad_1] In India, credit rating bureaus generally provide credit scores ranging from 300 to 900. A credit score of 720 is typically considered a strong indicator of an individual’s financial health. It reflects responsible financial management and credit behaviour while also opening doors to various financial opportunities, such as easier loan approvals, fair repayment terms,…
[ad_1] Life’s most consequential change of status brings extensive social transformations and emotional impacts which also affect your financial situation. Joint financial decisions made with your spouse will impact both your creditworthiness regardless of how marital union does not immediately merge credit scores. Knowledge about how marriage impacts your credit can assist you both to…
[ad_1] It is often emphasised that credit card users should check their credit report at least once in a year. This not only helps them stay updated of their creditworthiness, but also flags any error which may have cropped up for no fault of theirs. What does one do in case there is an error in the…
[ad_1] With the speed of finance today, monitoring your credit health like an eagle has never been more important. For Indian consumers, where credit access is becoming a necessity for everything from home loans to personal loans, frequent credit report updates are no longer a luxury, they are a must. Hence, understanding how these changes…
[ad_1] Credit score is an important metric which banks and other financial institutions check before they take a decision whether to disburse a loan or not. There are a number of credit bureaus which enable users to check credit score. When the credit score is high, banks and NBFCs are more than willing to offer loans…
[ad_1] Discovering unauthorized queries in your credit report is a gut punch. It can signal potential fraud and impact future access to credit. Time counts to protect your financial well-being. Here is how to tackle those suspicious entries: Notify the credit bureau immediately: Call your respective credit bureau directly. Report the unauthorized inquiries to them….
[ad_1] Do you use a credit card regularly and happen to delay your bill payment at times? You should remember that the negative information with regards to your credit card and personal loan can stay on your credit report for longer than you can imagine. Not many may be aware that the information regarding default…
[ad_1] 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…
