If you have multiple credit cards, you need to manage each of their payment cycles systematically.
If your credit score is zero, it means you do not have a credit history. With no credit history, banks have no data to assess your repayment behaviour and you will be profiled as a ‘risky’ prospect.
There are various factors that influence a credit score, major being - payment history, credit utilization ratio, length of credit history, type of credits (secured v/s unsecured) and number of inquiries.
About 20-35 percent of the near 40,000 consumers of Cibil have paid off any balance dues after checking their score.
Banks have their reservations as well. With housing prices going up constantly and banks having a good deal of NPAs, lenders also evaluate the property and the borrower‘s profile before handing out loans.
Banks assess an applicant‘s potential to pay back a loan in terms of various parameters including his credit score, age, source of income.
Bad credit scores can often be the reason why a bank will reject your loan application. CreditSeva is among the startups trying to remedy this problem.
It is better to do the home work before signing above the dotted line. Home loans being large and long term liability it makes all the more important to understand what matters.
It is not difficult to fund your business with borrowed money, but do not fall victim to myths.
There are various factors that determine whether you will get a home loan or not. Consequently, it is advisable to know your home loan eligibility in advance, so that you can plan the purchase R
Your credit history and credit score used to play a decisive role in determining whether you would get a home loan or not and it would stop there. You would get a home loan, R
It is better to know about credit score in detail before applying for a loan or a credit card.
An important advantage of a pre-approved loan is that you know your spending limit. It also helps in striking a better deal with the developer.
Customers with a good loan repayment track record and strong financials may get loans which are at least 50-75 basis points cheaper than a customer with a bad credit score.
A few right steps can help you appear creditworthy in the eyes of bank.
While trying to pay off your debts is a good move, it is not always financially advantageous.
Payday loans can turn out to be extremely expensive for you due to the high-interest rates and a lot of other hidden reasons. Instead, a personal overdraft is a better choice to make where a borrower can get credit on-the-go without any tedious formalities and paperwork.
Keeping your credit utilization ratio low is a smart thing to do, as most financial institutions and lenders use this as a parameter to assess a person‘s credit-managing abilities.
Before you make a decision about lending to a friend, it‘s important to know and to understand why he needs money from you.
It allows purchasing what we cannot afford in the immediate present and converting our 'wants' into 'needs'.
With the increasing aspirations of the young generation, along with astronomical prices of houses, most home buyers today, seek to avail of home loans to fund their property purchase. However, there are various factors, R
Also known as credit card takeover loan, this can help you get rid of credit card debt.
When you apply for a loan, the lender lodges an inquiry with the credit bureau to pull a copy of your credit report. This way, your credit score comes down by a few points.