Credit History

A simple, practical guide to starting your credit journey without falling into early debt traps.

How women can leverage credit scores for financial independence

Happy International Women’s Day! In today’s video, we celebrate women’s progress in achieving financial independence and discuss how women can leverage their credit scores to unlock the doors to homeownership. From understanding the importance of a strong credit score to practical tips on building credit—whether you're a homemaker or a working professional—we share simple steps to help you start your financial journey and secure the best home loan terms. Join us as we highlight the growing number of women borrowers and explore how you can use financial tools to create lasting financial freedom.

What is credit utilisation? Here's how it affects your credit score

Credit utilisation ratio reflects how much of your available credit you're using. A lower ratio indicates responsible credit usage and positively impacts your credit score.

Credit Score: When does a closed credit account reflect in your credit score?

Closing a credit account can temporarily impact your credit score. Credit bureaus refresh your credit report on a monthly basis, however, any new activities may take up to 3 to 4 months to reflect in your credit report.

Don’t be loanly: Perk up your credit profile with these tips

By carefully selecting the appropriate loan product and ensuring timely repayment, borrowers can enhance their credit score, opening the door to better deals and lower interest rates.

Your credit score report: How to ensure accuracy and maintain a healthy credit profile

Errors in your credit report can dent your chances of getting a loan or even a credit card. If you spot errors, make sure you get them rectified at the earliest.

Do you exhaust your credit card limit often? Your credit score could come under pressure

Late or missed loan and credit card payments can impact your credit score adversely. Credit score checks by different banks while processing your loan application too, can have a temporary negative impact. But if you check your credit score, that will not have a negative impact.

Looking out for lower interest rates on home loans? A good credit score helps

If you credit score is over 750-800, most banks and housing finance companies will offer their best – that is, lowest – interest rates to you.

The right way to get the first credit card and build a credit history

You can apply for a credit card from a bank you have your salary account with or opt for a secured credit card. Top tips: purchase consumer electronics on monthly instalments and, most importantly, repay before the due date to build a good credit history.

Now, claim compensation for delay in rectifying errors in credit reports

RBI has announced measures to let borrowers seek compensation for delay in updation or rectification of credit reports, improve transparency in credit information companies’ disclosures

Fallen into a credit card debt trap? Here are strategies to pay off your debt

Several millennials are falling into credit card debt because of an expensive lifestyle. But there are some strategies to pay off credit card debt

Many youngsters have an expensive lifestyle and are in debt. It is a slippery slope: Ritesh Srivastava, CEO of FREED

Credit counselors can come to the rescue of those who are burdened with debt – as long as they have a source of income and the intent to repay.

Got your first credit card? Now use it to build your credit score

Ensure timely payments of your monthly dues. This has a significant impact on your credit score, affecting your ability to obtain loans in the future. For those who have just got their first credit card, at the start of their earning careers, it can be a good tool to build a good credit score. But if you misuse it, there are repercussions

How to select your first credit card?

There are hundreds of kinds of credit cards on offer from banks. Some levy no fees for life and other come with annual charges. To select the best card to begin with, look at your spending habits and preferences to find the best fit.

Credit cards: Keep in mind these factors before opting for EMIs

EMIs are one of the most attractive features of a credit card. But beware: always ensure that you spend within limits, so that you are able to pay your bills on time and avoid the hefty finance charges and penalties that can lead to a debt spiral.

Errors in your credit information report? File a complaint with RBI’s integrated ombudsman

The banking regulator has decided to bring credit information companies into its integrated ombudsman mechanism net

Want a loan or credit card? File your income tax return first

Filing income tax return may not be mandatory if your income is below the basic exemption limit. But several benefits and the right to claim tax refunds are open to only those who file their income tax returns

TransUnion CIBIL study: More than 160 million Indian consumers are credit underserved

Credit cards and instalment-based credit schemes such as Buy-now, Pay-later are the most commonly used credit products by the underserved consumers

Credit cards are not evil; just understand the maths to use them smartly

Don’t get into hacks like revolving credit card usage, and maintaining multiple cards, to get longer interest-free periods that many influencers promote these days.

Uncleaned credit cobwebs of the past could muddy future loan prospects

In several instances, the borrower gets to know of the impaired credit history only while applying for a new loan

A mother's struggle for edu loan inspired this fintech startup

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.

Home loans based on credit rating finally arrive in India

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, &#82