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Tag: Credit score

CIBIL Score and Income: Does Higher Income Mean Better Score?

CIBIL Score and Income: Does Higher Income Mean Better Score?

CIBIL Score and Income: CIBIL Score, also known as a Credit Score, is a three-digit number that shows your creditworthiness. It is issued by credit bureaus like TransUnion CIBIL. This score is calculated based on your past financial behaviour including loan repayments, credit card usage, and other transactions. A score of 750 or above is […]

Does Your Credit Score Impact Visa Applications?

Does Your Credit Score Impact Visa Applications?

Credit Score Impact Visa Application: When applying for a visa, many people wonder if their credit score affects the approval process. The simple answer is that a credit score does not directly decide whether a visa will be granted. However, it can still play an important indirect role in shaping how financially stable and reliable […]

Loan Settlement vs Full Repayment: Pros, Cons and Credit Score Impact

Loan Settlement vs Full Repayment: Pros, Cons and Credit Score Impact

Loan Settlement vs Full Repayment: Pros, Cons and Credit Score Impact. While in debt, two possible roads are the prime consideration for borrowers, loan settlements or full repayments. Both set the debt, yet their impact on finance and credit varies vastly. Loan Settlement A loan settlement means a borrower and lender settle for less than […]

How to Build a Solid Credit Score from Scratch

How to Build a Solid Credit Score from Scratch

Credit Score from Scratch: If you’re new to credit and don’t have a credit score yet, don’t worry! Building a solid credit score from scratch is possible. Whether you’ve just started working or have never taken a loan or used a credit card, here are some effective ways to start your credit journey. Credit Score […]

Impact of Closing Credit Card on Your Credit Score

Impact of Closing Credit Card on Your Credit Score

Impact of Closing Credit Card: Closing a credit card is an important financial decision. It can affect your credit score negatively, but there are ways to minimize the impact. Let’s explore how closing a credit card can influence your credit score and the steps you can take to protect it. Impact of Closing Credit Card: […]

6 Credit Card Mistakes You Should Avoid to Protect Your Credit Score

6 Credit Card Mistakes You Should Avoid to Protect Your Credit Score

Credit Card Mistakes: Credit cards can be a helpful tool for managing finances, but if not used correctly, they can harm your credit score. Many people, especially those with lower incomes, depend on credit cards to manage monthly expenses. However, small mistakes with your credit card usage can lead to a drop in your credit […]

Simple Ways To Lower Your Loan EMI: What Banks Don’t Always Tell You

Simple Ways To Lower Your Loan EMI: What Banks Don’t Always Tell You

Personal loans are useful for times when you urgently need money. They are usually easy to get approved, and have flexible terms, but high interest could result in a larger, sometimes unmanageable, monthly EMI that can be tough for some borrowers. Luckily, with planning and some decisions on your behalf, you can fit your EMI into […]

No Credit Score Needed: Faster Loan Approvals With New Lending System

No Credit Score Needed: Faster Loan Approvals With New Lending System

Getting a loan approved in India may soon be faster and easier because of a new system called Unified Lending Interface (ULI). This digital platform is being developed for all banks and lenders by the Department of Financial Services of the Ministry of Finance. ULI will help speed up loan approvals and will likely be […]

10 Surprising Reasons Banks May Decline Your Credit Card Application

10 Surprising Reasons Banks May Decline Your Credit Card Application

Credit Card Rejection Reasons : Getting a credit card application rejected can be frustrating, but it’s often a sign that you need to reassess your financial habits and credit history. Several factors may contribute to a rejection, some of which might surprise you. Here are ten reasons why your credit card application could be declined: […]

Hidden Flaws in India Credit Score System You Need to Know About

Hidden Flaws in India Credit Score System You Need to Know About

India Credit Score System: In India, credit scores have become a powerful tool, influencing everything from loans to job opportunities. This three-digit number, ranging from 300 to 900, can decide whether you qualify for a credit card, a home loan, or even medical services. However, many people are discovering that the system is far from […]

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