To lay the groundwork for future financial goals, students need to build a robust credit score. This helps them maintain a clean credit profile and boosts their repayment capacity. A clean credit profile and strong credit score, anything above 750, helps immensely when applying for loans and new credit cards, renting apartments or even securing … Read more
To combat the ever-rising number of credit card defaults in India, leading financial institutions and banks have implemented strict rules for recovering overdue amounts. Kotak Mahindra Bank, in accordance with Reserve Bank of India (RBI) regulations, ensures that overdue recovery notices are delivered to credit card users seamlessly. This process involves several steps, from initial … Read more
Maintaining a clean credit profile and a good credit score is essential for securing personal loans, credit cards and other similar credit instruments. Due to the recent Reserve Bank of India regulations, Indian credit card users can now cross-check their credit scores for free through the official websites of authorised credit bureaus. Credit Score: Basic … Read more
Wealth advisors often recommend investors to keep checking their credit score from time to time. This leads to an array of advantages. You get to know whether there is an error in the credit report that should be rectified and by checking your score regularly, you can keep yourself updated of the changes in your … Read more
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, and … Read more
As the Indian economy continues to evolve and grow, the travel theme is gaining traction. The aspiration to visit new places and travel with joy is becoming an integral part of life for many Indians. Now, to meet such aspirations quickly and seamlessly, more and more people are applying for personal loans and opening up … Read more
In personal finance, the terms ‘credit report’ and ‘credit score’ are often used interchangeably, though they represent different concepts. Both serve as tools for assessing the creditworthiness of loan applicants and borrowers, but understanding the difference between them is crucial. 1. Definition, meaning and purpose A credit report is a complete and comprehensive white paper … Read more
A credit score is nothing but a credit profile of an individual. It is a score card that helps in telling the lender as to how creditworthy, honest and sincere the loan applicant is with regards to repayment of their loans. Not only this, an individual’s clean credit profile, a high credit score also signifies … Read more
Petrol pumps in India are becoming hotspots for credit card fraud, with incidents of card skimming and fraudulent transactions on the rise. To keep your financial information secure, users should exercise caution when using credit cards at petrol pumps and gas stations. Card skimming is a method used to steal personal data from ATM, debit, … Read more
Balance transfers together with loan refinancing help people address the challenges associated with debt management. These debt reduction solutions have separate functions for your finances although they fulfil different goals depending on your financial needs. Knowledge about credit points stands essential for making wise financial decisions that respect your monetary targets. What is balance transfer? … Read more