While getting a new credit card can be a sound financial choice, it can have negative effects on your credit score. No matter your reason for getting a new credit card, be it to build your credit more or earn better rewards incentive, it’s very important to understand how new credit cards will influence your … Read more
Whenever you apply for a loan or a credit card, the bank makes a credit enquiry, which is reflected in your credit report. Such enquiries appear at the bottom of your CIBIL report under the “Enquiry Details” section. Once in a while, you may come across an inquiry that you don’t recognise. It can be … Read more
With India’s socio-economic landscape rapidly evolving—driven by a growing young population entering the credit market and rising consumption demand in rural areas—financial management has become an increasingly important topic. This shift has brought greater focus on financial education and literacy, particularly in the realm of personal finance, lending, and borrowing. Financial literacy not only plays … Read more
Applying for a loan is a significant financial choice, and it is crucial to be aware of how it will impact your credit score. Borrowers are often concerned about whether a loan denial will damage their credit worthiness, and to protect and improve your financial well-being, this article examines the links between applying for a … 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
Credit inquiries are important to help you maintain your credit score to as high a number as possible. In India, there exist two distinct kinds of credit inquiries: Hard inquiries and Soft inquiries. Both are for different purposes and have varying implications on your credit score, personal loans interest rates and associated terms. Here, we … Read more
Unlike a soft inquiry which is carried out when you check your credit score, a hard inquiry happens when you apply for a loan. This leads to an adverse impact on your credit score, albeit temporarily. It is for this reason that it borrowers are recommended to apply for multiple loans within a short span … Read more