Summary: This article guides us on using credit cards wisely by paying bills in full, building a strong credit score, earning rewards without overspending, and treating the card as an emergency tool, all while debunking myths about interest payments. Jump to the conclusion Introduction You’ve got a new credit card in your wallet and you…
Summary: This article outlines practical strategies to maintain a CIBIL score of 800 or higher, emphasizing timely payments, low credit utilization, and disciplined debt management for better loan terms and financial stability. Introduction I know that you are aware how important a CIBIL score is in for us, if not, I’ll suggest you read this…
Summary: Let’s explore whether you can live a normal life in India without a credit score, highlighting how daily expenses can be managed without one, but major goals like buying a house or traveling abroad often require a credit history for smoother, cost-effective outcomes. Introduction Why everyone keeps talking about credit scores? You’ve got your…
Summary: This article guides young people with no credit history on building a credit score from zero, detailing the timeline, six months for a starter score, 12–18 months for a “good” score, and 18–36 months for an “excellent” score—while sharing practical hacks and common pitfalls to avoid. Introduction Recently I got an email from one…
Summary: This guide explains credit scores and reports in India, detailing how to build and improve your credit for better loan and credit card opportunities. Introduction You’ve probably heard the term “credit score” being used casually by people around you. Do you know what it actually means? I’ll tell you more about what is “credit”…
The Credit Utilization Ratio is a crucial aspect of credit scoring. It measures the percentage of available credit a person is using. It is calculated by dividing total credit card balances by the sum of credit limits. For instance, if someone has a credit limit of INR 100,000 and an outstanding balance of INR 30,000,…
Recently a person told me that his credit card company is offering a higher credit limit to him. He asked about the benefits of a high credit limit on credit cards. He was doubtful whether a high limit is beneficial or otherwise. I think many people face a similar dilemma. Hence I thought to write…
It sometimes puzzles me that why do credit cards offer rewards. Customers like you and me can pick and choose credit cards based on suitable rewards they offer. Once we have a credit card that offers rewards, we can go around swapping them in our purchases. Suggested Reading: Utility of credit utilization ratio explained with…
If we have a credit card & we do not know how to use credit card it’s a problem. It is like not-knowing how to use a knife. To cook food use of knife is essential. But knife can also injure a person if not used properly. Similarly, improper usage of credit card can cause…
