Avoid THIS credit card scam to protect your CIBIL score
India TV NewsBanks often promote their credit cards aggressively because they earn a lot of money from various fees associated with their use. Image Source : FILECredit card scam How it affects your credit score This approach is being used by many banks and agencies, so it’s important to be cautious about such credit cards. For instance, if you have a low limit, say Rs 20,000, and you spend Rs 15,000, that means you're using 75 percent of your limit, which can lead to a lower credit score. These agencies are incentivised to sell new cards and trick their potential customers with promises of high limits and they end up with much lower limits, which can hurt their credit score. If you ever find yourself deceived by one of these agencies, do not activate the credit card to help protect your credit score.
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