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Credit card: Should you ever use the entire credit limit? How does it impact your credit score?

If you use a credit card, you should remember that spending more than the ideal credit limit is not recommended. The ideal credit utilisation ratio is 30 percent. If your credit limit is ₹7 lakh, then as per the ideal credit utilisation ratio, you should not spend more than ₹2.10 lakh. A low credit utilisation ratio is typically considered good …

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Did you know you can raise a personal loan to maintain a high credit score?

If you are in urgent need of money and your credit card's limit is close to running out, you may consider raising a personal loan instead. Instead of exhausting the entire limit of this card and avoiding applying for another credit card at the eleventh hour, you can instead raise a personal loan. For instance, when your card limit is …

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Do You Exhaust Your Credit Card Limit? A Look At The Disadvantages

Most people use credit cards to manage their expenses these days. Some people run all their expenses with a credit card because it helps them keep track of their expenses every month. Are you one of those people who spend the entire credit card limit every month? Maintaining a low CUR can improve your chances of increasing the credit limit …

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How To Increase The Credit Card Limit And What Are Its Benefits

There is a growing trend of using credit cards these days. 3. Credit Utilisation Ratio : The CUR states that if your credit card limit is up to Rs 2 lakh, out of which you have spent Rs 20,000, then your CUR will be 10 percent. You can request that the bank increase the credit card limit. Sometimes, seeing the …

Mastering Your Credit Score: Expert Tips For A Healthy And Accurate Profile

A credit score is a numerical representation of an individual’s creditworthiness. “Hard inquiries may temporarily impact the credit score, as they signal to lenders that the person might be acquiring additional debt,” says Chattopadhyay. “When you access your credit report from any credit bureau, it is classified as a soft inquiry, and it does not have any impact on your …