Articles for Your Credit Score

Can you get a personal loan with low credit score? Check details
4 days, 16 hours ago

Can you get a personal loan with low credit score? Check details

India Today  

Getting a personal loan with a low credit score might seem challenging, but it’s not impossible. HERE ARE SOME TIPS FOR OBTAINING A PERSONAL LOAN WITH A LOW CREDIT SCORE Bring in a guarantor or co-applicant Personal loans are unsecured, meaning no collateral is required. If your credit score is below the lender’s threshold, consider involving a guarantor or co-applicant …

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How to get a personal loan if you don't meet eligibility criteria? Here are 8 easy steps
5 days, 16 hours ago

How to get a personal loan if you don't meet eligibility criteria? Here are 8 easy steps

India TV News  

Getting turned down for a personal loan can be frustrating, but not meeting the right standards doesn’t mean all hope is lost. Banks and financial institutions check a variety of factors such as your credit score, income, existing debts and documents before approving a loan. Consider low-cost loans If your income or credit score can’t support the amount of loan …

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How to calculate EMI for instant personal loans? A step-by-step guide
1 week, 3 days ago

How to calculate EMI for instant personal loans? A step-by-step guide

Live Mint  

Instant personal loans are a popular choice for people looking for instant cash to cover their expenses. What is an instant personal loan EMI calculator An instant personal loan EMI calculator is an online tool which helps you calculate your EMIs accurately and quickly. Since the loan tenures provided in instant personal loans is shorter as compared to other loans, …

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Avoid THIS credit card scam to protect your CIBIL score
1 week, 3 days ago

Avoid THIS credit card scam to protect your CIBIL score

India TV News  

Banks 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 …

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Choosing the Right Type of Personal Loan for You
1 week, 4 days ago

Choosing the Right Type of Personal Loan for You

Live Mint  

Among the diverse financial products available today, personal loans stand out as a flexible and accessible option for individuals looking to meet their financial needs. Whether it's consolidating debt, funding a wedding, or managing unexpected medical expenses, personal loans can be the bridge to achieving your financial goals. Types of Personal Loans Understanding the different personal loan types can help …

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Personal Loan: 6 factors that determine your interest rate
1 week, 5 days ago

Personal Loan: 6 factors that determine your interest rate

Live Mint  

When you apply for a personal loan, the banks consider different factors to determine the interest rate chargeable. Macro interest rate scenario Depending on the macro interest rate scenario in the economy, banks decide the interest rates chargeable on personal loans and other loans at a broader level. Your higher credit score can help you get a personal loan at …

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Credit Score: How multiple loan inquiries impact your score and how to protect it
1 week, 6 days ago

Credit Score: How multiple loan inquiries impact your score and how to protect it

Live Mint  

Credit score is a three digit score which is given to you by credit bureaus which acts as a reflection of your credit profile and your creditworthiness to your creditors. Multiple loan inquiries to different creditors can negatively affect credit score. Let us understand how multiple loan enquiries affect your credit score and discuss the ways through which you can …

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Credit Card: How closing an account can impact your credit score
1 week, 6 days ago

Credit Card: How closing an account can impact your credit score

Live Mint  

Although it may seem like the easiest step towards being financially free, closing a credit card can have a major impact on your credit score. Your credit score might decline when you close an older credit card because it could reduce the average age of your credit history. Too many cards to handle: If you have several and can't control …

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Think you know credit scores? These 9 facts will surprise you
1 week, 6 days ago

Think you know credit scores? These 9 facts will surprise you

Live Mint  

Whenever you apply for a loan or a credit card, your credit score plays an important role in determining whether the bank will approve or reject your application. No loan or credit card equals no credit score To build and maintain a good credit score, you have to avail a loan or use a credit card regularly. A high credit …

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Managing multiple credit cards? Here are 10 essential tips you need
2 weeks ago

Managing multiple credit cards? Here are 10 essential tips you need

Live Mint  

A credit card is considered one of the most convenient financial tools for making emergency payments. It is important to strategise expenses in line with your credit limit and make bill payments on time, especially when you have multiple credit cards. Make a budget Before using multiple credit cards or planning to get many cards, it is important to make …

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Credit Cards: How do they affect your credit score and loan eligibility?
2 weeks, 3 days ago

Credit Cards: How do they affect your credit score and loan eligibility?

Live Mint  

Credit cards are a great way to save smartly on your transactions and earn exclusive rewards and discounts on your favourite brands. Credit cards may affect your credit history and also impact your credit score as well as your future loans. Aim to utilise only 30-40% of your credit limit to maintain a low credit utilisation ratio, which is vital …

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How to check CIBIL score using a PAN card without OTP? A Step-by-step guide
2 weeks, 3 days ago

How to check CIBIL score using a PAN card without OTP? A Step-by-step guide

Live Mint  

Knowing your CIBIL score is the first step towards understanding your financial health. Duplicate PAN card: Your CIBIL score is not affected if you apply for a duplicate PAN card when you lose the original. New PAN card: Your credit history may become more complicated if you apply for a second PAN card because your PAN is associated with every …

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Understanding CIBIL: What is it and how it works?
2 weeks, 4 days ago

Understanding CIBIL: What is it and how it works?

India Today  

A CIBIL score is a 3-digit number that summarises your credit history, rating, and report, ranging from 300 to 900. Your credit score is based on this data, and the company creates a Credit Information Report that includes details like your loan repayment history, credit card payments, and ongoing debts. UNDERSTANDING YOUR CIBIL SCORE AND ITS IMPACT ON LOAN APPROVAL …

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How can a high or low credit score affect your personal loan interest rate? Check here
2 weeks, 6 days ago

How can a high or low credit score affect your personal loan interest rate? Check here

Live Mint  

From home improvements to surprise medical costs, personal loans are great for a majority of uses. The impact of credit score on personal loan interest rates 1. Determining interest rates: Your credit score will directly decide about interest rates offered to you, wherein good scores usually get eligible for more competitive rates reducing your cost of borrowing. Speed of loan …

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Personal Loan: 6 crucial things you need to know before borrowing
2 weeks, 6 days ago

Personal Loan: 6 crucial things you need to know before borrowing

Live Mint  

If you are planning to take a personal loan, it is important that you keep a few aspects in mind before you start with your application process. 6 key factors to consider before applying for a personal loan Understand your credit report: Credit score plays a major role in the personal loan approval process. Beware of misleading offers: Many lenders …

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Emergency Fund vs. Personal Loan: Which option is best for your financial crisis?
2 weeks, 6 days ago

Emergency Fund vs. Personal Loan: Which option is best for your financial crisis?

Live Mint  

An emergency crisis can come at any point in your life. However, it is important to understand whether or not you should take a personal loan or utilise emergency funds in such situations. Advantages of personal loans Protect savings: Getting a personal loan can be a good option if your total savings will completely get exhausted in case of an …

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What is a credit card limit and why is it crucial for your finances?
2 weeks, 6 days ago

What is a credit card limit and why is it crucial for your finances?

Live Mint  

Credit limits in credit cards greatly impact your money decision making. If you've never used a credit card before, you're likely to have a small limit initially, which you can increase by using it responsibly. Benefits of higher credit limit Better credit utilisation ratio: A bigger limit results in better credit scores because it decreases your utilisation percentage. In conclusion, …

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How to build good credit as a student? Here are 5 key ways
2 weeks, 6 days ago

How to build good credit as a student? Here are 5 key ways

Live Mint  

As a student, managing finances can become tough sometimes. A healthy credit score also helps you get your desired credit cards with a high spending limit and exclusive deals. Apply for a student credit card A student credit card is one of the best ways for you to create your credit history. Use education loan wisely An education loan is …

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Credit score vs credit report: Know the major difference between financial terms
2 weeks, 6 days ago

Credit score vs credit report: Know the major difference between financial terms

Live Mint  

Credit reports and scores are vital determinants in the contemporary financial world as they determine our prospects. Credit reports include all about a person's credit life history, it tells their credit use, pay status history, different types of credit as well as any open-for-public records showing financial actions. Many lenders also consider credit scores from multiple bureaus and often use …

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Credit Score: How is it calculated and what factors influence it?
3 weeks ago

Credit Score: How is it calculated and what factors influence it?

Live Mint  

A credit score is a three-digit number that helps lenders assess your eligibility for loans or credit cards. Let us have a look: Factors affecting credit score calculation Payment history: Your payment record is the record of loans and credit accounts like credit card, personal loans, home loans and others. Different types of credits like home loan, personal loan as …

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Credit Card Dues: 5 key benefits of paying on time for better financial health
3 weeks ago

Credit Card Dues: 5 key benefits of paying on time for better financial health

Live Mint  

Making timely credit card payments is a way to ensure financial security and provides benefits beyond the mere avoidance of late fees. Avoid paying costly interest charges: With yearly interest rates sometimes ranging from 35% to 40%, credit cards generally have some of the highest rates in the financial industry. Increased credit limit: Banks may increase the credit limit if …

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Want better credit score? Here are 7 key tips to help you get there
3 weeks ago

Want better credit score? Here are 7 key tips to help you get there

Live Mint  

To be considered eligible for any financial need like home loans and credit cards, one has to have an elevated credit score. A better loan offer and financial option lies ahead with a better score, which means lesser risk, as lenders use your credit score to determine your ability to repay a loan. You could damage your credit score if …

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Credit card: Should you ever use the entire credit limit? How does it impact your credit score?
3 weeks, 2 days ago

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

Live Mint  

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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Rejected credit card? Here’s what to do next: A step-by-step guide
3 weeks, 3 days ago

Rejected credit card? Here’s what to do next: A step-by-step guide

Live Mint  

Credit cards are one of the most preferred financial tools as they help customers make purchases without the need to pay back immediately, along with added rewards and offers. Applying for a credit card is very easy, however, issuers look for many criteria before approving a credit card application therefore many applications get rejected. Reasons for rejection of credit card …

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