The FinTech Hub
Source: Live Mint If you are looking for a loan in the near future, it is vital to have a strong credit score. Generally, a credit score above the level of 700 is believed to be good, which not only helps you secure a loan but also get it at a lower rate of interest. Therefore, a…
Source: Live Mint You must understand how marriage affects your credit score so you are aware, in control and are always the head of your money life. Therefore, to put it simply, your marriage does not have any impact on your credit score because your marriage status is not kept by credit bureaus such as…
Source: Live Mint Two important resources for managing your own financial affairs are your credit score and your credit report. But the landscape of credit scoring can be a bit confusing given the many forms of scores and reports that are out there. The many varieties of credit scores and reports are outlined in this…
Source: Live Mint However, his credit card statement in August 2024 shocked him. He was charged the annual fee despite spending ₹16 lakh— ₹1 lakh more than the fee waiver threshold—in the year since his card was issued. To be sure, all banks levy the annual fee on the first statement after 12 months from…
Source: Live Mint A good credit score is one of the pre-requisites for obtaining a loan. The credit score is mainly dependent on your credit report. But what happens if your loan application is rejected due to inaccuracies and outdated data on your previous loans in your credit report? The decision to grant a loan…
Source: Live Mint Regularly checking your credit score and credit report is always a good idea. It will help you stay updated with all the information related to your loans and credit cards. It will also help you identify any incorrect information or wrong entries in your credit report, which can affect your credit score…
Source: Live Mint An individual’s credit score is mainly affected by factors like timely EMI and credit card bill payments, credit utilisation ratio, secured and unsecured credit mix, number of credit applications and their frequency, ageing of loans and credit cards, etc. There are a lot of myths and misconceptions about some other factors that…
Source: Live Mint A credit score of 750 or higher is usually considered good for approving loan applications, provided the other eligibility criteria are fulfilled. However, some people who have never availed of a loan or are new to credit will see that their credit score is negative or zero. You need not be alarmed…
Source: Live Mint Assessing your financial health is extremely important for your future borrowings. If you are planning to consider a personal loan or a credit card, then you must have come across the terms ‘credit score’ and ‘CIBIL score’. Before you apply for any credit, it is extremely important that you understand the difference…
Source: Live Mint To get a personal loan, an individual has to fulfil the eligibility criteria. The applicant’s age should be within the specified age bracket; income should be higher than the specified minimum amount; should have a stable career with specified minimum work experience; the credit score should be equal to or higher than…
