The FinTech Hub
Source: Live Mint Do you use a credit card linked to the UPI? If yes, you obviously have a higher propensity to overspend. We tend to make a ₹40 worth transaction here or ₹50 worth transaction there – and as a result, we don’t even realise before we end up spending ₹10,000 or more. Not uncommon?…
Source: Live Mint If you are a frequent traveller to the destinations in India and overseas, and you like to travel in luxury, then it is advisable for you to carry a credit card. Aside from using it for travel bookings, you can use your credit card to get access to airport lounges. However, it is vital to…
Source: Live Mint Using a credit card affects your credit score in a number of ways. The factors which determine your score include the payment history, credit utilisation ratio and the length of credit history, among others. Here explain each of them in detail: 1. The payment history: When you make payment on time, it boosts your…
Source: Live Mint A credit card not only allows you to use credit for making payments and buying merchandise, but it also gives a range of complimentary services alongside. Some of these services include discounts on shopping, dining and movies while other services fall in the broader theme of lifestyle. Aside from these services, banks…
Source: Live Mint You and I and everyone else is chronically online. Kittens and puppy videos are so basic, we share cringe content with our besties. So when Bollywood realises that the cop uniform on every actor is no longer working for anyone, they run Southwards. This time to Tamil cinema to borrow a love…
Source: Live Mint A FICO score is a credit risk measurement tool. It is developed by Fair Isaac Corporation. It is a tool which summarizes an individual’s repayment behavior and it is primarily based on their credit history. It is important to acknowledge that the FICO score is not used extensively in India like the…
Source: Live Mint Managing your spending through credit cards remains useful but you should regularly check transactions to dodge unnecessary fees. Among the terminology on your credit card account stands “unbilled amount.” Your unbilled expenses impact your total spending level even though you have not received a formal invoice for these items. They also affect…
Source: Live Mint When used judiciously, credit cards can offer several benefits like instant discounts/cashbacks, up to 50 days interest-free credit period, complimentary airport lounge access, reward points, etc. However, if the monthly bill is not paid by the due date, the cardholder has to pay finance charges and monthly interest of up to 3.75%…
Source: Live Mint History holds significance as it helps understand past events, which aids in making sense of the present, and taking informed decisions for the future. For financial institutions (FIs), such as banks and non-banking financial companies (NBFCs), understanding the history of a customer in terms of how he/she has managed credit in the…
Source: Live Mint To maintain optimum financial health and a respectable credit score, it is imperative for you to understand the implications of closing a credit account on the integrity of your current credit score. What is a credit score? Your credit score is a numerical representation of your creditworthiness. It ranges from 300 to…
