The FinTech Hub
Source: Live Mint It is important to understand and know about credit scores. So that one is financially healthy in India. Still, there are a few myths when it comes to credit scores which will end up costing you money. This write up is dedicated towards putting to rest some myths about how credit score…
Source: Live Mint A credit score is an important metric of your financial liquidity. This is a three-digit number that gives an indication of your creditworthiness. Lower the credit score, poorer the creditworthiness and conversely, higher this number – higher the creditworthiness. Before banks offer loans to someone, they tend to judge a person’s creditworthiness via…
Source: Live Mint Your financial well-being depends on having an accurate credit report. Errors can harm your credit score and impact your potential to secure loans or credit cards. What is a credit score dispute? A credit score dispute is a process through which you can raise disputes or inaccuracies in your credit report that…
Source: Live Mint It can become very confusing to understand how your credit score is fluctuating all the while you are regularly paying your bills in time. Here are some reasons which could lead to a drop in your credit score even if you are prompt in paying your bills. High credit utilization ratio Your…
Source: Live Mint If you are a regular credit card user, you would be receiving the credit card bill on a regular basis i.e., every month. And you would typically have an option of either paying the minimum due on it or clear the bill in full. Regardless of your temptation to pay the minimum due, one…
Source: Live Mint Discovering unauthorized queries in your credit report is a gut punch. It can signal potential fraud and impact future access to credit. Time counts to protect your financial well-being. Here is how to tackle those suspicious entries: Notify the credit bureau immediately: Call your respective credit bureau directly. Report the unauthorized inquiries…
Source: Live Mint To navigate the world of credit cards and loans in India it is important to understand your credit score. It is a three digit number that represents your creditworthiness, thus influencing loan eligibility and interest rates. Still, with multiple credit bureaus and scoring models this can be confusing. Types of credit scores…
Source: Live Mint RBI recently directed the credit information companies (CICs) that they need to update their record every 15 days instead of one month. This will help the borrowers keep their data updated. The Reserve Bank of India made it compulsory for the banks to update credit bureau records every 15 days. This may change…
Source: Live Mint According to Paisabazaar’s, its free credit score service has been utilized by more than 50 million users. Since its 2017 inception this program has transformed India’s credit market by enabling 16% of the nation’s active credit score users to access their scores through Paisabazaar’s platform. Improved credit scores for millions The company…
Source: Live Mint A credit score is a three digit number. It typically ranges from 300 to 850. A figure between these two digits predicts an individual’s creditworthiness and summarizes his or her credit history. Lenders use this score to analyze the risk of lending a borrower with funds. A higher score indicates a lower risk and…
