The FinTech Hub
Source: Live Mint In India’s ever-evolving, dynamic financial landscape, clearly understanding how loan inquiries impact your credit score is of utmost importance. This is important because a low credit score makes it very difficult to secure future loans, credit cards, etc. This can complicate matters during difficult times such as medical emergencies, home renovation work,…
Source: Live Mint While getting a new credit card can be a sound financial choice, it can have negative effects on your credit score. No matter your reason for getting a new credit card, be it to build your credit more or earn better rewards incentive, it’s very important to understand how new credit cards…
Source: Live Mint Whenever you apply for a loan or a credit card, the bank makes a credit enquiry, which is reflected in your credit report. Such enquiries appear at the bottom of your CIBIL report under the “Enquiry Details” section. Once in a while, you may come across an inquiry that you don’t recognise….
Source: Live Mint With India’s socio-economic landscape rapidly evolving—driven by a growing young population entering the credit market and rising consumption demand in rural areas—financial management has become an increasingly important topic. This shift has brought greater focus on financial education and literacy, particularly in the realm of personal finance, lending, and borrowing. Financial literacy…
Source: Live Mint A pre-approval is often a common step to receive financial products such as credit cards, mortgages, or car loans. It is important you understand how these pre-approvals affect your score to ensure you are not compromising your financial health. This content will discuss the effects of pre-approvals on credit scores, explain soft…
Source: Live Mint Applying for a loan is a significant financial choice, and it is crucial to be aware of how it will impact your credit score. Borrowers are often concerned about whether a loan denial will damage their credit worthiness, and to protect and improve your financial well-being, this article examines the links between…
Source: Live Mint A lot of people may be shocked to discover that a loan can still be declined even if they possess a good credit score. While this may be infuriating, it is important to understand that your creditworthiness encompasses more than a three-digit number. Lenders will review multiple factors before they solidify their…
Source: Live Mint Wealth advisors often recommend investors to keep checking their credit score from time to time. This leads to an array of advantages. You get to know whether there is an error in the credit report that should be rectified and by checking your score regularly, you can keep yourself updated of the…
Source: Live Mint Credit inquiries are important to help you maintain your credit score to as high a number as possible. In India, there exist two distinct kinds of credit inquiries: Hard inquiries and Soft inquiries. Both are for different purposes and have varying implications on your credit score, personal loans interest rates and associated…
Source: Live Mint Unlike a soft inquiry which is carried out when you check your credit score, a hard inquiry happens when you apply for a loan. This leads to an adverse impact on your credit score, albeit temporarily. It is for this reason that it borrowers are recommended to apply for multiple loans within…
