Credit Cards are both boom and doom for a user. The scenario depends on how good a user is in debt or credit management. I using credit cards from last 12 years and i have never defaulted on bill payments of the credit cards. I am not saying that i am the BEST in debt management but i learned fast from my initial mistakes. Once i knew the tricks of the trade i turned, credit cards to my advantage. I shared some of these tricks in my posts, Credit Card - Save While You Spend and How to Use Credit Cards Smartly? Otherwise, credit cards can be a wealth destroyer. As a customer, i am playing ... Read More
Low CIBIL Score – Check your Credit Utilization
Low CIBIL Score is now synonyms to Loan or Credit Credit Card Rejection. There is a common perception that Low CIBIL Score is only due to default or delay in payment of credit card bill or loan EMI. It is not 100% correct. Low CIBIL Score has very strong co-relation with overall credit eligibility. "Credit Eligibility" means max credit that a person can avail and "Credit Utilization" is actual credit availed. It is important to maintain a fine balance between credit eligibility, credit requirement & credit utilization. Optimum distribution of credit is essential depending on your current ... Read More