The credit card lifecycle has different phases. One of the important components to take into consideration as a user is the billing cycle. Every credit card comes with a billing cycle – some for 30 days, others for 28 days – depending on the issuer offering the credit card. Understanding this is crucial, as failing …
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A credit score is one of the most reliable financial indicators that can assess an individual’s creditworthiness. The Equifax ePORT portal helps lenders, like NBFCs and banks, access any individual’s credit data. It also provides borrowers’ credit histories. It is an online one-stop portal with vast access to individual credit data. This portal contributes to …
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Paytm Postpaid is an easy option to get instant access to credit. It provides you the convenience of buying now and paying later when paying bills, financing travel expenses, grocery shopping and more. This facility works like a credit card and gives you up to ₹60,000. It is important to note that it can impact …
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You can access your CRIF High Mark free credit report to ensure details of your credit history are accurate. This assures smooth access to credit cards and other forms of credit. Inaccuracies and errors in your credit report can hinder this process. These include: It is best practice to check your credit report occasionally to …
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An ECN in a CIBIL report is a key component that helps lenders track your credit history before extending an offer. Since your credit card and loan offers depend on many eligibility parameters, the first thing banks and NBFCs check is your credit report. This gives them accurate information about your behaviour towards credit repayment. …
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To calculate the CIBIL score, TransUnion CIBIL assesses many factors that have a direct impact on credit health. This score is also a reflection of your ability to handle the borrowed amount and repay it on time. As such, financial institutions give it a lot of importance and weightage when assessing your applications. Knowing how …
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Credit card and loan inquiries happen when a bank, NBFC or any lender checks your credit report with TransUnion CIBIL before offering you credit. These checks help lenders understand your repayment behaviour, past loans and overall credit history. You can even check your own score from time to time. But many people worry about does …
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CIBIL score 1 means you don’t yet have a credit history. This can show up as ‘-1’ or ‘NH’ (no history) on your CIBIL report. It simply means you haven’t taken any loans or used a credit card yet. There’s nothing wrong with it. It just means you’re starting fresh. Many new borrowers have a …
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What is credit control and why does it matter when you apply for a loan? Simply put, credit control meaning refers to how lenders decide who gets credit, how much and on what terms. It helps banks and NBFCs avoid lending to risky applicants. If your credit score is low or you’ve missed EMIs, you …
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India has 4 RBI-approved credit bureaus in India that track how you use and repay credit. These bureaus are TransUnion CIBIL, Experian, Equifax and CRIF High Mark. Among them, CIBIL is the most commonly used, especially when lenders assess individual borrowers. These credit information companies collect repayment details from banks, NBFCs and other lenders. Lenders …
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