The FinTech Hub
Source: Live Mint In India, there is a strong belief that avoiding debt is the best way to stand out and stay away from financial problems. Such a practice also keeps an individual financially healthy. Given this can work for personal budget planning, still it can backfire when it comes to your credit score and…
Source: Live Mint It is not uncommon for some people to have zero credit history. This usually happens with the students and young professionals who do not have a history of using a credit card. Here, we delineate key differences between having low credit score and no credit score. A ‘no credit history’ typically happens…
Source: Live Mint A personal loan provides help in dealing with serious life challenges such as medical emergencies, surgeries, education, home renovation etc. That is why it is clear that in difficult times, it is only such personal loans that defend a borrower by providing him with a platform to deal with immediate financial challenges….
Source: Live Mint A credit score of 550 is generally considered poor in India. Such a score significantly impacts an individual’s access to credit instruments such as credit cards, personal loans etc. That is why clearly understanding the implications, pros and cons associated with this score and taking proper steps to improve the same are…
Source: Live Mint If you are looking for a loan in the near future, it is vital to have a strong credit score. Generally, a credit score above the level of 700 is believed to be good, which not only helps you secure a loan but also get it at a lower rate of interest. Therefore, a…
Source: Live Mint It could be frustrating to have a low credit score without ever taking a loan, but there are multiple reasons for this to happen, particularly if you are new to credit or have not actively used credit products. Here’s why your score might be low: Reasons for a low credit score without any…
Source: Live Mint Getting a credit card primarily requires a good credit score for issuers to approve credit card applications. A credit score signifies the creditworthiness of a credit card user; hence, it becomes an essential factor for issuers to determine your ability to repay credit card dues. There is a chance of rejection of…
Source: Live Mint A poor credit score may hinder your ability to obtain a credit card. Usually, a credit score lower than 600 is considered a poor credit score. A poor credit score mostly results from high credit use and missed payments. However, low-interest credit cards typically have interest rates lower than those of most…
