Credit Health Improvement

A credit score is one of the factors that impact how easily and affordably you can get credit. A low or a poor credit score may be one of the reasons why your credit score application gets declined.

A credit score is a three-digit number that ranges from 300 to 900. It depicts the summary of your credit history and your creditworthiness. A good credit score is nearer to 900.

Are you a credit healthy person? sticking to good financial practices will make you a credit-healthy person. It also aids you to build your credit score and hold a starry credit profile.

In today’s fast-paced world, credit is a necessity for most and the saying ‘to get credit, you must have credit’ is apt but often frustrating for new borrowers. Building credit from the start can be challenging since credit history is a prerequisite for building a credit score

Loan settlement is often mistaken as loan closure. But they are not the same. Loan closure is when you pay off all your EMIs on time and complete repayments as scheduled. In this case, the lender closes your loan account on payment of the final EMI and issues a NOC (No Objection Certificate).

Finding an account classified as collection on your credit report can feel intimidating. Having a collection account not only impacts your credit score but leaves behind a negative mark on your credit report

Rahul is an IT employee with a promising career. He is credit-savvy, uses his credit card regularly, and has paid off a two-wheeler loan and a consumer durable loan. He even takes personal loans to purchase the latest smartphone or go on an expensive holiday with his friends.

Whenever you come across a bonus or any other lump sum payout, there comes the sweet dilemma. ‘Do I save it or pay off some debt?’. Both options are important and require some consideration before making a decision.

A Credit Score is a 3 digit number, derived from a person’s credit history. This number represents the creditworthiness of the person and is calculated based on information collected by credit bureaus from lending institutions. There are primarily 4 credit bureaus in India who are associated with different lending institutions. The credit score in India is marked between 300 – 900. Generally, a score of 700 – 750 is considered good.

A home is one of the costliest assets that an individual owns during his/ her lifetime. Given the rate at which real estate prices have increased in the recent past, it is no more possible for commoners to purchase a home out of their own funds. Hence the need for a home loan.

Good credit can make many of your life's financial situations easier and pocket-friendly. For example, with good credit, you can get approved for a mortgage or auto loan, and possibly qualify for the best available interest rates and terms. A good credit score can also affect how much you pay for insurance, and whether a utility company asks for little or no deposit before starting a service for you.

Credit is essential to aid many activities in life, as savings might not be enough to meet each and every need. Through credit, you can not only buy bigger assets like a home or vehicle but easily pay in installments without hurting your day to day finances.

The knowledge of credit score is quite common nowadays. There is a lot of awareness and interest among the individuals to know and build their credit scores. Everyone looks to have the perfect credit score that can make credit easily available as and when required.  Having easy access to credit can help you own assets like house, vehicles, fund your entrepreneurial ambitions or sail through periods of emergency.

We study history to understand and learn from our past so that we can improve our future. Similarly, credit history has a bearing on our present and future. All our actions in the past concerning our credit behavior are recorded and presented as a three-digit number ranging between 300-900. This is the credit score.  We are aware that higher the number, better the credit score is.

There is no short-cut to gaining a good health. It requires time and meticulous effort to achieve it. The similar strategy applies when it comes to your credit health.

5 Commandments for Reaching Financial FreedomFinancial freedom is a phrase that attracts different connotations. To some financial freedom means getting out of debt, while to others it would mean saving enough money for the future. No matter who you are or what financial freedom means to you, it needs a lot of focus and intent from you. This article is for people who want to stay out of debt or who want to start saving for their future.Commandment 1: Plan

How to Get a Mortgage with Bad CreditA mortgage loan is given against the mortgage of a residential or commercial property. If you own land or property, then you could mortgage it with the lender to raise funds. The property's market value is assessed and the loan is given as a certain percentage of the property's current market value. This could range anywhere from 40% to 60% the current market value.This product is a secured loan since the loan is secured against your p

Are you nervous about being a first-time home buyer? Moreover, are you planning to apply for a home loan but are worried about your credit record? A home loan is a significant financial commitment on the part of the customer and a significant long -term investment by the lender. Having bad credit is a big barrier in the way of being approved for a loan and it is wise to take steps to improve your credit record right away.Is it possible for a first-time buyer to get a loan wit

The beginning of the year always seems a good time to start good new habits afresh. We usually focus our new intentions on our physical and mental health – but what about our financial health? You don’t have to wait for the next January 1st to make a resolution to pay attention to your financial health and create financial goals for yourself. It is never too late to take stock of your personal finances, take steps to improve your financial health, and remove the stress

You do not have to wait for January 1st to make resolutions to improve your finances! Any time of the year is a good time to start taking concrete steps to organize your personal finances.  The state of our finances is one of the biggest contributors to stress, and you can start to remove some of that constant anxiety by following the practical tips below. Simple ways to improve your finances 1. Write down your financial problems and goals. Writing them

A credit score is an indicator of your creditworthiness. It is issued in a range of 300-900 with a higher number indicating a higher grade of creditworthiness.