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Because a Home Loan fundamentally is a debt/liability and once you take it, you give banks a ""Standing Instructions"" to debit a certain amount (your EMI) monthly on a specific date. Also, on the date of EMI payment, these Standing Instructions are issued only on your Savings or Current account & not on your credit cards

EMI basically is repayment of the loan amount, in parts on monthly basis. The loan amount, whatever the type of loan, is paid back through a series of monthly payments. The payment for each month is done by issuing post-dated cheques drawn in favor of bank or the lender, or through standing intrsuctions set up. EMI’s are to be paid until the complete amount due is paid up. Also, as the amount of loan taken increases, the EMI amount also increases. If the tenor of the loan is extended then the EMI amount is reduced. It doesn’t mean you will have to payback less amount but rather the monthly amount that you have to pay decreases but the number of months of repayment increases.

One of the most distinct benefits of credit cards is the ability to convert payments into EMIs so that you don't have to deal with the financial impact of a large purchase.  We may plan to make some big purchases during a month but our income may not be sufficient to repay it in whole in the next billing cycle. This is when EMIs come in handy. EMIs allow you to spread your big purchases into smaller payments on equal monthly instalments. 

On the off chance that you take a loan of let’s say INR 1 lac and the bank includes a mandatory protection of 10K INR and handling charge of 2.5K INR, then your APR will be ascertained as the premium paid on 1.125 lac INR and not 1 lac INR. This figure is not typically promoted but rather needs to be looked at when you take a loan. If the credit is for 12%, yet APR is 17%, then the hidden costs add to 5% yearly! Only mandatory charges are added in evaluating APR.

By this plan, you would pay the EMI towards the start of the month. Let us say you take a loan of INR 1 lac for an auto and your EMI is 10K for 10 months. By the ordinary EMI plan (additionally called EMI in arrears) 1 lac will be given to the auto merchant and EMI of 10K will begin from the end of the first month

Home loan is a huge credit responsibility which of course demands a higher discipline for repayment till the completion of the entire tenure. Banks too take precautions before giving out big-ticket loans. Hence the borrowers will have to pass through the eligibility check to secure the home loan of their choice.

The CIBIL™ score is the most widely used measure while evaluating new credit applications. Most of the banks in India & other creditors first review your credit score and credit reports whenever you apply for any loan or a credit card. Your CIBIL™ Score or credit score helps in evaluating your credit worthiness which in turn will lead to the rejection or acceptance of your loan application. Off late people have become much more aware of as to what their credit score is and have started working towards improving it.

It is more like a first step that needs to be cleared before getting any loans. You income matters but not so much as your CIBIL™ score does. For e.g., a person who has an annual income of INR 5 lakhs and also has an excellent CIBIL™ report has a greater probability of getting a loan as compared to a person having an annual income of INR 20 lakhs with a very poor CIBIL™ score or even an average score/report . If a person has faced problems in the past such as if he/she might has gone for settlement of loans (ie. paying less than what they owe), irregularity in paying EMI's etc. , then that person will probably have a really difficult time when applying and getting any loans in future.

1) you shall use the cards regularly AND 2) always make the payments on time for all the accounts. Credit score is calculated using data from the following five records: * Payment history * Amounts owed * Length of credit history * New credit * Types of credit used Every new credit card will be associated with a credit enquiry, which will have a very small, temporary negative effect on your credit score. How you use additional new lines of credit will have a long range of effect on your credit score, from positive to negative. The effect will be beneficial or positive if 1) you always pay on time and 2) if you keep your debt to credit ratio in a healthy range. The higher a person’s debt to credit ratio, the lower will be that person’s credit score. For example: Person A has five credit cards and Person B has one. Even though Person A carries greater total debt ($7800) than does Person B ($2700), Person B’s debt to credit ratio is very high, at 90%, and their credit score is likely to be affected negatively.

If your credit utilization ratio is very high i.e. above 50%, then you should either request for a credit limit increase or rather get a new credit card to increase your total available credit. If any of the above is not possible at this time for some reason, then just lower down your monthly purchases until it is possible. There is no point in keeping a credit card and not using it. Using your credit card rationally, which will include actions like keeping an eye on your credit utilization ratio, and that will eventually lead you to the point when you don’t really have think about it anymore.

because the banks do not pull your credit report for sending the replacement card. The new card that you will receive will be identical in every way to the old card except for the number, so that it doesn’t impact your credit limit or outstanding balance. As far as unauthorized usage is concerned, they will also not impact your score if you have reported about your card immediately and asked the bank or company to block that card from your account. If you fail to get those cards blocked from your account and you don't pay the charges off in time, then that will have a negative impact on your credit score.

It is also dependent on how much time you took to settle off the account after being marked as non-performing. If you currently do have active loans that you are servicing, and if you do not miss any payments, then it will probably take 8-12 months for your credit score to be back up to a decent level. If you possess a credit card, then you should also use it very wisely and make full payments on time. Never use more than 50% of your credit limit until it is absolutely necessary. If you currently do not have a credit card, then you should get a secured credit card against a fixed deposit and use it wisely. This will help you in getting get your score back up a little faster.

Therefore, if you are working for a well-known organization, then there is a good chances for you to get a credit card. The process of issuing a credit card varies from one bank to another. Most banks allow their customers to apply online via their banking website. You then need to fill a form that will ask you for your details. After completing that you will receive a call from bank within a couple of days for verification, and once completed, they will send you or ask you to collect your credit card from a bank branch.

Any loan rejection will impact your credit worthiness when you apply for a fresh loan, though it might not lower your credit score.

Multiple credit card applications in a short span of time is going to hurt your score, but it is not the function of number of cards you hold now.

There are a lot of benefits in a credit card loan, as they are much more secure and meant for customer comfort, but the drawback with them is that they have high interest rates that are way more as compared to a personal loan. In case of personal loans, the interest rate is lower but they are not really secured and it could take longer to obtain one. Therefore, it depends a lot on a person’s credit or specific individual needs on which one to pick.

All personal loans will be at a Fixed rate, and therefore, prepayment charges may apply. You will have to check with your lender.

1. Personal loan 2. EMI facility on credit card: If the amount of expenses that you are planning to incur can be done through a credit card, then do the transaction from your credit card and convert that transaction payment into EMI’s. They could work out to be cheaper than the personal loan charges. 3. Loan on card: If the amount of expenses that you are planning to do cannot be done through credit card, then you should ask the bank whether you are eligible for a loan on card. The benefit of loan on card is speed, hassle free and charges may be at par with personal loan. 4. Revolve on credit card: Do the transaction on credit card and eventually pay down the amount by revolving. Not recommended on account of high interest rate.

A 720 in Experian's ScoreX Plus is not the same as a 720 in Trans's CIBIL™ Score which is different than Equifax's Score. There is a mandate by the RBI to gain convergence in the reporting by the main credit bureaus. Also, every lender also uses their own scoring system that includes many other variables that are not part of your credit report - such as your income, your employer, your place of residence, etc.. So, when comparing different scores compare the range you fall in and don't stress that the numbers don't line up exactly.

Pay your bills on time and pay off any prior dues that you have.