What is a Credit Score?

A credit score is a three-digit numeric expression for your credit history. A credit score is primarily based on a credit report, information typically sourced from credit bureaus. In India there are 4 credit information companies licensed to operate namely CIBIL, Experian, Equifax, CRIF High Mark. The most popular of all is CIBIL credit score. This score ranges from 300 to 900, with 900 being the best score. Individuals with no credit history will have a score of -1. If the credit history is less than six months, the score will be 0.

Whether you are planning to renovate your house, or buy a new car, or paying for your education or dealing with any emergencies personal loan comes in very handy. There are many lenders that would lend you money, it has become quite easy and simple, thanks to the internet. But there are few rules which you should always consider before getting a money loan.

An Introduction to credit card

A credit card comes in the form of plastic card which lets you access your credit limit through an ATM machine. A credit limit is assigned to you by your bank as per your spending capacity. A credit limit is like a loan. However instead of giving you the whole loan in one go, banks allows you to use your limit as per your need.

It happens with mostly all of us that we miss some important dates in day to day life. Similarly if you find out that your credit card bill due date was 1st of the month and it is already 3rd. Or you just checked that a late fee has been assessed in your credit card statement for a payment that you made late. This usually happen with many of us. So, if we act quickly then this damage can be controlled.

Retirement planning is a sensible and essential step that every working professional must take upon to retire wealthy. It's true that by the age of 60, you will most likely accomplish all your financial goals and thus will have fewer liabilities but that doesn't mean your need for financial security will minimise once you grow old. Post-retirement, most likely, you won't have a regular source of income, your medical needs will increase, inflation will make things much costlier, you will feel an increased need of domestic help, convenience help, etc.

On the whole, the approval rate of credit cards is less than 50%. Credit card approval depends on certain factors like your credit score which is the most important factor, then your annual income and also the city in which you are living.

It happens with mostly all of us that we miss some important dates in day to day life. Similarly, if you find out that your credit card bill due date was 1st of the month and it is already 3rd. Or you just checked that a late fee has been assessed in your credit card statement for a payment that you made late. This usually happens with many of us. So, if we act quickly then this damage can be controlled.

At the onset of a financial year, with a lot of enthusiasm, we all hear out the Budget, especially the personal finance section, announced by the finance minister. The budget of FY 2018-2019 has incorporated some new areas that can help you to save tax. As tax-saving time is here, so it is right for you to quickly know about the newly introduced improvements or sections where you can save tax. 

As the popular adage goes “Health is Wealth”. To protect this wealth, it is important to start investing in it at an early age. Medical emergencies tend to come unannounced, and the chances of one happening have only risen in the last few decades. The medical advances mean that you are far more likely to survive an emergency, but that does not mean it will not leave you burdened with debt – if you are not prepared for it. The best way to prepare for a medical emergency is health insurance.

The best time to invest in an asset is when it is bound to grow with time, and not when it is shrinking in value. Therefore, the best time to purchase health insurance for you was yesterday. You should invest in your health while you are still young and healthy. Remember the return on investment in health insurance will be seen over your entire life and not just the first year you get the cover for. Here are 10 reasons to convince you to buy insurance right away: