5 Tips that Can Help You Raise Your Credit Score

A recent study involving around 1500 individuals showed that more than 60% of the respondents know that a good credit score increases the chances of getting loan approval. However, only 15% of the participants knew their credit rating. Studies also suggest almost 85% of the Indian population carries a credit score of less than 800. A credit score is a three-digit number which helps determine your creditworthiness. It ranges from 300-900, and a score of 750 or higher is considered better. Credit information companies like TransUnion CIBIL calculate the rank…

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Investment tips to minimise losses during a stock market crash

Making money during an economic slump requires discipline, cost control and doing what’s right given the situation at that very moment. This means that you may not be able to predict market behaviour, but you must have the best investment plan in place if the market crashes. If you are a long-term investor, it is important to remember that a downtime is part of the cycle and emotions should not cloud your financial decisions. The best investment plan will not only help you cut your losses but help you increase…

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What are the Credit Score Requirements for Credit Card Approval?

There are 4 credit bureaus in India but the credit score provided by Credit Information Bureau (India) Limited or CIBIL is the one considered by more than 2,400 financial institutions. The credit or CIBIL score they provide is based on the Credit Information Report (CIR). The CIR contains personal information, credit utilisation, numbers of enquiries, credit mix, and several other details of a creditor as forwarded by a lender. The CIBIL score ranges from 300 to 900 and is dependent on how sound the CIR is. Generally, a score above…

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