You own a credit card and use the card judiciously. You are aware of the benefits and flexibility that a credit card offers. You want that your home-maker spouse and your college going kids should also enjoy such flexibility. However, it is not easy to get a credit card unless you are earning. How do… Continue Reading
That’s a question many of us grapple with. Do we own too many credit cards? Should we cancel some of the cards? If yes, which cards to cancel? What about the discounts or cashbacks you might miss out on? Or should we just keep the cards even if we don’t use them? What are potential… Continue Reading
Use a credit card to help you with your budgeting. Well, this does not look like the best idea in the world and for a reason. We usually associate credit card with extravagance and splurging. How can such a product be part of the budgeting solution? It can be, if used the right way. Why?… Continue Reading
CRED, a fintech player that simplifies credit card bill payments, has launched a product CRED Mint, where CRED members can earn up to 9% per annum. This is how it works. You invest your money in Cred Mint. The product is powered by LiquiLoans, a P2P-NBFC player regulated by the Reserve bank of India. Your… Continue Reading
It is not easy to get a home loan after you have retired. The obvious reason is uncertainty about borrower income. However, there are many retirees who get regular pension. There is no income uncertainty about their income. Is there a home loan product targeted at such investors? Yes, LIC Housing Finance has Griha Varishtha Home… Continue Reading
“I have never borrowed in my life. Hence, my credit score must be perfect. And the banks would line up to lend to me.” Quite the contrary. Firstly, no borrowing means no credit history. In absence of credit history, the banks will be in dark about your credit behaviour. They may not be comfortable lending… Continue Reading
It is a new year. And A new year brings new resolutions. Let us look at some of the credit resolutions for 2021 you can consider. # 1 Reduce Debt This applies to those who are currently struggling with credit burden. There are only two ways to reduce credit burden. Reduce the quantum of debt (Possible… Continue Reading
All the banks linked the new retail floating rate loans to an external benchmark from October 1, 2019. In my opinion, that makes the comparison between various home loan products easier. Most of the banks have chosen Repo rate for the external benchmark for home loans. Earlier, benchmark MCLR (Marginal cost of funds-based lending rate)… Continue Reading
You have applied for a home loan but you are worried that you may not get the requisite amount. In an earlier post, I had discussed aspects that the banks consider while calculating your loan eligibility. In this post, let’s use the findings of the aforesaid post and see how you can increase your loan… Continue Reading
You have been struggling to make your credit card or loan repayments for a few months now. Bank officials and recovery agents have been breathing down your neck to make these payments. You have explored all potential options, but nothing has materialized. You have grown tired of all this. You decide to approach your bank… Continue Reading