Does closing a credit card affect your credit score? Yes, it does depend on how you use the credit limit, the outstanding balance, the number of credit accounts, their lengths, and other factors. But...
A credit card helps you tackle unexpected expenses. You can use a credit card for transactions for which you do not have finances in hand. On the credit card balance, you pay certain fees...
Credit Card statements reveal information of your purchases, outstanding dues, charged interest, credit limit used/left, and so on. You will receive the statement every month. But for how long should you maintain these records?...
If you return a product or service purchased on a credit card, you will usually lose the points earned on the purchase. You may get the money back as a refund. But the number...
For the image source, click here The reason for returning a purchase on a credit card can be any. But, do you know what happens to the refund amount thereafter? Who issues the credit...
The credit utilization ratio is used by credit reporting organizations for calculating a borrower’s credit score. It is the percentage of your total available credit you can use at a given point in time....
One of the biggest benefits of having a credit card is – buying now and paying later. And the banks and finance companies let their customers enjoy an interest-free period to repay the amount. However,...
With the rising economic process, a lot of credit bureaus have been established in the country. RBI receives applications for the same quite frequently. The microfinance industry, since caters to the underprivileged, has a...
One of the primary reasons why financial institutions across the globe have been facing losses is the bad loans leading to defaults. The credit provided to the customers has a huge amount of risks...
A Billing Cycle/Billing Period is the duration in which charges against a recurring service/s you use, are accounted for and recorded. These charges reflect in a billing statement. You will receive the same at...
