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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.

1) Pay your bills on time and pay off any prior dues that you have. 2) Ensure that there are no negative status reporting from old loans that you have, and that all previously closed loans are reported appropriately. 3) Ensure optimum credit utlization of your credit cards - do not over-spend or not use your credit cards at all. 4) Have good mix of both secured (home loan, vehicle loan, etc.) and unsecured (credit card, personal loan, etc.) credit exposure. 5) If you have an excess of cards and you need to close some, close the newer cards as compared to the old ones. Keeping older credit cards signifies that you have managed credit for a longer period of time and tends to have a more positive influence on your credit worthiness. 6) Try not to change your employer or place of residence often."

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