Forum

A credit card allows the user to make purchases and pay for them later. On the other hand, a debit card is already loaded with money, the amount of your savings or current account. Both are useful tools in making payment for various purposes.

To purchase a land, one requires a huge amount. It can also be bought on a loan, but when it comes to investment, paying interest on the loan will nullify the profit. Moreover, the location of the land is an important factor which determines the land value in the future. A land is an appreciating asset, hence investing in a land will be hugely profitable in the long run.

Your CIBIL™ Rating is influenced by a lot of factors. Credit cards give you revolving credit which forms an important part of your credit report.  Cancelling your credit card can impact your credit score. So, you need to be aware of all the impacts due to the cancellation.

Almost all banks provide personal loans which is an unsecured loan as there is no collateral required to be submitted to the lender. With multiple lenders available which includes private and public-sector banks the best bank for a personal loan is one which provides you the best loan offer.

You can switch from regular plan to direct plan easily which will reduce your annual expenses. Because, by choosing the direct plan, you are managing your SIP plan on your own, instead of being managed by the distributor. This will reduce the expenses and hence the return will be slightly higher when compared to the regular schemes.

Yes, it is absolutely safe to check your credit score online.  Credit Bureaus generate your credit score and credit information report. In India, there are four authorized credit bureaus: CIBIL™, Equifax, CRIF High Mark, and Experian. A person is entitled to one free credit report every year.

Yes, it is indeed good to have a credit card if you judiciously use it. Following benefits will help you understand why you should have a credit card.

A Public Provident Fund (PPF) is a long-term investment instrument that is risk-free in nature. The maturity period of the account is 15 years and one cannot withdraw any amount until 7 years. PPF scheme is a good avenue for claiming tax deduction for up to INR 1.5 Lakhs under section 80C.

Credit card is a wonderful tool especially when you use it in the right way. It indeed can help you build wealth in the long run and we will tell you how. Cashback is a good option that most of the credit card provides. You can definitely save some money on every cashback you get on a purchase.

Generally, if you are a salaried employee, getting a credit card would be easier if you have pay slip for the last three months. Banks prefer customers from reputed companies because it makes KYC easier for them and they offer a lifetime free credit card along with opening a salary account and it easier for you even if you do not have a credit score or pay slip.

To decide between credit card loans and personal loans, it all depends on your urgency and requirement. In the category of loans both are unsecured loans and have certain advantages and disadvantages.

Yes, a student can apply for a personal loan, but approval matters the most. In that case, approval on a personal loan requires certain eligibility criteria. Repaying ability is the top most criterion that look in a borrower. Hence, mostly, the salaried and self-employed individuals have higher chances of getting a personal loan from banks and NBFCs.

You may be notified by the lenders for the first three months about the defaults. If you are going through an economic crisis, the lender may ask you to settle the loan for the amount lower than borrowed. The lender may also push for legal proceedings which you will have to deal at the court.

As the personal loan does not require any collateral from the borrower, banks and NBFCs want the applicant to be completely eligible for the loan in terms of repaying ability till the end. They want to be assured that you are a worthy and reliable customer.

Personal loan is an unsecured loan. Hence, the interest rate on the loan is invariably higher than the other loans. Coming to your question, the cheapest personal loan cannot be determined by the lender rather a lot depends on the individual’s credit profile.

You can call up the credit card customer care number toll-free number 1800 266 4332 and request the executive to give information about your credit card balance.

It is easy and simple to check your HDFC credit card balance. Following are the ways to check your HDFC bank credit card balance

It is actually not advisable to pay one credit card bill using another credit card. There is no direct way to pay one credit card bill with another credit card. However, if you wish to use one credit card to pay another credit card's payment, you can do it indirectly.

Your phone number is an important detail that has to be up-to-date on your bank records. Because, you receive all your alerts and OTPs on your mobile phone and if you don’t have the correct one on the records, there are chances for fraud or misuse of your credit card. 

There are numerous instances reported where the money has been debited from the bank account and unable to track the criminals who have stolen. The only way to claim the amount lost could be file a FIR with the police and approach the bank for refund. The refund can be claimed only if it is reported within a stipulated period.

Every self-employed individuals, including a CA, is eligible for a personal loan provided the individual meets the eligibility criteria put forth by the bank. Hence, it is important to know what the lenders look at in a personal loan applicant.