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Chirag Chopra

Chirag Chopra

Asked on 2 March, 2019

Is it possible to save money using credit card?

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Yes, if used wisely, credit cards can help you save money and earn rewards. Here's how: Avail discounts, deals, and cashback offers to save money using credit cards. Save on fuel purchases through fuel surcharge waivers or reward points. Avail travel offers, restaurant deals, and free movie tickets. Earn reward points for transactions and redeem them. Avail No-cost EMI and flexible EMI offers.

Reyansh Chavan

Reyansh Chavan

Asked on 2 March, 2019

Why is high usage of credit limit bad?

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High usage of credit card limit results in high credit utilization ratio, which is bad for the cardholder's credit score. Credit utilization ratio is the percentage of the total available credit currently being used. Credit reporting agencies use this ratio while calculating an individual's credit score. Higher credit utilization ratio indicates the borrower's credit hungry behavior, which impacts the credit score.

Parakram Sharma

Parakram Sharma

Asked on 2 March, 2019

Do Indian banks offer credit cards to someone with no income?

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In India, some banks issue credit cards to individuals with zero income against fixed deposits and strong savings accounts. Some options include: Axis Bank Insta Easy Credit Card, SBI Card Unnati, ICICI Bank Instant Platinum Credit Card, and Kotak Mahindra Bank's Aqua Gold Credit Card.

Rakesh Bose

Rakesh Bose

Asked on 2 March, 2019

What are some credit card mistakes to avoid?

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If not used wisely, credit cards can be a huge burden. Here are some mistakes to avoid: Having too many credit cards; they increase expenditure. Paying only minimum due amount instead of focusing on clearing the outstanding balance. Defaulting on bill payment and high credit utilization. Withdrawing cash using credit card; it attracts very high interest. Ignoring monthly statement and blindly pay the bill.

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