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Parakram Gupta

Parakram Gupta

Asked on 18 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.

Pranav Khan

Pranav Khan

Asked on 18 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.

Sai Khan

Sai Khan

Asked on 18 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.

Vishal Rathore

Vishal Rathore

Asked on 18 March, 2019

What points should I consider before taking credit card?

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Here are some factors to consider or things to analyze before taking credit cards: Analyze your shopping habits to find a suitable credit card. Know about the interest rate charged on the credit card. Which type of credit card is better for your - secured or unsecured. Credit limit offered to you by the bank. Calculation method for minimum amount for credit card transactions.