In these times of
stiff competition among different lenders, it is observed that there has always
been an effort made by each of them to make a difference. An interest rate
differential is one such example we could use. This factor surely plays an
important role in your Equated Monthly Instalments (EMI) payments and your
choice of lender.
As there is a
difference in the interest rates offered by different lenders, an existing
borrower is lured to shift to a lender who quotes a lower interest rate…
Race, religion,
gender, nationality, marital status and employment history do not impact credit
scores. It is because these factors do
not help in assessing the credit worthiness of an individual. In several
countries it is not legal to use these factors to calculate credit scores.
Another much debated factor
is “income”. Yes, income does not
impact your “credit score” but it could impact your “credit worthiness”. Whilst
the bank would be interested in knowing your income in your loan application
form, it is not included in the credit…
In today’s age and time everyone holds a credit card; well almost
everyone! Whilst it is a convenient option for many of us….strangely it is also
a “cool” option for few! Flaunting a wallet with different credit cards in a
party or at a shopping mall is definitely looked upon as “cool”.
But how many credit cards should
you hold? How many credit cards make you “cool”?
“One size fits all” solution does
not work here. So a working professional can hold 2 cards and…