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Welcome to the #CKCashdhamaka offer! Get on your phones and laptops right now! Get the app or log on to www.Creditkaro.com and apply for a Credit card and win a voucher worth INR 500 after getting approved! 

Terms & Conditions :-

Offers are valid for the following cards-

1. Citibank credit cards

2. Axis bank credit cards

All the winners will get the voucher on email only after getting approval on the credit card. The vouchers will be issued to customers who have applied before 1st of January Hurry! Offer valid till 1st Jan!

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Wanna know more about Citibank credit cards? Check annual fee,features, joining perks and much more! Click on the link above-

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HOW DOES CREDIT CARD EFFECT YOUR CREDIT SCORE?

Have you ever thought how important your credit card is for your credit health when you check credit score online? A life without your credit card can be financially exhausting, which is why it is very important to understand the impact of credit cards in our credit report. You can spend months scrolling through the best credit cards online, but have you really given it a thought that your credit card does a lot you maintain a healthy credit report.

Credit score is a three-digit number between 300 and 900 which defines your financial health. Your financial health is of utmost importance because lenders investigate your credit report to see if you can be trusted with the money, they are going to lend you. Anything above 750 is a good credit score and anything less than 600 is considered to be poor. If you want to check free credit score online, click here.

In order to have a credit score it is very important that you use your existing credit cards on a regular basis and pay back the amount on time. This practice improves your credit score and assures the lender that you are responsible with money and that you have the capability to return it on time. So, today we will discuss how your credit card plays an important role in your credit report.

Credit card’s utility:

Your credit card’s usage matters more than you think. Using your credit card effectively helps in increasing your credit score. If you do not use the card in your wallet, you will not have a credit score. Let the banks/lenders know that you use a credit card and you have been paying all your dues on time. Once the lenders know that that you have a solid credit history, they will be more than willing to lend you money.

Credit Mix:

It is very important to have a diverse portfolio of various credit accounts. This is a very important aspect for all credit rating agencies. The Banks/lenders take into consideration all the accounts mentioned in your portfolio. If you do not use or have a credit card, lenders will think you do not have enough experience in handling credit. Therefore, they might feel skeptical before lending you higher amounts.

Credit History:

The longevity of your credit history is an essential factor to take in consideration. If you have older credit accounts, you might come across as more reliable to all the banks and lenders. Lenders will get an assurance looking at your credit history because you have borrowed money in the past and paid back successfully in the stipulated time.

Payment history:

One of the most important factors is also your payment history. Lenders need to know that you have a legitimate payment history. They need to know that you borrow and pay on a regular basis so that they can trust you with their money. Using or having a credit card in your wallet ensures that you take credit on a regular basis, this creates a payment history.

New card application:

It is much easier to get a credit card if you already have one. If you already have a credit card, banks can easily access your credit history to find out if you are responsible borrower. Whereas, if you have never ever applied for credit card, you might still get approved but for a significantly lower credit limit. Having an existing credit card helps your chances of negotiation for a higher credit limit.

 Having a credit card can actually be fun, you can earn cashbacks, reward points, offers and discounts while you are building a good credit report because a good credit report defines your financial health and your financial health says a lot about you.

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