Making premature withdrawals not only depletes your funds but also raises your tax liability
Notably, if you fail to repay the monthly installments of no-cost EMIs on time, your credit score gets impacted adversely.
There is a process one needs to follow and must also account for the consequences of closing a card.
Having a single card with a higher credit limit also boosts their chances of obtaining a favourable credit score
The RBI has mandated banks to offer a three day grace period for customers to pay outstanding total due amount mentioned in the statement.
Four big private lenders, largest public sector bank and two NBFCs are currently offering these credit cards to their customers.
Secured credit cards can be a great substitute/alternative for those who are unable to get regular credit cards due to non-compliance of rules.
While lenders tend to give a gold loan up to 75% of the total metal value, it can inch as high as 80-85% in case of falling prices.
While some lending apps require personal information to conduct underwriting and authenticity checks, many small lenders levy an application fees too.
The breadwinner's income is the family's sole source of revenue, as the whole budget is built around it