Want Car Loan ? Have Good Credit Score – Bankers Relying on CIBIL Report

Car Loans - CIBIL Inquiry IndiaAuto Loans in India are on rise in the past 3 years and the demand is especially coming from smaller cities. After the 2008 Crisis, Banks have tightened their lending norms towards unsecured loans – Credit Cards & Personal Loans and even for Auto Loans they are increasingly relying on Credit Reports ans Scores from all the Three bureaus – CIBIL-Transunion, Experian and Equifax.

Approximately 20% of the inquiries in the last few years have been for new Auto Loans at CIBIL. Delhi NCR alone contributes 35% of the Inquiries in

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How To Convert Kotak Credit Card Puchases into EMI ?

Kotak Cards Conversion to EMIHave you recently Bought an Expensive Home Furnishing Item like a Leather Sofa Set or an Internet Smart TV on your Kotak Credit Card and worried to Pay the Bill ? Following into the footsteps of Market Leader in Credit Cards, HDFC, everybody is offering an option to convert High Value Purchases into EMI. Here is a Step-By-Step Guide on How to Convert your Kotak Credit Card Purchases into EMIs, the cost of servicing the EMI without negatively impacting your CIBIL Credit Report and Score.

What are the Terms & Conditions for Converting Purchases into EMI on Kotak Cards ?

Citicard – Payment Defaulted, Account Blocked, then Regularized – Impact on CIBIL Score

Default Payment on Citicard - Later RegularisedIt is not uncommon for the Indian Youth to opt for a Credit Card as soon as they join the workforce and without realizing the consequences they head towards debt trap. Here is a Case which CardBhai’s Team Counseled and with Prior Written Permission of the Client we are publishing his Case Study so that this will help other Credit Card Borrowers / Defaulters understand the impact on Credit Scores.

Raj had a Citibank Credit Card account opened in May-2006. He made regular payments until Oct-2006 and then began to delay which immediately starts getting reflected in his CIBIL Credit Report. He tried his best to regularize his payments but on and off and was negotiating with the bank’s call center executives already for EMIs etc. However, matter became worse and in Aug-07 and Citibank finally decided to BLOCK the Card A/C. Summary of his First leg of Transactions and Payments as reflected in CIBIL Credit Report is Shown below.

Read moreCiticard – Payment Defaulted, Account Blocked, then Regularized – Impact on CIBIL Score