India Credit Cards Review, Advise & Market Research
CIBIL is probably one of the less-appreciated success stories of India’s financial sector evolution. It is today, probably the back-bone of the relatively high-quality and disciplined retail credit build out in India.
CIBIL has over 350 Mn accounts and adding 4 million new accounts every month – of which 30% are new accounts. Almost all key financial sector participants are contributing and using data from CIBIL. It gained momentum and customer acceptance
What According to CIBIL is the meaning of “Credit Hungry Consumers” ?
India’s leading credit bureau, CIBIL which manages your credit history and credit score along with global leader Transunion has devised a word – Credit Hungry Behavior for Consumers who makes frequent loan applications [Personal Loan, Auto Loan, Credit Card, etc], as there will be a Credit Inquiry every time an application is made. This sends a negative signal for money lending institutions about the consumer credit profile. In such a case institutions who have already extended loan are likely to raise Interest Rates, Fees or EMI so as to secure their own funds.
To Explain the same, have a look at the following,
Read moreWhat According to CIBIL is Credit Hungry Behavior of a Consumer ?
CIBIL , India’s premier credit bureau, has become a game changer for retail credit – the backbone of high-quality retail growth. CIBIL is probably one of the less-appreciated success stories of India’s financial sector evolution. It is today, probably the back-bone of the relatively high-quality and disciplined retail credit build out in India.
Satish Pillai, COO of CIBIL has shared some interesting insights, CIBIL has 160m credit accounts (300m product accounts). 90% of new retail credits are backed by
Read moreCIBIL Reaches 300 Million Accounts, Defaulters Beware
Kotak Mahindra Bank is the latest to expand its credit card offering but with heavy charges at every step you default. A reader of our Site writes to us about his woes and seeking guidance in using the Kotak Credit Card as follows, [73929]
I had applied for a Kotak Mahindra Credit Card in the month of June and I received the card in the first week of July. I used the card and kept on making the payments on time. Everything was fine. Due to some reasons, I had to switch jobs, due to which the date of my salary changed drastically. From 7th or 8th of the month to 28th of the month. I was worried because my whole
Read moreKotak Credit Card – High Auto Debit Charges & Over Due Charges
A Reader of our Website Writes to us seeking suggestion on false Marketing of Credit Card by ICICI Bank. His case is as follows,
I got a credit card of ICICI Bank. Card type is Coral (JET Airways). When i applied for this card, the customer care told me this is free card for 1 year. I had word with Mr Bhandari in ICICI Bank. But when i got the first bill statement, there are two charges. Joining fee of Rs 1,250 and a Service Tax of Rs 154.50. So I have registered a complaint with ICICI Card Customer Care. When i am asking for cancellation, then are refusing my words. Please help me regarding this.
Firstly, Credit Card Applications whether
Read moreICICI Jet Privilege Credit Card Annual Fees Dispute
The demand for loans in India for various products, including home and auto loans from banks and other financial institutions in India, has grown a sharp 150% since 2010, according to CIBIL. As India’s largest credit information company, CIBIL has 930 credit institutions as its members and maintains information on over 290 million consumer trades and 14 million commercial trades
What are the hit rates on CIBIL? Have they gone up?
Read moreWhat is the Co-Relation Between CIBIL Credit Score & Loan Sanction ?