Credit card in India Those using have increased rapidly in the last few years. Apart from the metro city, now the trend of credit cards has increased rapidly in Tier to and Three cities. Credit card users have most of the youth population. Credit cards are being used from shopping to walking and restaurant bill payment to ticket booking. However, the rapid credit card use has increased, the delay or default incident has also increased in the same proportion. Due to this, the credit score of many people is deteriorating.
Many people also have many confusion about credit card bill payment. The most prominent among them is, is the credit score bad or affected by paying the bill of billing cycle on the last day of credit card? If you also use a credit card, then you are looking for answers to this question, so let’s give us.
Questions and answers between India TV and Transonian CIBIL advisor MV Nair
Question: Does paying a credit card bill on the last day spoil the CIBIL score?
answer: no way! If you pay the credit bill on the last day of the date, then there is no effect on the credit score. Yes, if you pay the credit card bill after the date, then your credit score is definitely bad.
Question: Credit score is also spoiled by not paying or delaying mobile-electricity bill?
answer: The mobile-power bill has not yet been included in the CIBIL score. Only the credit bill is included in the CIBIL score. Credit bill refers to EMI of Credit Card Bill, Home Loan, Car Loan, Personal Loan. If a person delays or defers the payment of an EMI or credit card bill of a loan, then his CIBIL score is bad. Delay or lapse in mobile or electricity bill has no effect on the CIBIL score.
Question: How to fix CIBIL score and what are its benefits?
answer: Pay the bill of EMI and credit card on time. If even after this, the CIBIL score is showing poorly, then get it fixed. You can improve your credit score by informing the company issuing credit score.
Question: Why is the CIBIL score better?
answer: Due to better CIBIL score, not only banks give you a loan easily, but you have the qualification to negotiate for low interest from the bank. You can ask the bank for less interest. The bank will listen to you because your CIBIL score is better.
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