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What are some suggestions for car insurance?

What are some suggestions for car insurance?

This is a truly challenging question to answer – car insurance is a vast topic and there is an equally vast list of suggestions for potential buyers. However, it would be difficult to highlight them all here but I will still list some of the more important suggestions that will help you with affordable, hassle-free and comprehensive insurance cover.
1. Don’t buy what others say is best.
Car insurance is an extremely subjective financial instrument. What suits one buyer might not suit the next. Therefore, if anyone tells you that a certain insurance policy is the best in the market, do not take their advice at face value and buy that policy. Instead, first understand your needs – do you want an affordable policy, do you want a policy for an old car that just meets the minimum requirement, do you want a comprehensive plan that provides overall protection, do you want protection from specific occurrences such as theft, etc. Based on your needs, go out there and compare plans and choose the one that best fits your needs.
2. Buy online.
Online car insurance is the way to go. Plans are easy to compare, considerably more affordable and hassle-free to purchase. So jump your agent & cancel those plans to go branch-hopping and just open up your web browser and get your needs sorted.
3. Look at claim settlement ratios.
Every insurance company has a claim settlement ratio. This number denotes the number of claims successfully settled per 100 claims made. The higher the ratio, the higher your chances of getting a claim successfully approved.
4. Give thought to add-ons.
If you go in for a comprehensive plan, remember to at least go through the add-ons on offer. They help you get protection from specific events such as engine failure, loss of keys, theft of valuable in your car, etc. Most often, people regret buying these add-ons after it’s too late.
5. Go through inclusions, exclusions, term & conditions.
Every car insurance policy will come with a good amount of underwriting. It’s very important you take time out to read through this document. You need to look out for things that cause issues later on and for things you do not understand. And if there is any reason for concern, make sure you clear it up with the insurer before going forward.
6. Read reviews.
Reviews offer a window into your future experience with an insurance company. There have been thousands before you who have plan his/her purchase the policy you are looking at. Their take on the services, overall experience, claim process, etc. offer valuable insights into the functioning of the insurance company.
7. Number of network garages is important.
The higher the number of network garages, the easier it for you to find one that will offer you cashless repair services in case of a claim. The last thing you want when you have to make a claim is to go hunting for network garages.
8. Compare premiums last.
Most people focus on the premiums. Some even opt for plans with poor coverage in order to get lower premiums. Ideally, you should create a shortlist of policies that suit your needs and that you find appropriate and then compare the premiums amount among these plans.
We suggest that you read up as much as possible before buying car insurance. Research terms such as IDV, deductible, NCB, etc. before buying any policy – they heavily influence the cost and protection of your car insurance. It’s next to impossible to sum up all the car insurance related advice into one single Quora answer.
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Which is the best cheaper car insurance company?

Which is the best cheaper car insurance company?

The cheapest will always be those bargain basement guys like The General or Safe Auto. That’s because their entire market niche is low coverage, cheap prices and limited service. They get you to “just legal” in your coverage. They’re almost always going to be the cheapest and —if you ever have to use them— you’ll know exactly why they’re so cheap.

For the most part, in my experience, there’s a nexus point where you trade good coverage for good prices. Another thing to consider, is that after medicine, insurance is the most tightly regulated industry state-by-state. Insurance companies cannot “dump” insurance on a state to put others out of business (i.e. — selling it below cost). They can’t even charge beyond a standard deviation in prices.
A lot of people LOVE to shake their fists at insurance companies but the profit margins are so fucking slim that the actual “insurance” part of their business is usually a money loser. Most insurance companies take your monthly payments and invest it in other industries (commodities, etc.) and take the profits from THOSE transactions and make their money off that. Seriously, insurance SUCKS at making a profit. So don’t blame them when your premiums are high.
That’s all your fault and your state’s.
The cheapest will be decided by which companies offer in your state, your driving record, your sex (where permitted), your credit rating (where permitted), your claims (“CLUE”) report, your type of car, your age, your marital status, where you live, how much property you own and how far you drive to work. It really will vary from company to company.






























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Which is the best car insurance company in India?

Which is the best car insurance company in India?

I work in a PSU General Insurance Company and I may seem a little biased, but I am telling you from my experience of working in the Motor Claims Department. 
Some of our major clients had shifted their premium to the private players, but they have all returned back to the PSU's. Have received similar feedbacks from a few individual clients. 
In my batch, one of my friends worked in a private general insurance company and he told us that they had targets of the number of claims to repudiate every year. This you won't ever find in a PSU. 


The PSUs might be slow in claim settlement, but you will surely get your claim if it is genuine and payable. 
As far as premium is concerned, PSUs offer a cheaper premium. In case you are getting a lower premium, don't forget to check the IDV of the vehicle, read the policy copy and check the type of vehicle registered in your registration certificate and in the insurance policy. Also check the premium computation. 


Till date, PSUs are leading in terms of Motor Insurance business with an exponential rise in the premium every year partly because of new vehicles and partly because of "HOMECOMING".
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Which coin is best to invest now?

Which coin is best to invest now?

Best Cryptocurrency to Invest 2018: Bitcoin (BTC)
If somehow, you’ve only heard of one cryptocurrency, it’s probably Bitcoin. It is the biggest cryptocurrency — it currently has a 40%i share in the total cryptocurrency market cap! It is the oldest cryptocurrency and it still dominates in the market. So, if Bitcoin continues to increase like it did in 2017, then investing in Bitcoin might be a good idea for 2018.
The price of Bitcoin changes a lot every day and has seen many highs and lows over the last few years. Take a look at the following chart and you will see just how much the price changes.

The price of 1 Bitcoin has gone from around $76 (07.09.13) to as high as $20,000 in December 2017. But then after Bitcoin reached its highest point in December, the price of Bitcoin dropped to around $6000 in February 2018. It’s crazy!
With the price changing so much in such a short space of time, how do you decide what the best time is for investing in Bitcoin?
Well, we can try to find the answers by looking at some important past events — when the price went up or down by a large amount.
  • One major event was when Bitcoin split into two cryptocurrencies — Bitcoin and Bitcoin Cash. This happened August 1st Investors who knew about this invested their money before the split and made huge profits, almost doubling their investment!
  • The price of Bitcoin dropped to around $10,000 in January 2018, almost half of the $20,000 it was worth in December 2017. Many investors became worried at this point and started selling their Bitcoin. This caused the price to fall to around $6,000 in February 2018.
If you made an investment in Bitcoin when the prices fell in February 2018, you would have already made about 100% profit on your investment.
Best Cryptocurrency to Invest 2018: Ethereum (ETH)
Towards the end of last year, the price of Ethereum was slightly higher than $720, with a total market cap of around $70 billion. At the beginning of 2018, Ethereum climbed and reached its highest price of $1423 on January 4. At this time, the total market cap for Ethereum was at $138 billion!
Ethereum grew by about 3000% in the year 2017 and became the second largest cryptocurrency, placing second behind Bitcoin.
Are you asking yourself, “Should I invest in Ethereum?” or “Is the price of Ethereum already at its peak?”. Well, the truth is, nobody knows! However, the following information should help you decide whether investing in Ethereum is a good option for you.
The chart below shows how Ethereum has grown over the last few years.
Below are the key events that have most affected the price of Ethereum in the past:
  • Ethereum received an investment of around $150 million in May 2016. As a result, its price went up from $1 in January 2016 to around $14.80in May 2016.
  • However, On June 18th, 2016, members of the Ethereum community found out that Ethereum had been hacked. Around $60 million worth of Ether (Ethereum’s currency) was stolen due to a flaw in a wallet. This caused the Ethereum price to drop from the high of $21.52 on 17th June 2016, to $9.96on the 18th June 2016.
Unlike Bitcoin, Ethereum is not just a digital currency. It is a more advanced blockchain project. This is because Ethereum offers something special — by using Ethereum’s platform, developers can build their own cryptocurrencies.
Imagine that you would like to build a blockchain-based solution for managing the supply chain of your business. Well, thanks to Ethereum, you don’t need start from the beginning. Instead, you can just build an application on Ethereum’s blockchain. Ethereum makes it much easier for new blockchain projects to launch.
So, is Ethereum your next cryptocurrency to invest in 2018?
I recommend that you think about adding Ethereum to your list, as I think it could be one of the best cryptocurrency to invest 2018.
Julian Hosp, a blockchain expert, said that the market cap of Ethereum could rise to $200 billion by the end of 2018. If Hosp’s prediction is correct, the price of Ethereum will nearly double to $2000. Hosp’s reason behind the prediction is based mostly on the ICOs (Initial Coin Offerings) that decide to use the Ethereum blockchain in 2018.
Ethereum also plans to improve their technology a lot this year, with new protocols almost ready to go. So, watch out for Ethereum!
Best Cryptocurrency to Invest 2018: Ripple (XRP)
Ripple, also known as XRP, was one of the best performing cryptocurrencies in 2017 with growth of around 36,000%! Yes, you read that right. It grew from almost $0 at the beginning of 2017 and reached $2.4 in December 2017 .
Like all other cryptocurrencies, the price of Ripple has also decreased in 2018 — it is currently set at $0.908.
I know what you’re thinking — you missed a great opportunity by not investing Ripple in early 2017. While that’s true, Ripple could still be a good option to consider as your next cryptocurrency to invest in 2018.
Even though the price of one XRP is a lot lower than the price of one Bitcoin, XRP is still the third largest cryptocurrency by market cap. Right now (03.05.18), it has a total market cap of around $35 billion.
So, what is it about Ripple that has made it so popular for investors?
The main reason for Ripple’s popularity is that it is not just a digital currency, but also a payment system. Ripple uses blockchain technology to make international payments securer and faster.
If you tried to make an international bank payment today, it would take around 2-10 days for the transaction to process. The same payment, when done using Ripple, takes a few seconds. How awesome is that!
But there’s more good news – many large financial institutions like American Express, JP Morgan and Santander are already using Ripple’s technology. Also, Ripple has been working with the Saudi Arabia Central Bank, China’s LianLian International and other banks from around the world.
So, if you’re wondering how to invest in blockchain, then Ripple might be the best answer.
Based on what I just explained, Ripple’s future in financial industry could be a good one. You should watch out for Ripple and learn more about their partnerships. Look out for new partnerships too — if Ripple signs a contract with another large bank, then it could increase the price of XRP.
The investors, who understood the services that are offered by Ripple, have made a lot of money. After a fantastic 2017, Ripple could just be the best cryptocurrency to invest 2018.
Note: Now might be a good time to invest in Ripple, as its price has dropped 70% lower than it’s all-time high of $3.4 in January 2017.
Best Cryptocurrency to Invest 2018: Litecoin (LTC)
Our list of what is the best cryptocurrency to invest 2018 cannot be complete without Litecoin. Just like Ripple, Litecoin showed great performance in 2017 with a growth of almost 8000%.
The price of Litecoin grew from around $4 at the beginning of 2017 to a high of $358 in December 2017. However, just like most cryptocurrencies, Litecoin also followed the price trend and dropped to $110 on February 2018.
Litecoin is the 5th largest cryptocurrency with a market cap of around $11 billion. Litecoin continues to interest investors because of its close connection to Bitcoin. Providing a good reason for Litecoin to be on our list for the next cryptocurrency to invest in 2018.
Litecoin was created in 2011 to improve upon Bitcoin’s technology. Litecoin completes a transaction 4 times faster than Bitcoin. However, unlike Bitcoin, the maximum number of Litecoin is capped at 84 million — 4 times more than the coin supply of Bitcoin (21 million).
Litecoin was the first cryptocurrency to perform a Lightning Networktransaction in May 2017. Using the Lightning Network, 0.00000001 Litecoin was transferred from Zurich to San Francisco in under one second! Once Litecoin starts using the Lightning Network, it could increase the price of the Litecoin!
Lightning Network: A new technology which increases the speed of transactions on the blockchain network.
Investment Strategies: Let’s Make Something Clear
How do investors make decisions they want to invest in real estate or stocks? Do they start making investments the moment they think about it? My guess is that the answer to that question is – no!
Before you invest in anything, you need a clear understanding of what your investment goals are and how you will achieve them. You want a good idea of how long you are prepared to keep your investment open, and what amount of profit you are happy to take.
You should have the same mindset with cryptocurrency investments. Before you decide what the next cryptocurrency to invest in 2018 is for you, let’s discuss the two main types of investment strategies for cryptocurrencies.
Long-term Cryptocurrency Investment
A long-term investment is one where you expect a cryptocurrency to perform better over a longer period of time. Simple! Normally, the minimum time for long-term investment is 6 months to 1 year. Although, some people plan to hold onto their investments for 5-10+ years. It’s up to you how you choose to invest; you can either make your full investment in one go, or you can invest at different times.
Long-term Investment Strategy
Once again, before investing any amount, you must have a clear idea of what your investment goals are:
  • Will you sell the cryptocurrency after a certain amount of time or will you sell it when it reaches a certain price?
  • Will you sell off your investment at once or will you sell parts of it at different times?
  • On what occasion would you sell the long-term investment in the short term? For example, if new laws come into place that could affect the long-term price of your investment, you might consider selling it sooner.
Next, you should do some research to decide which cryptocurrencies are best as long-term investments. I recommend that you check for the following:
  • Is their technology better than their competitors?
  • Do they have a strong team of founders and developers?
  • How good is their roadmap/plan?
  • Are they solving any real-world problems?
If you really believe in the cryptocurrency you invest in, you should learn to hold on to your investment even when the prices drop. If you ‘panic sell’, then you could lose money and regret selling.
Reasons For Making Long-Term Investments
  • Long-term investing makes your life easier as you don’t need to watch the market all the time
  • You believe that some cryptocurrencies will give a better return in the long-term
  • You truly believe in the future of the cryptocurrency
Short-Term Cryptocurrency Investment
Short-term investments are made over shorter time periods in the hope of making quick profits. So, just how short is a short-term investment?
Short-term investments can take seconds, minutes, days or even a few months.
How Do Short-Term Investments Work?
Just like long-term investing, you need to have clear goals for your investment. You need to be asking yourself:
  • What profit are you expecting to make from this investment? This will give you an idea of the price at which you should buy/sell the cryptocurrency.
  • How much of a loss will you accept? This will help you control your losses if the price of cryptocurrency suddenly drops.
  • Do you have time to study and follow the crypto market and the news?
  • Can you make technical analyses of the crypto market? If not, then you should learn before investing.
  • Will your short-term strategy give you higher returns than a long-term strategy?
You need to find out which is the best cryptocurrency to invest 2018 for short-term. Cryptocurrencies that have the following are good options for short-term investments:
  • Low market cap
  • High trading volume — lots of people are buying and selling it every minute
  • Are currently trending on the news and on social media
  • Have an ICO or have just finished their ICO — try to get them at a low price
While cryptocurrencies like Bitcoin and Ethereum can also be traded in the short-term, you should think about investing in the newer cryptocurrencies. Investors have made huge profits in past with short-term investments – including some of the major, but newest cryptocurrency investments like NEO, Stellar, IOTA and NEM.
The main advantage to short-term investments is that you can make a lot of money in a short amount of time — they have made a lot of people rich quickly. However, they still have their disadvantages.
So, what are they?
  • They take up a lot of time and effort as you need to watch the market prices constantly
  • It is a riskier investment and can result in greater losses because of how much the price changes in a short time
  • It can be very stressful and emotional
It’s difficult to say which is the better option of the two investment strategies. It all depends on your goals and experience in the cryptocurrency market.
If you really believe in a project, then I recommend that you invest for the long term. However, if a project is new and is generating a lot of attention, then short-term trading could be the better option.
Final Words
Do you know what most of the expert cryptocurrency investors say? You shouldonly invest money that you are not afraid to lose. It’s great advice, so always remember it!
Hope these inputs help you to choose the best out of the rest.

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Do people really make money on the stock market?

Do people really make money on the stock market?

According to my point of view every investor wants to make money in stocks, irrespective of the level of experience. It is easy to fall for the temptation, but one needs to have a good strategy in place to be able to protect capital and make decent returns. In the stock market 50-50 percent chance to earn profit and loss. 


 Investing in the stock market is simple but it is not that east to earn profit without spoiling the capital. It requires passion, patience and discipline. Plus, one needs to have a sound understanding of the market and the forces at work and also some bit of research capability.

 Although there is no sure-shot formula or one-size-fits-all solution for success in the stock market, there are some broad guidelines, which if followed prudently can increase your chances of making a decent profit.
Here I want share my personal experience. When I have started trading then I was having only basic knowledge of the stock market. I trade many times and earn profit as well as faced loss because I was not having fundamental knowledge and all the other technical knowledge. And also I was not getting enough time to analyze the all the data, market movement, stock data, fundamental and technical data.
So then after I started searching Advisory Company for stock market & I found Equitics Global Research Company for advisory regarding stock market. They are providing the best advisory. I feel it was best because they have technical team which is analyze the data and have surety about the any stock and it movement.
After I take service from Equitics and I had earned great profits. Their accuracy level is up to 90 percent. They are very sure about the market movement and then trend of the market. Here I just share my last month statement which I have got profit in it.
Till now they completed many packages of mine. But I am very impressed to see they are delivering the profits even in this type of correction and unpredictable market. Where big investors have lost trillion of rupees in this weak market there I earned decent profit with Equitics.
I just want to share my earnings with Equitics of recent months. Here the statement of last month where you can see my profits.
In this statement, you can see i given account to them on the date of 01/11/2018 and they completed my package on the date of 28/11/2018.
I really appreciate their work.
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What is the best way to earn money in stock market?

What is the best way to earn money in stock market?

My uncle purchased Maruti Suzuki 800 in the year 1998.
I asked him: “Why did you purchase Maruti in 1998?
“Becuase it was the best entry segment car in India and had a great market report. The cost was reasonable, the mileage was great and the customer service was fantastic.”
In 2003, Maruti Suzuki has an IPO. The stock rose from the level of 160 in 2003 to 7500 in 2018–19. If he had also invested the same amount in buying the stock, with 40+ times return, Rs 2 lakh would have been valued Rs 80+ lakh.

My brother in law is a distributor of Shree Cement company. They have taken the distributorship in 2008.
I asked him: “Why did you take Shree Cement distributorship?
“Their product quality was good and they were one of the fastest growing companies. The management was dynamic and the sales and marketing team was impressive.”
After the recession in 2008, Shree Cement stock was trading at the level of Rs 300–400. In 2018–19, it is trading at the level of 16000–17000. If he had also invested some amount in the share price, he would have received almost 50 times return in 10 years.

I started wearing Jockey underwear for the last 10 years. It was the time when people started wearing branded underwear. I remember people wearing low waist jeans to ensure that the word “Jockey” is visible. It was a “craze”.
For me, it is the most comfortable underwear ever. I still wear the same brand.
Page industry ( the parent company of Jockey) share price has moved from the level of 450 in 2008 to 21000 in 2018–19. If I had the wisdom to invest in such a quality product, I would have received 45+ times returns on my investment in 10 years.

My dad loves Titan watches. He purchased his first Titan watch in 1988. Since then he has been buying Titan watches. He even buys Titan watches for gifting purpose.
When I ask him: “Why do you buy Titan watches?
Dad: “I just love the product quality. I have been wearing the watches since 15–20 years and they are still working fine. The price is also reasonable.”
Titan share price was trading at the level of between 2-10 until 2005. In 2018–19, it is trading at the level of 900. That’s more than 90 times return in 14 years.

There are many more examples of such companies with exemplary products and services. For a retail investor, the best way to earn money in the stock market is to identify such products and services with a consistent track record and invest with a long-term financial goal.
Can you identify such product and services?

In case we are meeting for the first time,
Hi, I am Sahil and I educate people on personal finance.
Thanks for reading my answer.
Follow me for more answers on money management: Sahil Bhadviya
EDIT: A lot of people did not get my point. I agree that hindsight is easy but all I am saying is the best way to earn money in the stock market is by identifying great products and services. In order to support my statement, I have given examples of 4 such products which have proved that companies with good products and services provide greater value to their shareholder. Hence, look around and identify such products and services for good returns in future. Hope this makes it clear.
For an average retail investor, it is better to invest in a mutual fund than stocks.



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8 Ways to Improve Your CIBIL Score

<h1>8 Ways to Improve Your CIBIL Score</h1>
Your Credit score, or more commonly known as CIBIL score deriving the name from the primary agency maintaining the credit history, reflects your credit habits. It is calculated on the basis of your repayment habits, age and type of loan accounts, utilization etc. Banks and financial institutions, that grant a loan or credit card to you, can get a fair idea of loan pay back habits on time with your credit score.
Credit score is generally calculated in the range of 300-900, where a low score reflects bad credit history, while a score closer to the upper range highlights you as a genuine and responsible borrower. An individual with credit score 825 will get a loan more easily than someone with a credit score of 600.
Does low CIBIL score impact your eligibility for loans?
A low credit score is largely indicative of the bad credit habits of the borrower and hence, the banker may not be inclined to sanction the loan to you considering your past record. Many credit institutions like banks/ NBFCs generally have a minimum threshold of credit score for sanctioning the credit card/loan. Hence, a low credit score may impact your eligibility for the loan.
Few banks also provide preferential/special interest rates for the borrowers with higher credit score, thereby encouraging them to maintain a high credit score. Such incentives can be in form of a rebate over the prevailing card rates for the loans, a rebate in the processing charges for the loan or even in terms of faster processing of loan/credit card.
Improving your CIBIL Score
Now that you have understood several benefits of having a good credit score, let us discuss a few ways by which you can improve your CIBIL score:
1. Repaying your EMIs and Credit Card dues on time
Credit score is highly impacted by any amounts standing overdue on your account, as it is one of the major factors affecting your credit score. Good credit habits have their foundation in paying loan installments and credit card dues on time. At the same time, any defaults can adversely impact your credit score. So, you must always strive to keep the overdue amounts out of your credit report by paying all your EMIs and credit card outstanding amounts before the due date. The credit score matrix is favourable for the borrower when there are no overdue amounts on a consistent basis.
2. Settling Disputed Card Dues
While it is always desirable that the credit card and loan dues are paid on time, there might be certain cases when there are certain unwanted dues in your account. This may so happen that the credit card company has levies certain unauthorized charges or the loan account may be debiting the interest at higher rates. Similarly, there might be an unauthorized transaction on your credit card, and hence, you may not be liable for paying for such unauthorized transactions.
Hence, you must take appropriate action to raise claims with the banks against such disputed amounts. As per RBI Guidelines, the banks must give shadow credit against such unauthorized transactions and resolve such disputes in a time-bound manner. A shadow credit will help to clear the outstanding amounts from the credit report and make you liable only for the genuine dues.
Further, in case there have been certain excessive charges debited by the bank, you may want to resolve the dispute to gain peace of mind at lower amounts. Any such settlement will also help to clear the outstanding amounts from your credit report.
3. Better Credit Mix
Your credit score can also be improved by getting a better credit mix for your existing loans since a better credit mix reflects upon a prudent financial management by the borrower. A prudent credit mix should consist of a mix of secured as well as unsecured loans. As a financier, a secured loan is always preferable mitigating the risk of default to some extent. Borrowers tend to be more responsible in respect of secured loans. This is precisely the reason why a higher ratio of secured debt helps you maintain a higher credit score.
4. Lower Credit Utilisation
Credit score is not only helped by timely payment of dues, but even the spending pattern of the individual in the credit card impacts the credit score. Full utilization of the credit limit on a much regular basis can imply a high dependency of the individual on credit card debt and hence, can adversely impact your credit score. You must keep the credit utilization only at moderate levels and not completely exhaust the credit limits available on a routine basis.
Further, even if you feel like the credit limit is getting exhausted due to special spends on account of festivals, wedding occasions etc., you may pay off the credit card outstanding even before the statement is generated, as your credit limit is reinstated for the dues so paid. This will help you portray lower credit utilization, even while you may have spent a higher amount during the month.
5. Fewer Inquiries for New Credit Card/Loans
Your credit score displays the list of the credit inquiries made by the banks for the purpose of processing your loan/ credit card applications. Frequent credit inquiries in the credit report adversely impact your credit score, as it highlights the potential borrower as a credit hungry individual. This is seen as their excessive reliance on debt and thus, imprudent financial management.
Repeated credit inquiries may have happened even while the individual may be intending to borrow from one bank but at the same time, applying with multiple banks to get competitive interest rates. However, this may be seen as a sign of reluctance of the lenders to sanction loans/ credit cards to the individual. You must be careful to make a loan/ credit card application only when you genuinely want the loan. This will help your credit report stay clean and credit score stay good.
6. Close your Unused Credit Cards
Credit cards are a great tool for financial management, but if it is not managed well, it can be highly disastrous for your money matters. Credit cards are high interest-rate instruments but such amounts are levied only when you make a default on the credit dues and don’t pay by the due date. Several credit cards may also come with annual charges and other ancillary costs. Staying ignorant of such charges and consequently missing the payments of the outstanding dues can impact your credit score. Hence, it is a financially wise decision if you close your unused credit cards. Not only will this help you get your financials sorted out, but this will also reduce the available credit limit for you. As a result, the amount of total debt/ available debt decreases and the credit score improves.
7. Reviewing Your Credit Report on a Periodical Basis
You must keep reviewing your credit report at periodical intervals so that you are aware of the any changes in the credit report that happen. This will also help you plug any adverse impact on your credit score at an early stage. CIBIL allows you the facility of viewing your credit report free of cost once in a year. Then after one free view, the credit report can be viewed after payment of nominal charges at the portal.
8. Getting the Credit Report Corrected in case of An Error
You may have come to know about your low credit score from your banker, as your credit card application just got rejected. However, you are not aware of what exactly has gone wrong for you. You must be wondering why your credit score has gone wrong, even while you may have been paying your dues on time or taking other responsible actions. This might be on account of any unintentional error as well, without any action at your end, as the credit score is calculated on the basis of the data available with CIBIL and this data is submitted by different banks. There might be a situation when you would have paid the credit card dues, and it is still showing as outstanding dues in the credit report for a long time. CIBIL provides you with an online dispute form, wherein you can submit any information you wish to get corrected, and CIBIL gets the information validated from the banks etc. before correcting the information.
Taking steps to improve your credit score can help you be a financially responsible individual and also ensure that your access to personal loans does not get restricted due to low credit score. It is time to manage loans and credit cards smartly and prudently to maintain a good credit score.

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