How Today’s Women Are Faring In The Credit World
Advertisement
Advertisement
Look around and you will find a lot of women – from Start building your credit early
Don’t wait for a big event such as buying a house or for a situation when you need funds. Chances are you will get rejected due to absence of a credit history or a low score. If you are earning your own income, start building your credit history by taking a credit card. Good credit behaviour will ensure that you have no credit-related problem in the future.
Understand the rules of credit
Don’t leave it to others to tell you when and which loan to take. Understand your requirements, the details of the bank products and take your decision accordingly. Take into consideration all factors, such as the loan amount, tenure, interest rates, other fees and charges, etc.
Offers and schemes for women
Advertisement
Stay credit healthy
If you already have a credit facility to your name, it is important to ensure that you pay off your dues on time and show good credit behaviour. Don’t keep a whole bunch of credit cards that you don’t require. If you already have one loan and are planning to take another, ask yourself if you really need that loan. In case you are planning to take an unsecured loan (such as a personal loan), take it for the right purpose and always be sure that you can repay the instalments on time. It is important to stay ‘credit healthy’ always.
Plan you finances, watch your cash flow, keep your limits reasonable, track your expenses and pay your dues on time – always.
About the author: Satish Mehta is the Founder and Director of Credexpert, a credit and debt counselling company in India.
Advertisement
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’
- 10 Powerful foods for lowering bad cholesterol
- Eat Well, live well: 10 Potassium-rich foods to maintain healthy blood pressure
- Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty
- IREDA's GIFT City branch to give special foreign currency loans for green projects