CIBIL Score – Credit Score Explained in Hindi
What is the Concept of Credit Card?
A credit card is a type of payment card that allows the cardholder to borrow funds from a financial institution to make payments and purchases. A credit card also provides the cardholder with a line of credit, which is the maximum amount of money that can be borrowed at any given time. Credit cards are issued by banks, credit unions, and other financial institutions, and they can be used to purchase goods and services from merchants who accept them.
When a cardholder uses a credit card to make a purchase, they are borrowing money from the issuer of the card. The cardholder must pay back the borrowed funds, plus interest and other fees, within a specified period of time. If the cardholder fails to pay back the loan in full, the issuer of the card may impose additional fees and interest charges.
Credit cards allow cardholders to purchase goods and services without having to pay for them upfront. This can be helpful for consumers who need to make large purchases but don’t have the cash to do so. By using a credit card, consumers can pay for their purchases over time, making it easier to manage their finances.
Credit cards also offer cardholders additional benefits, such as rewards programs, travel insurance, and purchase protection. These benefits can help cardholders save money when they make purchases, as well as provide additional peace of mind when traveling or making expensive purchases.
Credit cards also help to build credit, which can be a valuable asset. When cardholders pay their monthly bills on time and in full, they will be able to build a positive credit history, which can help them access loans and other financial services in the future.
Key Points:
• A credit card is a type of payment card that allows the cardholder to borrow funds from a financial institution to make payments and purchases.
• When a cardholder uses a credit card to make a purchase, they are borrowing money from the issuer of the card and must pay back the borrowed funds, plus interest and other fees, within a specified period of time.
• Credit cards allow cardholders to purchase goods and services without having to pay for them upfront.
• Credit cards also offer cardholders additional benefits, such as rewards programs, travel insurance, and purchase protection.
• Credit cards also help to build credit, which can be a valuable asset.
People Also Ask Questions and Answers:
Q: How do credit cards work?
A: Credit cards are payment cards that allow cardholders to borrow funds from a financial institution to make payments and purchases. When a cardholder uses a credit card to make a purchase, they are borrowing money from the issuer of the card and must pay back the borrowed funds, plus interest and other fees, within a specified period of time.
Q: What are the benefits of using a credit card?
A: Credit cards provide cardholders with a number of benefits, such as the ability to purchase goods and services without having to pay for them upfront, rewards programs, travel insurance, purchase protection, and the ability to build credit.
Q: Are there any risks associated with using a credit card?
A: Yes, there are some risks associated with using a credit card. If cardholders do not pay their bills on time and in full, they may incur high interest charges, late fees, and other penalties. Additionally, if cardholders spend more than they can afford to pay back, they may find themselves in a cycle of debt.
What is the concept of credit card? – 6 Tips
What is CIBIL Score? How a good CIBIL Credit Score can help you in getting a credit card or any loan – home loan, loan against property, personal loan, car loan etc. A bad cibil score on the other hand can hamper your chances of getting a loan.
Get free CIBIL score and credit report directly from CIBIL website. Transunion CIBIL maintains credit record of all people and businesses who have taken loan or credit in India.
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Related Videos:
How to Check CIBIL Score – https://youtu.be/0Zc98SGQ0Do
CIBIL (Credit) Score Calculation – https://youtu.be/wZ01FotTAw4
How to Improve CIBIL Score – https://youtu.be/EbDzrB9HwOg
Loan with low CIBIL Score: https://youtu.be/zSPvlX4wQdI
What is a Good CIBIL Score: https://youtu.be/UFXLqxVo6q4
How to read CIBIL Credit Report: https://youtu.be/sQzkfunvfvM
Time Stamps
00:00 Introductions
01:14 Importance of CIBIL Score
02:25 What is CIBIL Score?
03:03 Range of CIBIL Score
05:14 How is CIBIL Score Calculated?
06:29 How do High and Low CIBIL Scores affect us?
07:19 What is a Good Score?
07:35 NA in CIBIL means
CIBIL स्कोर क्या है? अच्छा CIBIL क्रेडिट स्कोर कैसे क्रेडिट कार्ड या कोई लोन पाने में आपकी मदद कर सकता है – होम लोन, लोन अगेंस्ट प्रॉपर्टी, पर्सनल लोन, कार लोन इत्यादि। दूसरी ओर एक खराब CIBIL स्कोर लोन पाने की सभी संभावनाओं को ख़त्म या कम कर सकता है।
CIBIL वेबसाइट से सीधे CIBIL स्कोर और क्रेडिट रिपोर्ट प्राप्त की जा सकती है। ट्रांस्यूनियन CIBIL उन सभी लोगों और व्यवसायों का क्रेडिट रिकॉर्ड रखता है जिन्होंने भारत में लोन या क्रेडिट लिया हुआ है।
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In this video, we have explained:
What is the concept of CIBIL score?
How to understand your CIBIL score and credit report?
Why maintaining CIBIL score is important?
How you can maintain a good CIBIL score?
Why banks check CIBIL score of individuals before approval of any loan?
How banks check the credit worthiness of individuals and businesses?
What is the range of CIBIL score and what is the ideal CIBIL score for individuals and businesses?
Why Indian banks and financial institutions share their credit data with CIBIL?
What is Transunion CIBIL?
How you can check your CIBIL score from CIBIL website?
What is the meaning of different percentages of CIBIL score?
Which factors affect the CIBIL score?
What are the benefits of the good CIBIL score?
What is the downside of the lower CIBIL score?
What range of CIBIL score or credit is considered good?
How a bad credit score can affect your capacity of getting a loan or credit?
Why your credit report or CIBIL score is showing NA or NH?
How maintaining a good credit score can help you in getting a credit card or any loan?
Why transunion CIBIL maintains credit record of individuals and businesses who have taken loan or credit in India?
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