Introduction: Credit cards have become an integral part of our financial lives, offering convenience and flexibility in making purchases. However, behind their apparent benefits lies a potential downside that often goes unnoticed – the negative power of compounding. In this article, we will explore how credit card usage can lead to a negative compounding effect, … Continue reading Credit Cards and the Negative Power of Compounding
Understanding Personal Credit Score: A Complete Guide
What is a Credit Score? A credit score is a numerical representation of a person’s creditworthiness derived from their financial history. In India, Credit Information Bureau (India) Limited (CIBIL) is the most widely recognized entity that calculates credit scores, ranging from 300 to 900. Credit bureaus evaluate factors like your loan payment history, type and … Continue reading Understanding Personal Credit Score: A Complete Guide