C. S. Sudheer Review - Effect of Credit Cards on Credit Score
Is there any impact of how credit card is used on your
credit score? Let us find out the details in this C. S. Sudheer review.
How Credit Cards Impact Your Credit Score?
As
per CS Sudheer Bangalore,
just having a Credit
Card and not using it has no
effect on your Credit
Score. The way you use your Credit
Card post activation plays a big role in deciding Credit Score. Following are
the factors related to Credit Cards that impact your Credit Score:
i) Credit Utilization: According to C. S. Sudheer Indian Money
Bangalore, credit utilization must be
low. Maximum credit utilization shows that you are credit hungry and is
considered to be a red flag by credit bureaus. It is advisable to use
Credit Card only when there is a real need for it. It makes sense if you use it
when you are getting discounts and cash backs. Try to limit credit utilization
ratio (CUR) at 30%.
ii) Credit Repayment: Making timely payment is extremely important as these impact Credit
Score. Missing the payment
dates brings down your Credit
Score. Your credit
card repayment is
reflected on the Credit Report and influences your Credit Score.
iii) Credit Card Applications: Applying for multiple Credit
Cards shows your profile as credit hungers is in
desperate need of financial support and may be facing many financial complaints.
Apply and use limited number of Credit Cards with timely repayments. On
application for a Credit
Card, the lender would check
your Credit Score, this is called a hard enquiry. Hard enquiries negatively
impact your Credit Score. The number of credit cards you have influences
your Credit
Score.
iv) Keeping Credit Cards For Long Durations: As per IndianMoney.com reviews,
if you are using a Credit
Card for a long duration with
timely repayments, then you can expect to have a good
Credit Score. If you want to improve
your credit score, then don’t close your old credit card accounts (if you have
any), continue to use them with timely repayments. This will boost your
Credit Score as you will have a longer track record of repayments.
v) Minimum payments: This is the minimum amount that you need to make to avoid fines
and penalties. Pay off all outstanding credit
card dues within the billing
cycle + grace period. Paying minimum amount due may be reported to the Credit
Bureaus which has adverse effect on your Credit Score.
You
can check your credit score easily now by just checking the Indian money company profile and know
detailed explanation about it from the experts in the Sudheer Indian money review
panel.
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