Whenever I pay for my online tranactions (train/bus booking, mobile bill payment, online purchase), use my credit card only. I am using credit card for past 1 year for shopping also. In average I used to get Rs. 3000-5000 (couple of times got 12000) credit card bill and paid all the bills on time. Actually I am using my credit card knowing my capacity only. Since it offers some grace period to repay the amount, instead of debit card / net banking, I am using my credit card.
Recently read one article saying if one who use credit card, CIBIL rate will come down? Is it true.. Last year I got a personal loan of 1 lakh and paid it on time without fail. My take home is 45k. Planning to take home loan in couple of years.
“CIBIL credit score is critical to the loan approval process. It provides lenders an indication of how likely it is that we will pay back a loan.”
So just want a clarfication on the use of credit card. Any input from experts much appricated. Thanks in advance.