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:

  1. i) Credit Utilization: According to 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%.
  2. ii) Credit Repayment: Making timely payment is extremely important as these impact Credit Score. Missing the payment dates brings down yourCredit Score. Yourcredit 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.

  1. iv)  Keeping Credit Cards For Long Durations: As per com reviews, if you are using a Credit Card for a long duration with timely repayments, then you can expect to have agood 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.
  2. v) Minimum payments: This is the minimum amount that you need to make to avoid fines and penalties. Pay off all outstanding credit card dueswithin 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.

https://indianmoney.com/articles/how-credit-cards-affect-your-credit-score

https://www.glassdoor.ca/Overview/Working-at-IndianMoney-com-EI_IE554119.11,26.htm

https://tl.wordpress.com/tag/c-s-sudheer-review/

https://IndianMoney.com

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