Lenders consider your credit score among other things when determining your creditworthiness. A high credit score might help you qualify for lower interest rates on loans, credit cards, and other financial goods, whereas a low credit score could result in higher interest rates or even loan denials. The following advice will help you get started if you want to raise your credit score. 1. Review Your Credit Report: Knowing where you stand is the first step to raising your credit score. The three main credit agencies (Equifax, Experian, and TransUnion) will provide you with a free credit report, which you should review for any problems or inaccuracies. If you discover any errors, report them to the credit bureau and the lender to get them fixed. Pay Your Bills On Time: Your credit score is mostly influenced by your payment history. Make sure to pay your bills on time each month because late payments can significantly harm your credit score. Consider setting up automated payments or payment reminders if you’re having trouble keeping up with your payments to prevent missing any deadlines. Reduce Your Credit Card Balances: Having a lot of debt on your cards might also lower your credit score. To avoid being perceived as a high-risk borrower, try to keep your credit card balances below 30% of your credit limit. Consider merging your credit cards into one loan with a cheaper interest rate if you have several cards with big amounts. 4. Refrain from Opening Too Many Credit Accounts: Opening too many credit accounts quickly might also damage your credit score. Every time you ask for credit, a hard inquiry appears on your credit report; these inquiries can stay there for up to two years. Think carefully before and during the credit application process.
It is true that you can use your Flipkart Axis Bank Credit Card offline at any business that takes credit cards. To finish the transaction, just swipe your card and enter your PIN. Additionally, you can use your card to make cash withdrawals at ATMs, but bear in mind that cash advances have hefty fees and interest rates.
For individuals seeking a credit card with no annual fee and rewards on everyday purchases, the Axis Ace Credit Card is a solid choice. The card offers 1% reward on all other purchases and 2% cashback on fuel, groceries, and utility bill payments. Additionally, it offers a Rs. 500 welcome incentive on your first transaction. However, you might want to think about other possibilities if you’re searching for a card with bigger points or additional benefits like access to airport lounges.
Depending on the bank and the type of card you’re asking for, there may be a minimum salary requirement. To be qualified for a credit card, banks often require a minimum monthly income of Rs. 15,000 to Rs. 20,000. To qualify for some premium cards, though, you could need more money or a better credit rating.
Depending on the type of account you have, different Axis Bank savings accounts have different minimum balance requirements. The minimum balance required for regular savings accounts is Rs. 10,000 for urban and metro areas and Rs. 5,000 for semi-urban and rural locations. Zero balance savings accounts and premium savings accounts, on the other hand, could have different requirements. It’s crucial to clarify the minimum balance requirement for your account with your bank.
In Axis Bank, you can open an account with no balance. The option for a zero balance account is one of the many features and advantages offered by Axis Bank’s selection of savings accounts. You can visit Axis Bank’s official website or get in touch with their customer care to learn more about the requirements and procedure for opening a zero balance account there.