Use cards sensibly to improve credit score

The average Indian shopper today is likely to have at least two credit cards in his wallet. In fact this number has been on the rise with banks and credit card companies sending free lifetime credit cards with -attractive features’ to anyone who they think fits the bill. These cards sometimes come as a -surprise gift’. p>

As a customer you have the choice to use the card or return it. If you receive a credit card, which you had not asked for you just need to cut it into two and send it back to the bank, declining the offer.

The more cards you have the more tempted you will be to avail the offers on each of them and at some point in time discipline could give way to reckless spending leading you into a maze of spiralling debt before you realise what hit you.

For a spender who is not disciplined in prompt repayments, debt can mount in accelerated proportions.

If you use your credit card extensively or even if you use it once in a while, it would be prudent to access your credit report from Cibil (Credit Information Bureau (India) Limited). You can manually access your credit report by placing a request with Cibil, details of which are available at

Though currently you can pay for this report through Cibil’s online payment gateway, you cannot access your credit report online as of now but this will be enabled in future. Once you make your payment Cibil will send you a hard copy of your credit report to your postal address.

Having access to credit reports is a definite step for the genuine borrower with an excellent credit profile to increase his negotiating power. So, how can you ensure your credit report gives you this negotiating power?

Well, what can be the doom for a reckless spender can be an excellent tool for the disciplined borrower. It depends on how you use your credit card. This can be the single most important factor in improving and increasing your credit score.

Here are some pointers on what to do and what not to do in order to achieve this.
1. Judicious use: Making use of a credit card judiciously will help you improve your credit score. Just make sure to choose a card that is suited for you from a well known brand.

2. Low credit limit: Keep a tab on the credit limit of your card. Open a credit card account with a company that will provide you with the highest credit limit possible. High credit limits, even if they are not used, will add merit to your credit score and improve it.

3. Closing credit card accounts: The number of years you hold a credit card account has an impact on your credit scores. So keep your oldest credit and if you must close a card opt for the most recent cards and close them one at a time, maybe once a month over a period of time, as closing them too quickly could also affect your credit score as your available credit limit will take a dip in one go.

4. Bargain for a lower interest rate: If you have never defaulted on payment for a few years, make use of your good repayment track record and speak to the bank officials for a better bargain. Request them to lower your interest rate citing the good track record.

5. Request for hike in credit limit: The most recent card has the highest credit limit. The oldest card has the lowest credit limit. What do you do? In such instances, if you have a good repayment track record, approach the bank and negotiate for a higher credit limit especially since you have been their customer for quite a few years. Most banks will facilitate such a request. You can then go ahead and close your most recent card.

6. Keep a self imposed credit limit: Never exceed 40% of your credit limit. This has a beneficial effect on your credit score. This shows your credit limit is high but you have not burnt it up and have plenty in reserve. This logic helps you attain a much higher credit score. The same logic suggests you should not close any credit card accounts, as they collectively will provide you a high credit limit, which is good for the score.

7. Paying off credit card dues quickly: This will dramatically improve your credit score. Try not to accumulate too much credit card debt. Be wise and pay the dues quickly and keep rotating your cards. Paying off dues timely will spike your credit score.

Advantages Of The Hsn Credit Card

You love HSN, so why would you not love the HSN credit card? You usually pay for your HSN purchases with a credit card anyway, so why not use the HSN card. Besides, you get benefits from the use of you HSN card that you wouldnt otherwise get from another credit card.

One of the benefits of your HSN card is that you get to earn points that earn you free shipping on shoes, jewelry items, cosmetics, and accessory items. These shipping deals put money in your pocket as they accumulate and you get to keep money that otherwise would have gone to UPS or FedEx.

Other benefits include the MasterCard logo, meaning that you can use your HSN credit card all around the world. If you want the MasterCard logo, make sure that you apply for the HSN MasterCard: there is also a non-network version of the card that you use only with HSN.

You can apply for either of the two HSN credit cards online, so you can know right away if you are approved. In additional to the points you earn, you also qualify for special discounts from time to time. Flex pay is one more example of how you can get Extra Flex payment terms on certain items.

How to Add Positive Accounts to Your Credit Report

Are you facing credit issues and want to repair your report? There are different ways in which you can fix your credit report all by yourself. One of the major one being paying your debt on time. The more you make late payments, the more your credit score would get affected.

If you are one of the many people who are wondering how to fix your credit score, you have plenty of ways to do it. The most important thing to do is to start paying down the debt that you have and paying your bills on time. Every time you make a late payment, you can be sure that it is affecting your credit rating. Strive to make all of your payments on time and even early when possible. The sooner you are able to pay your debt down the better you will be for it.

Once you are able to start getting your debt under control, you will then be able to add positive credit information to your report. You can do this in several ways. By adding positive marks on your report, your credit score will start to rise. You will qualify for more loans, and you will be able to get them at a decent rate. Here are a few of the things that you can do to boost your credit score now.

Create positive credit by ensuring that the creditors with whom you are in good standing report on time payments. For some reason, many creditors do not report this. If you have talk with your creditor and they agree, you can often have them added to your report. This positive factor on your report will help you improve your credit score.

Choose a secured credit card from Visa or MasterCard. With a secured card, you do not have to worry about going over your limit because you are going to be drawing from a deposit that you make. However, when you make your payments, you will see that your credit score starts to rise. It is a great way to start to raise your credit score. Because they are secured, it may take more time, but it is a start. If you have a traditional card, you can keep a small running balance and pay each month rather than pay the entire amount. The payments will help raise your score. Retail store cards are another option, and if you already have another card, they should not be too difficult to get unless your credit is severely damaged.

These are some simply ways that many people will be able to start to improve credit. Every little bit is going to help, and it is a good idea to start repairing as soon as you are able.

Fix your credit report and increase your credit score in 40 Days and start saving thousands each year. Get your FREE Credit reports, remove errors, fix your credit and increase your credit score fast. See How Much you can save!

The author of this article is associated with Credit Umbrella Inc., which is renowned for its powerful TurboScore software for repairing credit report effectively and quickly.

ICICI Bank to make credit Card IVR transactions more secure from FEB

From February 1, 2011, IVR tansactions on ICICI Credit Card will be completely secure, as per ICICI bank. Based on a Reserve Bank of India mandate, The bank has introduced an additional layer of security for IVR transactions on ICICI Bank Credit Cards. p>

Every time you pay for a purchase or service through any merchant’s telephone system (IVR), you will be asked to input a One Time Password (IOTP). One can generate the IOTP via SMS or ICICI Bank website or even in realtime during a purchase. This one-time password is valid for 24 hours or one transaction, whichever is earlier. After February 1, 2011, no transactions over IVR will be carried out without IOTP verification, as per the bank.

Banks have already introduced 3Dsecure for internet transactions, which they say is for additional safety.

Maurices Credit Cards

Maurices, a national chain that specializes in carrying a wide variety of sizes in women’s clothing, can be a fantastic place to shop for any woman of any size. This store is a fantastic option for a curvy girl who has distress finding stylish clothing that also fits her shape. With hundreds of convenient locations nationwide as well as an simple-to-use, comprehensive website, a Maurices credit card can be a fantastic way to budget a high style wardrobe.

Setting up a Maurices credit card is extremely simple. Most stores have forms available upon request, and they can accept your application directly. Sometimes this option offers instant savings just for signing up. An online form for a Maurices card is also available on their website, which may be an simpler option for you. Once you receive your Maurices credit card in the mail, you instantly get a 15% off savings pass. You also instantly get a credit for 10% off your entire first card buy at any Maurices location.

A Maurices credit card is a relatively low-risk card that can help increase your credit rating. It could be one of the best credit cards you will get in 2011. Financially speaking, because of an APR of around 25%, a Maurices card has a very reasonable interest rate. There is also no annual fee for holding the card. With your Maurices credit card, you receive a personal online account accessible through a login ID and password. From this account, you can order merchandise, observe your account statement and status, pay your bill online, request a higher credit limit, add members to your account, and generally manage all of your fiscal needs. You can constantly monitor how much you have spent, how much you owe, and when your bill is due. There is small risk involved because your account is very simple to monitor and maintain.

In addition, your Maurices credit card can also help you save every time you use it. There is no finance charge for members who pay in full at the end of every month, and members receive advanced notices of sales and specials, allowing you to plot ahead before spending. On top of the initial 15% off savings pass and 10% off your first credit card buy, Maurices stores also have a frequent buyer reward system. Whenever you buy $10 or more in Maurices merchandise, the store credits a punch card. After you spend $200, you receive $10 off your next buy (with the presentation of the completed punch card). Combining these money-saving systems can push your budget far.

Because Maurices is a national chain with around 800 stores in nearly all fifty states, you will never have a problem finding a store in which to use your Maurices card. Maurices is also a subcompany of Ascena Retail Group, Inc. This group also owns other women’s and girls’ retail stores such as DressBarn, the Limited, Limited Too, and Justice, to name a few. If you are interested in any of these other stores, a Maurices credit card may be accepted at these other locations as well, depending on the regulations of the individual store owner.

A Maurices credit card could benefit your bank account. With a low APR, paying this card monthly is very simple to do. Signing perks and instant store savings makes applying for a Maurices card not only simple but a excellent choice for your wallet. Members receive many benefits like sales notifications. Because of numerous Maurices store locations across the United States, you will never regret getting your Maurices credit card.