Paying credit card bills 10 days before they are due is a useful tip. My credit card bill is due on the 28th of every month. Once, I forgot to pay the bill - this was very early in my financial journey. My credit score tanked from 750+ to barely above 700. Lesson learnt the hard way. Will implement this tip to stop any such mistakes in the future!
My dad's cibil score is down only because he took loan from CITI BANK, which is now merged with KOTAK MAHINDRA BANK. Now, every time they (KOTAK BANK PEOPLE) call to repay the loan. He tells them he already paid it then why your bank people calling repeatedly. 😤 Its been 10+ years he payed the loan with interest. He have documents to prove that he already had paid the loan. It not only happened with him, but with multiple people.
@@molivia. Do one thing, lodge a formal complaint with Kotak bank via email to mark the loan closed from their end. If they fail to do so in one month, you can launch complaint in RBI ombudsman
1. Did your father take NOC from the bank? 2. If not, that's why they are calling your father. 3. If you don't know what is NOC then search in RUclips.
It's awesome information. Much needed for this era where everyone is loaded with leverage. And this video is much informative so that 70% of problems can be solved by them. Wow awesome
the 30% Utilization is true, i have faced it first hand. One thing that I also noticed was that it has to be 30% per card and you cant just add all the card limits and calculate 30% of that. I have 2 CC with 5 lakh each limit but when I spent 2.2 Lakh on one of my CC, my score dropped by 30 points that cycle. Reason being over credit utilization. Be aware of this small detail.
Folks please make a video on how to close the cards and when to close the cards, the order in which the cards should be closed for someone for example who has 10 cards and wants to close the extra cards please. As even the closure would have impact I assume!!
I had 4 cards in the past and I closed all of them within 6 months & now after 1 year my score is 820ish. So, what I did was Find out which card had the highest interest rate and I decided to pay it off first but suppose the amount of all cards are more than your monthly salary and your whole income is going towards replayment what you can do it take a personal loan of the combined amount for all (eg: you have to pay 2lakh for your credit cards) the interest rate for that might be around 15-16% (Take it from banks only not apps they charge very high amounts). Pay off the credit cards and close them on the spot closing highest interest rate one first. Keep 1 card with lower limit open. That way you will be able to close the cards and get out of debt cycle. You will have more free money with which you could prepay your loan faster. And yes, you will see temporarily drop in your cibil score.
Checklist : How to improve your credit score? Here are a few key tips to keep in mind for improving your credit score: Open credit A/cs only when necessary Diversify credit types over time Make timely payments and do not default Keep credit card balances low & CUR less than 30% Check credit reports often to spot errors
Hey Abhishek and Team of Zero1, your videos on Personal Finance are eye openers...could you also teach something like Technical and Fundamental Analysis of Stocks...it would be very helpful. Thank you ❤
Your videos are great but I still feel there is a kind of lagging. I do understand the background story is needed but still A-Z details are not required. May be worth to think on this 🙂
Heys guys , Great video. Great efforts for letting others to get aware about Credit 💳 . Make videos on real estate, Black Money, a company named "Black Rock"(very less known how it works). Etc... Etc...
Actually same thing happened to me before I took loan of just 4000 which was disbursed by 2 lenders which I didn't know i payed all emis on time but when i checked my cibil score it adversely affected my credit score which was said to be overdue for more than 6 months
How to “earn” money from your expensive transactions? Disclaimer: Risky as it involves equity Want to buy a phone worth 60k? Take a no cost emi of 6months Invest the balance money in etf/index fund I.e 50k Setup an SWP (systematic withdrawal plan) to get 10k every month Earn a little bit of extra money for the transaction you were anyways gonna pay fully Assumptions: no cost emi is available and you have the complete amount in your bank at the time of converting into emi You may just earn 1-2k on this transaction
I am facing an issue like in my credit report there is showing multiple credit cards which are not taken by me with high utilisation which is leading to a decrease in my credit score. I spoke to my bank regarding this they are saying I don't have such credit cards with my account.What to do in this case?
Hi Yashwanth, thank you so much for sharing that idea with us! It’s a great topic, and I’ve passed it on to our content team. Really appreciate your input-stay tuned! 🙌
How can I resolve or remove a credit score impact caused by fraud? The incident occurred four years ago, and I have already sent numerous emails and filed a police complaint regarding the matter. However, the issue is still reflected as pending on my CIBIL report. Why is this happening?
My score in Experian and CIBIL are very different. In CIBIL I have 780 and in Experian I have 611. Now days there are multiple agencies and it is difficult for an average person to figure things out. can you make a video on this?
Sir my credit score is already low (600) as I missed some EMI's, Now I have cleared all dues and don't have any loans now. How can I increase the score now?? Please answer 🙏🙏
I have two cc, for past one year my credit utilisation was maybe 15-20% and never had hard credit check, and my experian dropped from 890 to 780 in just one cycle, can i know the reason
I have a habit of preparing the credit card debts, like right after I use it I send the amount to credit card. So I never kept track of bill date or last payment date. What impact does this have in my credit score?
I am not sure, you are correct on 30 % CUR of all limit combined... I have 5 credit card of 5 lakhs each and i just 4 lakhs on 1 credit card.... And cibil tanked 20 points... so I think cur 30 % per card limit is ideal way.
He was about to buy the latest iPhone, but after watching that video, he reconsidered and decided to stick with his two-year-old iPhone and not get the latest one without saving for it 😁
I earn 60k per month and paid my loans before the scheduled payment date. I have a CIBIL of 786. However, whenever I apply for a credit card, it gets declined. I work out of my state in a rural area. Is it because of address issues?
I have a doubt, there are these spend limits in icici bank and I guess other banks offer too. Anyways, if my offered limit is 7lacs and I took that but I kept the spending limit at 20%. Now if I use the entire 20% of it. It will show that available credit limit is 0. This shouldn't effect the credit score, right? I think the spend limit is exactly for this purpose but I want to confirm. As it kinda makes me anxious when I see thar it mentions my available credit is too low
Yes it will not affect it...that is the reason why the spend limit is there in the first place to keep yourself in check. You can increase it to 30% if you really need it but 20% is actually really good.
Credit Utilisation is total of all credit cards or each card, I have 6 cards & total available limit is some 20 L, Should I consider 30% of 20L or just each card ka 30 %
What does diversifying credit type mean? What other credit types are available for short term with zero interest(when paid on due date) apart from credit cards?
Diversifying credit types means using different kinds of credit, like loans and credit cards, to improve your credit score. The idea is not to take excess of unsecured loans. Besides credit cards, you can consider options like store financing or "buy now, pay later" services, which offer zero interest if you pay the full amount by the due date.
@@Zero1byZerodha Thanks for the reply. Currently or in the foreseeable future, I do not require any loans so asked the question. Somehow in India store financing is linked to credit cards or very few offers it and difficult to find it. BNPL, I will explore it.
Check out Zero1 Women : www.youtube.com/@Zero1women/videos
Zero1 Hindi: ruclips.net/channel/UCs2y3vIjRJG46v16kgVv_bQ
Paying credit card bills 10 days before they are due is a useful tip. My credit card bill is due on the 28th of every month. Once, I forgot to pay the bill - this was very early in my financial journey. My credit score tanked from 750+ to barely above 700. Lesson learnt the hard way. Will implement this tip to stop any such mistakes in the future!
Your videos remind me of good old shows that educates and still has a lot of personality in it. Keep up the great work!
Your comment made our day ❤ Kudos to the team :)
which shows r u talking about. pls name
Quality content it is
My dad's cibil score is down only because he took loan from CITI BANK, which is now merged with KOTAK MAHINDRA BANK. Now, every time they (KOTAK BANK PEOPLE) call to repay the loan. He tells them he already paid it then why your bank people calling repeatedly. 😤
Its been 10+ years he payed the loan with interest. He have documents to prove that he already had paid the loan. It not only happened with him, but with multiple people.
@@molivia. Do one thing, lodge a formal complaint with Kotak bank via email to mark the loan closed from their end. If they fail to do so in one month, you can launch complaint in RBI ombudsman
Reach out to higher authority, like RBI ombudsman, or customer court, just talking to them doesn't help
Go for a court case
Merged with Axis not kotak
1. Did your father take NOC from the bank?
2. If not, that's why they are calling your father.
3. If you don't know what is NOC then search in RUclips.
Best show for people who wish to change their Life.
I missed the intro video for this...come on guys...we love that
Roger that, today’s video will have it!
Best financial literacy channel i have ever seen
6:36 is the answer 🙏🏾
You guys are putting soo much effort🔥🔥🔥
It's awesome information.
Much needed for this era where everyone is loaded with leverage.
And this video is much informative so that 70% of problems can be solved by them.
Wow awesome
We can check with multiple banks within a span of 15days, it's considered only one hard check and won't impact score
the 30% Utilization is true, i have faced it first hand. One thing that I also noticed was that it has to be 30% per card and you cant just add all the card limits and calculate 30% of that.
I have 2 CC with 5 lakh each limit but when I spent 2.2 Lakh on one of my CC, my score dropped by 30 points that cycle. Reason being over credit utilization. Be aware of this small detail.
Folks please make a video on how to close the cards and when to close the cards, the order in which the cards should be closed for someone for example who has 10 cards and wants to close the extra cards please.
As even the closure would have impact I assume!!
I had 4 cards in the past and I closed all of them within 6 months & now after 1 year my score is 820ish. So, what I did was Find out which card had the highest interest rate and I decided to pay it off first but suppose the amount of all cards are more than your monthly salary and your whole income is going towards replayment what you can do it take a personal loan of the combined amount for all (eg: you have to pay 2lakh for your credit cards) the interest rate for that might be around 15-16% (Take it from banks only not apps they charge very high amounts). Pay off the credit cards and close them on the spot closing highest interest rate one first. Keep 1 card with lower limit open. That way you will be able to close the cards and get out of debt cycle. You will have more free money with which you could prepay your loan faster. And yes, you will see temporarily drop in your cibil score.
very very very useful stuff. I watched 3 in a row
Huge fan of you man
Varsity
Thank you 🙌
Keeping making videos bro. Amazing
For checklist pause rhe video at 7:54
Alternatively, visit the video description and find the link to checklist :D
Information is the main theme but Bloopers is the best part.
💯
Excellent video!
Very well discussed topic! Thankr you guys
❤❤❤
I really like the ideas of keeping abshiek as beigner, he relates me more
Liked before watching
Thank you 🙌❤
Thanks for sharing such obvious but important info.😀👍
This is a very helpful video. Thank you!
Thank you 🙌
Useful episodes, highly appreciate your efforts. Where can i find the checklist?
Happy to know that you found this episode useful 😊
You can find the checklist in the video description 👆
Man, credit card offers, I'm grateful to tata and hdfc bank for tata neu
Nice to explain about credit and cscore
Thanks for your love ❤
It's like they already know what I want to watch next...
We know…. 😬🫡
CHECKLIST IS JOHN CENA
you cant see me,
But I can see it! 😂
@@SajalKedia you are late so enjoy
@@only_Anjani you are late so enjoy
Checklist : How to improve your credit score?
Here are a few key tips to keep in mind for improving your credit score:
Open credit A/cs only when necessary
Diversify credit types over time
Make timely payments and do not default
Keep credit card balances low & CUR less than 30%
Check credit reports often to spot errors
❤ Nice video!
A detailed explanation. Good job.
Thanks a tonne ❤
Can you guys make a video on how to access credit report and also how to read it?
Thanks for putting up this awesome video. Could you please also explain how pre-closure of personal/car loan would impact CIBIL score ?
Another masterpiece
Guys, where's the checklist? Its not uploaded
Hey, it's there in the description above
@@Zero1byZerodha No sir, it's not there
Bro, they have added the link to checklist. Look carefully
Same issue here as well. I can't open this file when clicking the checklist link.
now okay
Wonderful video guys ❤ thanks for hard work
I think you guys forgot to add the check list can you pls add it
Hi Vignesh, thank you so much 🙌
The checklist is updated right there in the description
Hey Abhishek and Team of Zero1, your videos on Personal Finance are eye openers...could you also teach something like Technical and Fundamental Analysis of Stocks...it would be very helpful.
Thank you ❤
The CUR... Is it split across the cards? Or do we need to look at each card separately?
Great videos!
Hello.... Pls make a video on how to write to CIBIL regarding closed credit cards and closed loans, thanks in advance
Very informative!
Valuable information
Could you please create a video on proprietary trading, including an overview of its advantages and disadvantages?
I somehow got into this loop. I have over 8 CCs. But I track and oay them off all in time and in full.....atleast benefits are nice
Amazing content!
Hey Arindam, thanks for you love. Stay tuned 🙏
Your videos are great but I still feel there is a kind of lagging.
I do understand the background story is needed but still A-Z details are not required.
May be worth to think on this 🙂
Hi Satish, thank you for sharing your thoughts with us. We’ve passed on your suggestion to the content team.
I love this!
Thank you 🙌
Thanks for the cibil link
🙏
MYTH : checking credit score will not affect your cs,
tho i did not know about hard & soft checks thanks for that.
he is the college senior bhaiya we all wanted but never got
Ab mein aagaya hoon deinfluencing army!
Heys guys , Great video. Great efforts for letting others to get aware about Credit 💳 .
Make videos on real estate, Black Money, a company named "Black Rock"(very less known how it works).
Etc... Etc...
Glad that you liked the video 😇
Expect an episode on real estate investment soon. I'have passed on your suggestions to the content team.
@@Zero1byZerodha 👍
Actually same thing happened to me before I took loan of just 4000 which was disbursed by 2 lenders which I didn't know i payed all emis on time but when i checked my cibil score it adversely affected my credit score which was said to be overdue for more than 6 months
How to “earn” money from your expensive transactions?
Disclaimer: Risky as it involves equity
Want to buy a phone worth 60k?
Take a no cost emi of 6months
Invest the balance money in etf/index fund I.e 50k
Setup an SWP (systematic withdrawal plan) to get 10k every month
Earn a little bit of extra money for the transaction you were anyways gonna pay fully
Assumptions: no cost emi is available and you have the complete amount in your bank at the time of converting into emi
You may just earn 1-2k on this transaction
I am facing an issue like in my credit report there is showing multiple credit cards which are not taken by me with high utilisation which is leading to a decrease in my credit score. I spoke to my bank regarding this they are saying I don't have such credit cards with my account.What to do in this case?
Another Great Video
Thank you 🤝
I havnt taken any credit cards my cibil is 720 how can i take a credit card it requires little more cibil ryt
There shouldn't be any problem if we are utilizing above 30% of the credit limit and are repaying the amount on time.
please make a video on how to select suitable credit card, is a credit card needed to one? who should use it,
Hi Yashwanth, thank you so much for sharing that idea with us! It’s a great topic, and I’ve passed it on to our content team. Really appreciate your input-stay tuned! 🙌
@@Zero1byZerodha omg didnt expect this woooo eagerly looking forward for the video....🤩🤩
Your info Made me subscribe the page
Cool epic video thanks
Check list, pani mei gaya, chapak 👏👏👏
It's in the description above 👆
How can I resolve or remove a credit score impact caused by fraud? The incident occurred four years ago, and I have already sent numerous emails and filed a police complaint regarding the matter. However, the issue is still reflected as pending on my CIBIL report. Why is this happening?
My score in Experian and CIBIL are very different. In CIBIL I have 780 and in Experian I have 611. Now days there are multiple agencies and it is difficult for an average person to figure things out. can you make a video on this?
Have never taken a loan or credit card, which means my score is -1. What to do in this scenario pls make a video on this.
Apply for any pay later feature like Flipkart pay later or you can take secured credit card or loan from any bank.
What is a Good credit score for different purposes?
In the iPhone video Abhishek's salary was 20K per month....and in this video he is planning to buy an SUV after paying all the emi's 😂😂😂
Very good!
Thank you 🙌
Sir my credit score is already low (600) as I missed some EMI's, Now I have cleared all dues and don't have any loans now.
How can I increase the score now??
Please answer 🙏🙏
Thank You
NICE !!
I have two cc, for past one year my credit utilisation was maybe 15-20% and never had hard credit check, and my experian dropped from 890 to 780 in just one cycle, can i know the reason
I have a habit of preparing the credit card debts, like right after I use it I send the amount to credit card. So I never kept track of bill date or last payment date. What impact does this have in my credit score?
I am not sure, you are correct on 30 % CUR of all limit combined...
I have 5 credit card of 5 lakhs each and i just 4 lakhs on 1 credit card.... And cibil tanked 20 points... so I think cur 30 % per card limit is ideal way.
What is the difference between experian and other credit scores?
What if I have never taken a loan or credit card?
06:35, that`s what is the ultimate truth.
Please do video on how to pick stocks . Im a 24 year old female from science background, trying to improvise. Kindly help out
*Make vide on Investment strategy of Monish Pabrai*
The guy is perfect example of genz 😅
is cibil and credit score same ? bcz they don't come out to be same always !
Great video..
Previous video ke baad bhi Abhishek ne iPhone le hi liya 😂
He was about to buy the latest iPhone, but after watching that video, he reconsidered and decided to stick with his two-year-old iPhone and not get the latest one without saving for it 😁
@@Zero1byZerodha Still paying EMI (in the video opening) for 2 year old iPhone? 😁
Looking for the checklist
It's updated in the video description. Can you refresh and check again?
The CGI window brightness doesn't really match the room brightness
THANK YOU SIR
After clicking on get your free cibil why does it ask for irrelevant details and asks to pay 118₹
I earn 60k per month and paid my loans before the scheduled payment date. I have a CIBIL of 786. However, whenever I apply for a credit card, it gets declined. I work out of my state in a rural area. Is it because of address issues?
I have a doubt, there are these spend limits in icici bank and I guess other banks offer too. Anyways, if my offered limit is 7lacs and I took that but I kept the spending limit at 20%. Now if I use the entire 20% of it. It will show that available credit limit is 0. This shouldn't effect the credit score, right? I think the spend limit is exactly for this purpose but I want to confirm. As it kinda makes me anxious when I see thar it mentions my available credit is too low
Yes it will not affect it...that is the reason why the spend limit is there in the first place to keep yourself in check. You can increase it to 30% if you really need it but 20% is actually really good.
Is the video English or Hindi
Do onescore app provides soft check or hard check?
Credit Utilisation is total of all credit cards or each card, I have 6 cards & total available limit is some 20 L,
Should I consider 30% of 20L or just each card ka 30 %
How one should report to cibil for wrong credit score
10 day before? Why? if we pay on time is it not good?
where is the link to check soft check credit score ?
If i repay my loan in lump sum amt rather than in installment will it affect my cibil score??
Mine is not decreasing but neither increasing......
how to check control number in free cibil report by cibil
how to improve credit score after settlement
Sir , how do we reach to cibil in case of describency ?
What does diversifying credit type mean? What other credit types are available for short term with zero interest(when paid on due date) apart from credit cards?
Diversifying credit types means using different kinds of credit, like loans and credit cards, to improve your credit score. The idea is not to take excess of unsecured loans.
Besides credit cards, you can consider options like store financing or "buy now, pay later" services, which offer zero interest if you pay the full amount by the due date.
@@Zero1byZerodha Thanks for the reply. Currently or in the foreseeable future, I do not require any loans so asked the question. Somehow in India store financing is linked to credit cards or very few offers it and difficult to find it. BNPL, I will explore it.
Credit scrore VS CIBIL score