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
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
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
If someone doesn't have credit card and never took any loan then what will be their credit score? Also is there way have a good credit score without using credit card?
Amazing video, Got to learn a lot ❤ I had a doubt regarding the credit card debt cycle: When an old credit card is shut down (with lots of transactions) in order to get the new credit card with better benefits, the algorithm reduces the credit score temporarily. How is it rewarding you for new debt?
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...
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?
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 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.
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! 🙌
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 😁
@4:38 - Yeh Abhishek to Memory supplement khilaayiye nahi toh mujhe apne videos mein lijiye!! Last to last video mein isko aapne Credit Card Debt Cycle and Apple Effect samjhaya tha.. 2 videos later he is saying “hogi kuch”! Bad student Abhishek! 😅😂
@@Zero1byZerodha been tracking my credit score since day 1, also I was I think 19 or 20 when I tried to track my score n then I found out I did not have a score to begin with, so I went a little crazy and took a gold loan, this option may not be for everyone, and closed the loan in 1 year but in the process a credit score their for me, you can say I paid for my credit score🤣, anyways since then, I have used my credit cards to grow my credit score and even been through a bad credit debt phase as well, thankfully I am more mature because of it, even though I am still 22😎 Also I still have no effing clue why I wanted a credit score 🤣🤣
@@Zero1byZerodha ok so I was 19 or 20 when I tried checking for what my credit score was and obvsly I was a student with no loans so there was no credit score, so I went a little risky and took out a gold loan, with due permissions, relax readers, and viola, 1 year later closed the gold loan and got the credit score. Technically it's a paid credit score 😂, anyways since then I have been researching n diligent and been through 1 bad debt trap phase as well and yeah that's a how I got 782 on cibil trans union and 788 on Experian. Although I have no clue why I wanted a credit score in the 1st place 😂😂, it did help me get a pre approved credit card from hdfc 😎😎
@@Zero1byZerodha ok so I was 19 or 20 when I tried checking for what my credit score was and obvsly I was student with no loans so there was no credit score, so I went a little risky and took out a gold loan, with due permissions, relax readers, and viola, 1 year later closed the gold loan and got the credit score. Technically it's a paid credit score 😂, anyways since then I have been researching n diligent and been through 1 bad debt trap phase as well and yeah that's a how I got 782 on cibil trans union and 788 on Experian. Although I have no clue why I wanted a credit score in the 1st place 😂😂, it did help me get a pre approved credit card from hdfc 😎😎
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
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 %
@@Zero1byZerodha i had got a credit card baised on fd when i was 18. I am not really spending money to have fun kind of guy. So over time the credit score went up. Right now i have 4 credit cards out of which only 1 is fd based and 3 are normal credit cards which aren't backed by fd
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.
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.
"I have a loan that I am repaying regularly, but the bank hasn't updated this information with the credit bureau. Is there an email address where I can contact the bureaus to request a correction to my credit score?"
![What Credit Cards You Should Have by INCOME? [Detailed Review]](http://i.ytimg.com/vi/RsQFUJGXeHQ/mqdefault.jpg)
![What Credit Cards You Should Have by INCOME? [Detailed Review]](/img/tr.png)
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
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
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 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
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
Huge fan of you man
Varsity
Thank you 🙌
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
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.
💯
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 👆
I really like the ideas of keeping abshiek as beigner, he relates me more
You guys are putting soo much effort🔥🔥🔥
Thanks for sharing such obvious but important info.😀👍
We can check with multiple banks within a span of 15days, it's considered only one hard check and won't impact score
Nice to explain about credit and cscore
Thanks for your love ❤
This is a very helpful video. Thank you!
Thank you 🙌
Very well discussed topic! Thankr you guys
❤❤❤
very very very useful stuff. I watched 3 in a row
The CGI window brightness doesn't really match the room brightness
If someone doesn't have credit card and never took any loan then what will be their credit score? Also is there way have a good credit score without using credit card?
Default is 500,and you need good credit score to get the good credit cards.
Amazing video, Got to learn a lot ❤
I had a doubt regarding the credit card debt cycle: When an old credit card is shut down (with lots of transactions) in order to get the new credit card with better benefits, the algorithm reduces the credit score temporarily. How is it rewarding you for new debt?
*Make vide on Investment strategy of Monish Pabrai*
Great videos!
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
Can you guys make a video on how to access credit report and also how to read it?
Man, credit card offers, I'm grateful to tata and hdfc bank for tata neu
Mine is not decreasing but neither increasing......
The CUR... Is it split across the cards? Or do we need to look at each card separately?
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 ❤
Thanks for putting up this awesome video. Could you please also explain how pre-closure of personal/car loan would impact CIBIL score ?
A detailed explanation. Good job.
Thanks a tonne ❤
Could you please create a video on proprietary trading, including an overview of its advantages and disadvantages?
Is the video English or Hindi
Awesome content!
is cibil and credit score same ? bcz they don't come out to be same always !
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.
Very informative!
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 👍
Thanks for the cibil link
🙏
Cool epic video thanks
Another Great Video
Thank you 🤝
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.
Liked before watching
Thank you 🙌❤
It's like they already know what I want to watch next...
We know…. 😬🫡
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?
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 🙏🙏
Another masterpiece
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
I love this!
Thank you 🙌
Looking for the checklist
It's updated in the video description. Can you refresh and check again?
What is the difference between experian and other credit scores?
What if I have never taken a loan or credit card?
What is a Good credit score for different purposes?
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.
MYTH : checking credit score will not affect your cs,
tho i did not know about hard & soft checks thanks for that.
Where's the list?
Hi Romit, it's updated in the video description
Can you check?
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?
NICE !!
Great video..
Please do video on how to pick stocks . Im a 24 year old female from science background, trying to improvise. Kindly help out
Check list, pani mei gaya, chapak 👏👏👏
It's in the description above 👆
I Can See My Credit Score Via Google Pay Is That Okay!
Yes, that's absolutely alright 👍
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....🤩🤩
6:36 is the answer 🙏🏾
06:35, that`s what is the ultimate truth.
he is the college senior bhaiya we all wanted but never got
Ab mein aagaya hoon deinfluencing army!
Mera 782 cibil score hain abhitak 800+ nahi hua even after following 4C's
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? 😁
Do onescore app provides soft check or hard check?
Checklist?
Hey, it's updated in the description above. Can you refresh once and check?
@4:38 - Yeh Abhishek to Memory supplement khilaayiye nahi toh mujhe apne videos mein lijiye!! Last to last video mein isko aapne Credit Card Debt Cycle and Apple Effect samjhaya tha.. 2 videos later he is saying “hogi kuch”! Bad student Abhishek! 😅😂
Very good!
Thank you 🙌
Thank You
Build algorithms
If i repay my loan in lump sum amt rather than in installment will it affect my cibil score??
What if someone doesn't use credit card or has never taken a loan. What should he do ? Is a credit score mandatory to get loan?
Yes. Get a card
782 CIBIL score
Awesome, Puneet! How did you get to this point?
@@Zero1byZerodha been tracking my credit score since day 1, also I was I think 19 or 20 when I tried to track my score n then I found out I did not have a score to begin with, so I went a little crazy and took a gold loan, this option may not be for everyone, and closed the loan in 1 year but in the process a credit score their for me, you can say I paid for my credit score🤣, anyways since then, I have used my credit cards to grow my credit score and even been through a bad credit debt phase as well, thankfully I am more mature because of it, even though I am still 22😎
Also I still have no effing clue why I wanted a credit score 🤣🤣
@@Zero1byZerodha ok so I was 19 or 20 when I tried checking for what my credit score was and obvsly I was a student with no loans so there was no credit score, so I went a little risky and took out a gold loan, with due permissions, relax readers, and viola, 1 year later closed the gold loan and got the credit score.
Technically it's a paid credit score 😂, anyways since then I have been researching n diligent and been through 1 bad debt trap phase as well and yeah that's a how I got 782 on cibil trans union and 788 on Experian.
Although I have no clue why I wanted a credit score in the 1st place 😂😂, it did help me get a pre approved credit card from hdfc 😎😎
@@Zero1byZerodha ok so I was 19 or 20 when I tried checking for what my credit score was and obvsly I was student with no loans so there was no credit score, so I went a little risky and took out a gold loan, with due permissions, relax readers, and viola, 1 year later closed the gold loan and got the credit score.
Technically it's a paid credit score 😂, anyways since then I have been researching n diligent and been through 1 bad debt trap phase as well and yeah that's a how I got 782 on cibil trans union and 788 on Experian.
Although I have no clue why I wanted a credit score in the 1st place 😂😂, it did help me get a pre approved credit card from hdfc 😎😎
10 day before? Why? if we pay on time is it not good?
After clicking on get your free cibil why does it ask for irrelevant details and asks to pay 118₹
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
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 %
I havnt taken any credit cards my cibil is 720 how can i take a credit card it requires little more cibil ryt
Credit scrore VS CIBIL score
If we utilised more than 40% and paid 10% off as soon as bill is generated will it count as 30% utilisation or 40%?
30%
Every bank has a different fixed date for that .
my credit score is 850. i am 21 right now
😮😮
That’s amazing! How did you pull it off? Would you like to share with us?
@@Zero1byZerodha i had got a credit card baised on fd when i was 18. I am not really spending money to have fun kind of guy. So over time the credit score went up. Right now i have 4 credit cards out of which only 1 is fd based and 3 are normal credit cards which aren't backed by fd
Where Is Checklist?
It's updated right there in the description 👆
I am yong and recently started earning why my credit score is too high even my family income is lower
You forgot to give link on how to check credit score😂😂
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.
Nice video
Good information
❤
How one should report to cibil for wrong credit score
Acha.. where can I check my credit score for real and legit?
I pay monthly expenses to credit card in advance then use credit card
Shabhash 👍
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.
"I have a loan that I am repaying regularly, but the bank hasn't updated this information with the credit bureau. Is there an email address where I can contact the bureaus to request a correction to my credit score?"
They update it every 1.5 to 2 months....are you checking it too early or it has been a few months?