Making a credit card will not be easy! Banks are tightening rules, credit score will also be seen

Credit scarred from this card will not be made

Credit scarred from this card will not be made

Till now, where banks used to issue credit cards even when 700 credit score is available, now this score will be 780. After the Kavid epidemic, banks are considering the methods to be adopted to reduce their unsecured debt, under which this decision has been taken.

New Delhi. By now, even though you will have many bank branches coming to you, Sir our bank is offering you a free credit card and in a few days your card will be made. Such calls may not come in future. This is because it will not be easy to get a credit card in future. Banks are tightening their rules about this. Now credit scare will also be seen before making the card. If the CIBIL score is bad then forget that the bank will make your credit card.

Credit scarred from this card will not be made
Banks have decided that now they will increase the rating of credit scar for making credit cards. Till now, banks used to issue credit cards even at 700 credit scores. At the same time, now the Scar 780 Only then you will be able to get credit card facility. In fact, past-funded banks are considering ways and means to reduce their unsecured debt. This decision has been taken under this. According to a private banker, The rules for issuing credit cards have been tightened so that they only Given this facility Those who have good credit score. This means that credit card payment will be timely, because it means that good scarcity means that all payments are being made on time.

Read also – Bank Strike: The strike will continue till March 16 in these government banks of the country, including SBI, know why …

Banks themselves increasing credit score
Between March and December last year, the credit card outstanding pool increased by 4.6 percent. In the same period of the year 2019, it was 17.5 percent. During March and August 2020, six months of maratarium in the lain payment At that time, outcasting of credit cards also increased by 0.14 percent. Pankaj Bansal, chief business development officer of Bank Bazaar.com, says that banks were ready to make your credit card in view of the scarcity of your credit card till last year. At the same time, this year will not happen now. Some banks are increasing this scar in their own way.

Due to the Covid-19, the bad credit of SBI credit card reached 4.29 percent. However, by December 2020, banks were successful in bringing it to 1.61 per cent. Experts say that banks are not only demanding high credit scores but also in certain areas like airlines and other sectors. Special cards to be issued by professionals are also avoided. This is because since the Kavid had the most influence in these sectors. At the same time, during pendemic, the credit limit is also being increased by those who will bring the same line and credit card payment on time without delay. Along with this, the bankers who are paying the loan regularly, are also giving the loan against the credit card.



Leave a Reply

Your email address will not be published. Required fields are marked *