How to Get Credit Cards with Bad Credit?

The Truth About Credit Cards

Credit cards are one of the most convenient modern financial tools. it makes it easy to purchase your favorite items now and pay for them later. Once considered a luxury, credit cards have now become a necessity. India is a fast-growing market for credit cards with millions of citizens already holding at least one credit card and actively using it. The boost for the digital economy is another contributing factor to the increase in the issue and use of credit cards.

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What is bad credit?

There are many credit rating or scoring agencies in India which provide the credit score of any person upon subscription or even free at cost. These credit-rating agencies review the financial history of the person to compute the three-digit numerical score, known as a credit score.

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What are the causes of bad credit?

The credit score, as mentioned above, is the barometer of the sound financial health of a person. This credit score can be hampered by many instances that reduce the credit score and deem the person to be a bad candidate for any loans or credit cards.

Bad credit history or credit score is a result of poor management of your credit. It could be due to any of the following reasons

Late payments on your loans and credit cards

Missed payments/defaults on your loans and credit cards

Foreclosure

Written-off or settled account

Too many hard inquiries