What is a credit card and what is CIBIL score?

Question

Accepted Answer

A credit card is a payment card issued by a financial institution that allows the cardholder to borrow funds for purchases.

Credit cards are a convenient form of payment that allows users to make purchases and pay for them later.
They provide a line of credit, which is essentially a loan from the issuing bank.
Cardholders can use credit cards to make purchases online, in stores, or over the phone.
Credit cards often come with rewards programs, such as cashback or travel points.
CIBIL score is a credit score used in India to assess the creditworthiness of individuals and businesses.
It is provided by the Credit Information Bureau (India) Limited (CIBIL).
CIBIL score ranges from 300 to 900, with a higher score indicating better creditworthiness.
Lenders use CIBIL scores to evaluate the risk of lending money to borrowers.
A good CIBIL score increases the chances of getting approved for loans or credit cards at favorable terms.

Accepted Answer

Cibil scores are the history for their finances for each individual on that basis he gets loans or credit card or any big decision of finances by banks or finance companies

Accepted Answer

Credit card is a instrument provide by a banks for give a credit line for the user for a certain intrest free period.

What is a credit card and what is CIBIL score?

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