Earn Money From Your Credit Card

Rewards

A credit card is a cashless mode of payment instrument that helps you to take care of your daily expenses, repeating expenses, and sometimes occasional expenses. This gives you the liberty to enjoy interest-free periods of 45 to 50 days. It can also be used for offline payments and online payments. a credit card user is supposed to pay the bill after 21 to 25 days from the date of bill generation but the user can also pay it before the due date to maintain a good credit score, one should avoid paying credit card bills after the due date

What is a credit score and how to Calculate it?

A credit score is a mathematical representation of one’s credit worthiness. It helps in calculation of your ability to pay back the amount you have borrowed. A person’s credit score usually ranges from 300-900, and the one with the highest score is considered to be a trustworthy applicant. always try to reach the highest in range as it becomes very beneficial at the time of applying for a loan or a credit card. whereas, if you have a low score or you fall in lower range this displays you are an irresponsible loan applicant and have not made timely payments of your loans/dues.

How it is calculated?

payment history – 35% of your credit score is calculated on the basis of your payment history. 

how much you owe – about 30% of your credit score depends upon how much you owe on loans and credit cards.

credit history length – the length of your credit history is accountable for 15% of your credit score. 

how many products you have – the products (types of loans) that you have is responsible for the 10% of your credit score

credit activity – remaining 10% depends on your recent credit activities.

How to pay credit card bill without missing the due date.

When it comes to paying a credit card bill on time, CRED is your ultimate solution. CRED offers an easy and quick payment process to make credit card bill payments. you can make payment using a debit card, net banking, or via UPI.
all you have to do is follow these simple steps-

1. go to the credit card payment option
2. select the credit card you want to initiate payment for
3. enter the bill amount
4. click on ‘proceed’
5. choose the payment option i.e., UPI, debit card, or net banking
6. proceed with the payment