FAQ Section with Commonly Asked Questions and Clear, Concise Answers for our Users:
Q.1. What is a Credit Score?
A. A credit score is a numerical representation of your creditworthiness. It is based on your credit history and helps lenders assess the risk of lending to you. A higher credit score increases your chances of getting loans and credit cards with better terms.
Credit score varies between 300 to 900.
Q.2. How is a Credit Score Calculated?
A. A credit score is calculated based on several factors, including your payment history, amounts owed, length of credit history, types of credit used, and recent credit inquiries. Each factor contributes differently, with payment history and credit utilization having the largest impact.
Q.3. How Can I Improve My Credit Score?
A. To improve your credit score, ensure you pay your bills on time, reduce outstanding debt, maintain a low credit utilization ratio, avoid applying for too many new accounts in a short time, and regularly check your credit report for errors.
Q.4. What Are the Benefits of a Credit Card?
A. Credit cards offer various benefits such as cashback, reward points, travel perks, fraud protection, and building credit history. They also provide flexibility in managing payments through credit limits and interest-free periods.
Q.5. What is a Demat Account?
A. A demat account is used to hold shares and securities in electronic form. It allows for easy and secure trading of stocks, bonds, and mutual funds without dealing with physical certificates. It’s essential for anyone investing in the stock market.
Q.6. How Do I Apply for a Credit Card?
A. You can apply for a credit card by visiting the bank’s website or visiting a branch. The process typically requires filling out an application form, submitting identity, income, and address proof, and passing the bank’s eligibility criteria, such as credit score and income level.
Q.7. What Are the Eligibility Criteria for a Credit Card?
A. Eligibility for a credit card depends on factors like age (usually 18 or above), a regular source of income, and a good credit score. Each bank or issuer may have specific requirements.
Q.8. What Fees Are Associated with Credit Cards?
A. Credit card fees may include an annual fee, late payment fees, cash withdrawal charges, and foreign transaction fees. Some cards also offer a waiver on the annual fee if you meet a minimum spending requirement.
Q.9. What’s the Difference Between a Savings Account and a Demat Account?
A. A savings account is used to deposit and withdraw money, earning interest on your balance, while a demat account is used to hold shares and securities electronically for trading purposes.
Q.10. What Finite-Perks offers as Reward?
A. Finite-Perks offers you a Gift Card or Cashback up to ₹500 Reward on each successful lead.
Q.11. What Are Gift Cards?
A. Gift cards are prepaid cards issued by companies that can be used as a form of payment at designated stores or online platforms. They make great rewards and gifts as they allow recipients to choose what they want to purchase.
Q.12. What is the minimum withdrawal of Reward on Finite-Perks?
A. Minimum withdrawal on Finite-Perks is started from ₹1.
Q.13. How you redeem your Reward?
A. Fill Finite-Perks Reward Claiming Form with genuine details and our team transfer reward money in your registered UPI I'd Or Gift Card on email with in 3-4weeks.
Q.14. What is the criteria to claim reward?
A. Firstly, Open your Savings, Demat Account Or Apply for Credit Card, Loan, Credit Line, etc. and after your Account is open successfully through Finite-Perks website you submit the Reward Claiming Form and you will be rewarded.
Q.15. What Amount we give you as Reward?
A. We give different amount of Reward on every successful lead up to ₹500.
