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When you max out on your credit cards, you have an excellent solution: debt settlement. You can relieve yourself of the burden without having to pay a lot of greens. 

Debt settlement companies work with you and negotiate with your creditors on your behalf. They can reduce or eliminate your debt by offering to make a lump-sum payment at once. You may deposit this amount in an escrow-type account until you collect enough savings. The creditor accepts this credit card debt settlement amount in place of what you owe. 

The process seems simple enough, but choosing the right debt relief company is crucial. Also, there are so many myths surrounding the topic. So, here are the top 3. 

Myth #1. You can easily cut your credit card balance in half.

Some sketchy companies may promise you that anyone can get their debt waived off. But that is just not the case. Competent companies can tell if your situation qualifies you for the program.

There are certain reasons allowed by the law, such as financial hardships, pink slips, and divorce. You may even face severe medical issues that don’t allow you to make the monthly payments. Or, you may bury yourself in a vicious cycle of borrowing habits. In such cases, you can be eligible for a credit card debt settlement. 

Your creditor will not reduce your debt if they think you can pay off the debt. They should understand that you have a legitimate financial difficulty. 

Myth #2. Your spouse’s debt merges with yours when you get married.

You may have joint savings accounts after you get married, and take out a loan or a credit card. Or, your spouse may add your name on a promissory note when taking a loan. Only then, your spouse’s bad credit may affect yours. 

But from the time you get married, you will not be automatically responsible for their debt. Merging of debts incurred before the marriage does not happen. There is no legal obligation that you should settle your lawfully wedded partner’s liability. However, a divorce decree will not remove your ex from the joint account. You have to approach the creditor individually. Otherwise, their lousy credit practices show up on your credit report. 

Myth #3. The debt settlement company will take a substantial amount of fee upfront.

Per the Federal Trade Commission rule, you don’t have to pay advance fees to debt settlement companies. They usually take a percentage of the amount from the debt that got eliminated. You can pay this fee after they reduce your credit card debt.

Your debt relief company also doesn’t control your money. The money that you save towards the lump-sum amount stays in a secure financial institution. You own the funds and any interest accrued on the money before the job is complete.

Now that you understand the common financial myths, it is time to choose the right company. Beware of spurious companies that offer you unbelievable guarantees.

Red Flags While Choosing a Credit Card Debt Settlement Company

  • They may promise to make you 100% free of your unsecured debt.
  • They guarantee that the debt settlement will prevent lawsuits.
  • They say that they have a new, government-approved program.
  • They ask to pay fees upfront or charge a penalty when you withdraw from their service.
  • They insist that you stop interacting with your creditors.
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Nowadays, credit cards are a convenient way of managing finances as it allows you to purchase the products even when you do not have enough cash and pay that amount later on a particular date. In addition to that, the majority of the credit cards offer amazing rewards that make them worth using for transactions. Hence, it is quite difficult to find the best credit cards in India as there’s a lot of competition.

There are various types of credit cards that you can find in India. The two most popular of them are Airline credit card and Cashback credit card. Many people tend to get confused between them and end up taking the wrong car. Having said that, they are not able to enjoy the complete benefit of their selected card. Picking the best credit card in India is not rocket science as you just need to keep a few factors in mind and you are good to go. When it comes to rewards, both of them have their own advantages. There are several advantages of using credit cards and if used properly, they can prove to be the best substitute for most of the payment modes.

Select the most suitable credit card and enjoy the rewards. SOURCE:

Airline credit card

If you are someone who travels frequently for any purpose then an airline credit card will be the best credit card in India for you. Even if the miles are limited, you would still be able to churn out a lot of rewards and perks if you travel a lot. The miles generated in this credit are almost the same if compared to the cashback credit card. However, you can get amazing sign-up bonuses, which mostly include extra miles. These extra miles can be further redeemed into coupons where you can get amazing discounts on flight tickets and hotel bookings.

However, when it comes to airline credit cards, most of the benefits will be limited to airline facilities. As you will not be able to use this credit card anywhere else such as in gas stations or shopping complex. This happens because the airline credit card is linked to a specific airline company and they only allow the users to take advantage of their sponsor companies. Nonetheless, airline credit cards come with various other advantages such as it allows you to upgrade your seats absolutely free of cost, get access to airport lounges, priority boarding and even waived baggage fees. However, the benefits mentioned above can only be found on specific cards and not on a general travel credit card. Make sure to compare different companies and get the best credit card in India.

Cashback credit card

When it comes to cashback credit card, the user gets to enjoy a great deal of flexibility. As mentioned above, in the case of an airline credit card, you can only spend it on things related to airlines. On the other hand, you can use a cashback credit card pretty much everywhere. Here, you get the option to spend your money even on almost all sorts of purchases including travels. However, the major disadvantage of a cashback credit card is the high-interest rates. You are not getting the perks for free as you need to pay a high-interest rate in order to get access to them. Getting back to the benefits, the cash reward can go up to five per cent of the total transaction. In addition to that, there are some credit card companies who tend to offer double perks if you are making a transaction in any of the partner merchandise.

The reward offered by a cashback credit card is nothing but a statement credit, which can satisfy a part of expenses generated via monthly purchases. When it comes to getting cash benefits, the user needs to reach a particular limit in order to enjoy them. The limit varies from card to card.

Both types of credit cards have their own pros and cons. With the brief comparison of the two, it must be clear for you to choose the best credit card in India. Before opting for any credit card, you should always make sure to check the fees charged by the company. In many cases, the company can also apply a few hidden charges. Hence, it is advised to check each and every detail and then apply for it. Comparing both these types of card and telling which one is better can be difficult and depends entirely on an individual’s spending habits. However, with proper knowledge of the features and respective benefits, you can make a clearer choice on which card suits your lifestyle better. There are various credit card companies present in India so you should always compare different credit cards before choosing one as you might get better perks by paying the same fees and at the same interest rate. 

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The value of having a high credit score is indispensable when it comes to availing a loan approval. The higher is an intending borrower’s credit score, the better is their scope of availing a loan from the borrower. Most lenders choose to offer the loan to a borrower whose credit score is high; it becomes essential for a loan applicant to increase their credit score as much as possible. Make sure you keep an eye on your credit score in case anything strange happens.

How to increase credit score?

A lot of factors tend to play an influential role on a borrower’s credit score. A score ranging from 750-900 is deemed excellent and is looked at as an ideal score to avail quick loan approval.

But before a borrower considers how to increase credit score, they should first become aware of their existing credit score by running a quick check online. 

The following highlights how you can use a credit card to improve your credit score –

    • Paying bills on time: A borrower’s payment history is proof of how well they can pay off their debt. Having a diligent payment record tends to influence a borrower’s credit score in a positive way. Borrowers should make an attempt to clear their credit card bills, loans and dues on time to avoid ‘negative information’ on their credit report for a term of seven years.


  • Restrict the need for opening new credit accounts: Contrary to popular beliefs, opening a new account to create a better credit mix does little to improve a borrower’s credit score. In fact, some look at it as potential harm on credit score. Piling on new credit accounts creates ‘hard inquiry’ on borrowers’ credit report, and it also increases the temptation to overspend, resulting in additional debt.


The Bajaj Finserv RBL Bank SuperCard is one such credit cards that offer galore of facilities to the cardholders that do not give rise to the need to open a new credit account. Also, cardholders can avail interest-free ATM cash withdrawal up to 90 days.

They also provide pre-approved offers to simplify the process to avail these cards and to reduce the time required. These offers are valid on a plethora of financial products and services including home loans, business loans, personal loans and more. You can check out your pre-approved offer by providing a few necessary details.


  • Clear debts and maintain low balances on credit cards: Besides clearing outstanding dues, a cardholder should also try to maintain a low balance on their credit card to enhance their credit score and credit utilisation ratio. Both credit score and credit utilisation ratio (current debt divided by credit limit) is vital when it comes to availing a loan. A low credit utilisation ratio indicates that the borrower has not maxed out their credit card yet and is equipped at managing their credit in a better way. 
  • Factor in utility payments: Using a credit card to pay off utility bills is looked at as an effective way of enhancing one’s credit history. Since the debt incurred through utility expenses is lighter than most debt, it allows borrowers to pay them off quickly With Bajaj credit card payment option; cardholders will be able to build a positive credit record and enhance their credit score. 
  • Maintaining unused credit cards: If your unused credit card is not costing you in terms of annual fees, you may want to hold on to it. Closing a credit account may increase one’s credit utilisation ratio but then owing the same amount, but under fewer open accounts may lower their credit score. 


Besides these, making cash purchases instead of paying for things on credit will also serve as a potent answer for how to increase credit score. Through timely repayment of debt and handling cash and credit transactions responsibly, borrowers can enhance their credit score. Know how to choose the right credit card for yourself and apply for its straightaway.

Your credit score impacts every aspect of your life, including some you may not be aware of. You already know that a poor credit score will boost the interest rate on your car loan, but having bad credit could increase your auto insurance premiums as well.

With so much on the line, it is vital to keep your credit score in good repair. If your credit has been damaged, fast action can help you mitigate the damage, so you can start to rebuild your finances and reclaim your good name. Best of all, you do not have to pay a credit repair company to do the work.

Here, Underground Elephant, a company dedicated to taking the mystery out of car insurance by offering tips and tricks for lowering your car insurance payment and providing a personal quote comparison tool from the nation’s top providers, reveals some simple things you can do to rebuild your damaged credit fast.

 Apply for a Secured Credit Card

A secured credit card looks the same as a regular one, but it works a bit differently. Since the secured card is tied to a bank account, you cannot overspend or exceed your limit. Best of all, payments to a secured card can help you rebuild your damaged credit.

Since the issuer assumes virtually no risk when issuing a secured credit card, these cards are easy to get, even if your credit is less than perfect. A secured credit card is also a good entry point into the world of credit – think of it as training wheels for building a good credit score.

Become an Authorized User on Someone Else’s Card

If you do not want to get your own credit card, you can boost your score by becoming an authorized user on someone else’s. Becoming an authorized user on a parent’s credit card, for instance, can help young people build credit – or repair a damaged credit score.

You may need to convince the other party to sign you up since any missteps on your part will reflect poorly on their own credit score. You will also want to closely oversee your spending when using the card to make sure there are no issues.

Pay Down Your Debt

The amount of credit you are using plays a significant role in determining your credit, so paying down debt is one of the fastest ways to improve your standing. Paying down your debt will also reduce the burden of interest payments and help you save more money.

It is not easy to pay down those credit card balances, especially when interest charges keep accumulating. Focusing on the cards with the highest interest rates will give you the most bang for your buck, and you can work your way down from there.

If you are a student, consider applying for scholarships such as the Underground Elephant scholarship, which offers $1,000 to a student who is a safe driver and is working to make a difference in their community.

Keep Your Old Accounts Open

Even if you are no longer using them, resist the urge to close those old credit card accounts. Longevity is an important factor in determining your credit score, and closing longstanding accounts could have a negative impact.

You do not have to use those old credit cards, or even keep them in your possession. There is no law against cutting up old credit cards while keeping the accounts open.

Your credit score is an important part of your financial life, one that should not be underestimated or dismissed. If your credit score is lower than it should be, it is time to take action, starting with the simple strategies outlined above.


Credit repair companies do a fast process and helps yield great results if you do not have the time to do the credit repair process yourself. It is a simple process to get yourself involved in the credit repair service and then all you have to do is sit back and relax while the company does the job for you. There are many people in the world who do not have enough time to give to their credit related issues and it’s okay to not be able to do so. There are good credit repair Miami services available if you live in Miami.

High credit scores have a lot of good perks that you can make use of. High credit scores help you get approved of financing and other great things. By the simple processes of removing any late fee, collections, charge-offs, repossessions, foreclosures, judgments, etc. Can help you maintain a good credit score and save you a lot of money.

What is credit repair?

Credit repair is a simple process of fixing poor credit scores that may be deteriorating for a lot of reasons. Repairing your credit scores can be a simple task as well as a complicated task depending upon the issues that your credit scores are taking hit for. For example if your credit has taken an issue of identity theft, and then whatever the damage has been incurred may require extensive credit repair work to be done on the credit score. But at the same time if the damage is minimal like fundamental financial issues, such as budgeting and other things then the work might not take too much effort.

How to ensure good credit reports?

Credit repair requires legal as well as financial expertise. There are numerous businesses that have risen up since the past few years that give the word that they can do your credit repair. While the companies that are providing these services may provide them in a way that may assist customers but the real results of the efforts can be questioned largely. Depending upon the extent of the problem most of the issues related to credit repair might just require some cleaning up and then the job can be done but in much advanced cases a professional intervention is needed.

Though many companies claim that they can get the work done super-fast, the cleaning up of the credits can take some time and effort. The details that are cited to a credit report company can’t be removed by a third party. There can be some enormous reports that may need fixing and may appear on the credit reports. The details if misread can pose a problem for the company and if made out to be inaccurate can be disputed. Credit repair companies may investigate such cases but so can the individual. Individuals are granted free credit reports for 12 months by the credit reporting agencies that are in charge of the reporting of the credit scores.

Business often needs finance to run the day to day operations, and for future expansions. No matter how healthy and profitable your business is, it might require finance for different purposes. Most of the businesses will opt for business loans and will rely heavily on them. But, most of them don’t know that business line of credit is a much better option than business loans. A business line of credit is much more flexible than the business loans. While business loans are fixed, business lines of credit have a set limit. The best part is you have to pay interest only for the part you have borrowed from the assigned limit, unlike the business loans where you need to pay interest for the complete amount. You can just draw funds from the assigned limit, and repay as per your wish. This is much more convenient for business. The only drawback is one can withdraw funds till the assigned limit. You can compare the business line of credit to credit cards, which has pre-defined limits, and one can avail funds till that limit. So, if you are worried about managing your cash flow, maintaining inventory, unplanned expenses, a business line of credit could be the best option for you.

If it is a new business without any detailed credit history, then you can opt for an unsecured business line of credit. For a new business, it takes some time to build business credit fast. New businesses often end up in securing business loan based on some guarantee, and at a much higher rate. In this case, an unsecured business line of credit could be the best option. In fact, it is a much-required option for the new businesses, as they need finance for business expansions and sometimes even to run the day to day operations. So, if you are an aspiring entrepreneur or a new business owner, you might be often declined business loans without any collateral. In this case, you can simply opt for an unsecured business line of credit without any requirement of collateral. This is also a good option for small businesses. The unsecured business line of credit enables quick money, with a much lower rate of interest. One can get quick funding through this. It would not be wrong to say they it acts as a kind of insurance for the small as well as new enterprises. This definitely has less risk in comparison to the normal business loans. Unsecured business loans operate in the same way as revolving credit. Moreover, you can obtain through an NBC without any minimum FICO score, minimum annual revenue, minimum time in business and more importantly no collateral. However, if the credit score is good, one gets a higher credit limit. But, a definitely good credit score is not a mandatory requirement. As per industry practices, it has been seen most of the lenders prefer credit score of 500 for an unsecured business loan. This varies from one lender to another, and many of them do provide an unsecured business line of credit without any credit score as well. Some of them also prefer an annual revenue of $50,000. But even this is not mandatory as well, and many lenders do lend without considering the annual revenue.

Some of the best business lines of credit providers are, Lending Club, StreetShares, OnDeck, Kabbage and Lendio. Most of them provide credit limit up to $300,000 based on the type of the business, credit score and business performance. Also, all these providers provide an unsecured business line of credit till $100,000 without any form of collateral. You can just check each of these lenders, and select the one which suits your requirement. One should always check if prepayment fees are there or not, along with the repayment period before entering into an agreement with the lender.