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Aug 22 β€’ 10 tweets β€’ 2 min read β€’ Read on X
🚨 5 Credit Score Myths That Are Costing Indians LAKHS!

95% of Indians believe these lies about CIBIL scores. The last one will shock you!

Let's bust these myths that banks don't want you to know πŸ‘‡
MYTH #1: Higher Salary = Higher Credit Score ❌

REALITY: Your income has ZERO direct impact on your credit score

A person earning β‚Ή25,000 with a perfect payment history will have a better score than someone earning β‚Ή2 lakhs who defaults on EMIs!

Credit score = Credit behavior, NOT bank balance πŸ’‘
MYTH #2: Checking Your Credit Score Hurts It ❌

REALITY: Checking your OWN score is a "soft inquiry" - it's 100% FREE and doesn't affect your score

Only when LENDERS check (hard inquiry) it might drop 1-5 points temporarily.

Check monthly = Smart financial habit! βœ…
MYTH #3: Closing Old Credit Cards Improves Your Score ❌

REALITY: This is FINANCIAL SUICIDE! πŸ’€

Closing cards:
Increases your utilization ratio
Shortens credit history
Reduces available credit

Keep old cards active, even if you don't use them much
MYTH #4: Settlement vs Paid in Full - Same Thing ❌

REALITY: HUGE difference for your financial future!

"Paid in Full" = Hero status with lenders βœ…
"Settled" = Red flag for 7 years ❌
Banks prefer borrowers who honor full commitments. Settlement = higher interest rates on future loans!
MYTH #5: Zero Credit History is Better Than Bad Credit ❌

REALITY: No credit = No trust with lenders

Banks need to see HOW you handle credit, not IF you avoid it.

Start small
Get a basic credit card
Pay in full monthly

Build positive history gradually πŸ“ˆ
πŸ’° THE REAL COST:

Believing these myths costs Indians:

Higher loan interest rates (2-5% extra)

Loan rejections

Lower credit limits

A 750+ score vs 650 score = β‚Ή2-5 LAKH savings on a home loan
🎯 QUICK ACTION PLAN:

βœ… Check score monthly (free!)(I personally use gpay)
βœ… Keep utilization below 30%
βœ… Never miss EMI/credit card payments
βœ… Keep old cards active
βœ… Mix of secured/unsecured credit
Knowledge = Money in your pocket! πŸ’°
Found this helpful? πŸ”„ RT to save someone from these costly mistakes!

Follow @CardsavvyIndia for more credit card secrets that banks don't want you to know

What credit myth fooled you the longest? Comment below! πŸ‘‡
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More from @CardsavvyIndia

Aug 17
🧡 After my last thread went viral, I’ve been flooded with questions! Here’s your complete guide to the Yes Bank Kiwi RuPay Credit Card β€” from cashback tiers to real user tips . Let’s dive in! πŸ‘‡ Image
πŸš€ The Kiwi card is a Lifetime Free RuPay credit card by Yes Bank, tailor-made for UPI lovers. Scan & pay anywhere with UPI, and get credit-card-style cashback on every transaction. No annual fees. Ever.
πŸ’Έ 1.5% base cashback on all UPI spends (minimum β‚Ή100 txn)
πŸ’³ 0.5% on non-UPI spends (POS, e-commerce)
Great for everyday small transactions at vendors, tea stalls, groceries! πŸ›’
Read 10 tweets
Aug 16
🧡 UPI Credit Cards have EXPLODED!

From just 7-8 cards to 70+ options in 2 years! πŸ“ˆ

Here are the TOP 5 UPI credit cards that actually give you REAL cashback on every QR scan πŸ”₯

Thread with exact benefits & which one to pick πŸ‘‡
πŸš€ UPI CREDIT CARD REVOLUTION:

πŸ’‘ Game Changer: Pay via UPI, get credit card rewards
🎯 Perfect For: Daily spends at local shops, vendors, restaurants
⚑ Why Now: Every merchant accepts UPI, finally get rewards!
The future of payments is here! πŸ“±
πŸ† #1 KIWI CREDIT CARD - UPI King

πŸ’° Up to 5% cashback on every UPI QR payment!
πŸ’³ Cost: Lifetime Free + β‚Ή999/year Neon membership
🎯 Milestone System:
β‚Ή50k spend: 3% cashback + lounge access
β‚Ή1L spend: 4% cashback + 2 lounge visits
β‚Ή1.5L spend: 5% cashback + 3 lounge visits
Read 11 tweets

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