Uni NX Wave - A myth or reality | Lets discuss

[BhaiyaJi]

What do you think will they launch their NX Wave? Maybe they are waiting for next covid wave 🤣

 

[SSV]

@SSV is it true that a secured credit card is better for credit score?

Secured loan is definitely adds a favourable scenario in the element of “ mix of loans” criteria but in my observation unfortunately only Home loan made any real big positive difference. All other secured loans such as gold loans or against FD etc didn’t make any difference..
May be if you have quite significant number of these secured accounts then it might have mattered. One or two secured cc, gold loans,or loan against FD won’t matter much

 

[sjmajumder]

Secured loan is definitely adds a favourable scenario in the element of “ mix of loans” criteria but in my observation unfortunately only Home loan made any real big positive difference. All other secured loans such as gold loans or against FD etc didn’t to make any difference..
May be if you have quite significant number of these secured accounts then it might have mattered. One or two secured cc, gold loans,or loan against FD won’t matter much

Thanks for the insight bro!

So, I have written to Uni to correct the CIBIL entry within 30 days.

 

[sjmajumder]

Secured loan is definitely adds a favourable scenario in the element of “ mix of loans” criteria but in my observation unfortunately only Home loan made any real big positive difference. All other secured loans such as gold loans or against FD etc didn’t to make any difference..

Just my perspective - a home loan usually signifies a significant step towards financial stability because it represents an asset that can appreciate in value over time indicating a reliable source of wealth and a more secure financial position. Whereas a gold loan or loan against FD etc. usually signifies that one's financial condition is undergoing some turmoil. And hence the said effects on credit score.

 

[anonymuos]

Secured card only helps build a credit score when one doesn't have a credit score/credit history. Once you get a secured card, it becomes harder to get unsecured credit cards from the same bank. And other banks may also look at the CIBIL and deny their unsecured cards.