A good credit record works in your favour

Apr 22, 2012 - Harsh Roongta

I am working in a telecom company and my salary is Rs 20,000 per month. I want to take a credit card and will use it in case of emergencies only. I am also planning to take a home loan in two-to-three years from now. Will the usage of credit card lead to to problems in getting a home loan?

A good credit record will definitely help in procuring the home loan. Make sure you pay off 100 per cent of the amount due every month on time so that you do not pay high interest on outstanding dues of the credit card. The payment of dues on time helps in creating a good credit record and will also help you when you apply for loan.

(Harsh Roongta is the CEO of Apnapaisa.com. You can send in your queries to moving-money@deccanmail.com)

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