Increased credit card usage – Is it good or bad?
Use Your Credit Card Wisely !
Have you received advice from people, asking you not to use credit cards? This is because most of us are irresponsible while swiping that piece of plastic and end up in huge debt after. How would you like it if we told you – use your credit card with responsibility and you will be at a better advantage than using a debit card. What’s more! You will have almost zero cash transactions. Who uses cash in today’s digital age, right?
Credilio is here to help you understand why credit card is king and how to best use them strategically.
Would you like a welcome gift with every new credit? Well, here is some good news for you, if you have a good credit score you can be eligible for gifts and rewards worth ₹ 5,000 or more, on the condition that you spend a specific amount within a fixed number of …
The Digital Lending Distribution Landscape – Tier 2 and Tier 3 Cities in India
The Indian lending landscape has changed drastically over the years due to the rapid adoption of digitization in the BFSI industry in tier 2 and tier 3 cities. While the traditional form of lending still prevails in many parts of the country, the benefits provided by the digital solution providers are increasingly paving the way for the adoption of digital lending solutions and services across the enterprises.
In recent times, the Indian market has witnessed an exponential surge in demand for short-term loans related to purchases and spending in tier 2 and tier 3 cities. This can be ascertained from the fact that around 11 Mn credit cards were issued in India in the last financial year (April 2021 – March 2022). The number of credit cards in India are growing at a compounded annual rate of 24% (2013-2019) as credit-based purchases become more common even in semi-urban areas.
India’s lending space is witnessing a tech-tonic shift with …