Technology has been advancing at a rapid pace. Nothing can be called as a latest feature post a couple of months. Everyone is innovating and bringing out the best features in gadgets and smart phones. But these innovations come at a cost.

Affording a high end smart phone is not possible for everyone. But if you really want to own that phone, there are Banks and NBFCs that provide you with credit facility in the form of a personal loan and a credit card. These facilities can be availed on the basis of your credibility which is decided via your credit score. Hence it is very important to maintain a good credit score.

You can maintain a good credit score by timely paying off your credit card bills and repaying off your personal loan EMI. But how can a smart phone purchase help you improve your credibility?  There are 2 ways of doing this;

Using a credit card: You can purchase a smart phone using a credit card. You can also choose the EMI option (3 months to 24 months). There will be interest charged on the EMI amount. When you pay off the EMI on time until the tenure is complete, your credit scores increase.

Using a personal loan: You can opt for a personal loan for a short term. Using that amount, you can purchase a smart phone. You will have to repay off the loan EMI every month until the tenure is complete. If you do not default on any repayment, that helps in bettering your credit score.

Maintaining a good credit score is of prime importance. If you can keep a healthy credit profile, the lenders in the market can provide you with lower rate of interest on any loans. They can also waive off certain fees and penalty charges. Hence you can use this method to better your credit score.

You can head over to our website and understand the process to apply for a credit card and a personal loan.