Why Do I Have a Low Credit Score
A bad credit score can stand between you and a loan and it can make you pay a higher interest rate than usual. But, if you know what caused it, you can fix it.
Poor credit score reduces your odds of getting approved for a loan. It also means you’ll be getting less favorable deals. But, there are ways to improve your bad score. By understanding how it works, you can focus your efforts in the right direction.
1. What Is Considered a Low Credit Score
On a scale from 300-850, a bad credit score generally falls below 630. But, keep in mind that lenders define on their own what constitutes a bad score as they need to assess the kinds of risks they are willing to take in extending credit. Some lenders will choose to attend only those with an excellent credit score whereas others may specialize in lending to people with poor credit scores as they get to charge a higher rate for doing so.
2.Common Reasons for a Low Credit Score
By far the biggest factors that influence a low credit score are your payment history and credit utilization. Your credit history accounts for thirty-five percent of your credit score.
Being late or defaulting on payments
Being late or failing to meet your monthly obligations such as your Vectren utility bill damages your credit score. All it takes is being late with one single payment for you to risk harming your credit score. If you don’t pay your bills at all, a bad credit score is assured.
A charge off
Your account gets charged off when a creditor finds you do not intend to make the payments you owe and this status is extremely harmful to your score.
Defaulting on a loan
Defaulting on a loan affects your score in much the same way as a charge off. It basically says you are a credit risk.
Bankruptcy is the last resort because it is the most damaging to your credit score.
Just like a loan default, it shouts out loud that you are a high credit risk and shows a history of you not being able to keep up with your payments.
Creditors look at judgments because they show that the court system had to force you to pay your debt. Obviously, an unpaid judgment is much worse than a paid judgment.
3. How To Improve and Rebuid Your Credit
The good news is that your credit score is a snapshot of your finances. As your finances change, so does your score. Improving your credit score will take time, but the sooner you address the issues that are dragging it down, the faster it will go up. What you need is a good track record of meeting your obligations on time and the longer it is, the better.
Pay your bills on time
Even if you were behind, older late payments have less effect than more recent ones so make sure all your future bills, including loan repayments, are made on time.
Pay off debt and keep credit card balance low
The credit utilization ratio is another important number that contributed to your credit score: it adds all your credit card balances and divides that amount by your total credit limit. A low credit utilization ratio tells lenders you haven’t maxed out your credit cards which says you managing your credit well. Lenders typically like to see ratios lower than 30% as the ratio is very low for people with strong credit scores.
Apply for a new credit account only when necessary
Unnecessary credit can harm your credit score in multiple ways, from creating too many hard inquiries on your credit report to tempting you to overspend and therefore, accumulate debt. The act of applying for credit creates a hard inquiry on your credit report and too many hard inquiries can damage your credit score.
Dispute any inaccuracy
You should check your credit reports at all credit reporting bureaus. If you identify a mistake that could be dragging your score down, you need to get it corrected.
Keep in mind, a bad credit score doesn’t mean you’re a bad person. Credit is really just a tool, what gives you “bad” score depends on what you want it to do for you. But, if you want that loan or a good deal, you need to put in the effort and play by the rules that came up with the score in the first place.
How does a loyalty app help in building a loyal customer base?
In any kind of business, the essential aspect is your customers. If your business is able to maintain a loyal customer base, your business will keep growing. However, it is not easy to create a dedicated customer base. You will need to maintain certain things to ensure it.
It is possible to come across some factors that affect your business and take your customers away from you. Hence you must develop an in-depth understanding of your customers’ demands, which you can do by making or using a local loyalty app. Other than that, you must also understand the limitations of your own company.
There are many ways in which a loyalty app can help you develop and strong and loyal customer base for your business. The following points explain these ways:
If you want loyal consumers, you must find a way to maintain your connection with your customers. You can do that by creating an application that will be a platform for your customers to have easy access to the products, ask for help when they need and put reviews about the issues. It is a great way to ensure active interaction between the company and consumers. It will enhance the overall customer experience by making it easy for them to enjoy their benefits.
To grow your business, you have to provide good customer service to your consumers. Good customer service includes timely responses, polite communication, and a solution-oriented approach. Your focus should be on giving your customer proper satisfaction after investing in your products to be interested in investing more in the future. A loyalty app can help you provide good customer service by keeping track of feedback and requirements of your customers so that you can provide services and help when they need it.
If you are dedicated to taking your company to the top of the market just by focusing on defeating your competitors, then you will not be able to grow. Your approach should be customer-centric. You should think from your customers’ perspective so that you can meet their demands and requirements, which will automatically help your business grow in the market. This will help you develop a strong consumer base. You can use a loyalty app to make your products accessible to your customers, and you can also add more features to your app that makes the customer feel valued.
You must be consistent in your role towards your customers because that will help the consumers get in a pattern they will get comfortable with. For example, you create a local loyalty app, and using that app; you can get orders and deliver everyday products to your client’s doorstep. It is convenient customer service that matches well with your routine. Because of this, your customer will not think about purchasing the same things from somewhere else. This is the benefit of consistency.
A loyal customer remains with your brand because they will feel valued and rewarded after being dedicated to your brand for a long time. You can do this by providing weekend offers and loyalty discounts etc. According to a survey, 75% of people prefer companies that give away freebies and rewards to their customers. You can use reward styles like giving redeemable points on every purchase, yearly discounts, transactional discounts, etc.
All these points will help you develop a loyalty program and gain a loyal customer base for your business. You can do that with the help of an application or website.
What are the top 5 benefits of pursuing an executive MBA?
The world is growing at lightning-fast speed when it comes to business and technology. To keep up with the speed, many people take courses that offer them the latest knowledge and competitive salaries. Many students also prefer to start working at an early stage of their lives to become successful in the career they choose. However, it is never too late to opt for a career that you find flourishing. The most common course that goes with all kinds of fields of work is MBA.
MBA is a flexible course and can be pursued anytime, as it doesn’t have an age limit. It not only enhances your business skills but technological skills as well! However, many working professionals may find it difficult to pursue the course, as they might not be willing to give up their job for it. But there is nothing to worry, as an executive MBA has been introduced for them so that they don’t have to miss out on learning more while they are working.
Executive MBA is a part-time course that is flexible and is designed in a way wherein you can study without compromising on your work. Executive MBA has a lot of benefits. Here are 5 listed for you:
1. Become A Leader
MBA stands for ‘Masters in Business Administration; it means to manage. An executive MBA develops your management skills which help you ace the team-leading part of work. As you study, your strategic thinking is worked on. This enhances your skills in decision-making and makes you an effective leader.
It contributes so much to your confidence that you can think of establishing your own business.
2. Manage Anything And Everything
Pursuing an executive MBA enhances your management skills in general. As you may know, an MBA has many branches, and an executive MBA prepares you for all. You can upgrade your management skills without worrying about the branch, be it HR, marketing, finance, accounting, etc.
Because the course leads you to general level management, a person belonging to any field of work can pursue it.
3. Work And Study
An executive MBA is designed to keep your work in mind. The classes in this course are taken on weekends or in the evenings according to your convenience. This helps you focus on your work while you study effectively. Most working people are free during weekends, and the course is designed in a way that one can absorb information easily.
An executive MBA is flexible, and it can be taken up from anywhere, at any time.
4. Practice The Theory
The best thing about taking up an executive MBA is that whatever you learn during the course can be executed immediately in the job you are doing. Usually, students execute the knowledge grasped during the course once they graduate and get a job. An executive MBA is pursued while working, so it is any day an added advantage to your career.
5. Development Of Soft Skills
Soft skills are an essential part of management. When you are leading a team, you need to be clear in delivering messages and have a tone that engages the members. An executive MBA helps develop soft skills enhancing your management skills.
Management is not only about time and work management but developing empathy and listening skills too. An executive MBA can help you work on these skills effectively.
Career In Executive MBA
If you are a working professional and are planning to develop management skills, an executive MBA is a perfect choice. If you reside in Mumbai or are looking for an executive MBA course there, you can find the best colleges. One of the best business schools in Mumbai is the Universal Business School which offers an executive MBA for working professionals at two locations in Mumbai.
The course offers you specialization in various branches of MBA, like human resources, finance, marketing, and project management. You can choose between weekdays and weekends at your convenience. The course is designed by 3 B-schools, namely – Cardiff School of Management, IIM Indore, and UBS. And students get an option to either study at the IIM Indore Campus or Cardiff School of Management.
Here are the details of the course:
|Duration 1 year|
|Course PG Fees Rs. 4.5 Lacs|
● The candidate can submit only one application in a year
● Candidates must ensure that their application form is complete.
● The application, once submitted, becomes a confidential property of UBS and is not returnable.
● The candidate must ensure that all the information provided is accurate and authentic. ● Candidates can be asked to provide satisfactory verification of the information and documents submitted to the college. If a candidate fails to do so, the school reserves the right to withdraw any offer of admission already made and to terminate one’s status as a student.
Once your application is selected, you are invited to take a test/interview that is essential in assessing your eligibility for the course.
A minimum of 48 months of work experience is required to become eligible for the executive MBA program. However, candidates with lesser work experience can apply to the course too.
There are many MBA programs you can opt for; however, if you are a working professional, you may not be able to go for these full-time courses. An executive MBA comes as an excellent option in such cases. An executive MBA for working professionals not only enhances their management skills but also develops their leadership and soft skills.
If you are looking for the best executive MBA programs in Mumbai, there are a lot of opportunities. One of the best business schools in Mumbai is UBS (Universal Business School). It offers you an executive MBA program with a lot of added benefits. The program is designed according to the schedule of working professionals. You can easily choose between weekdays and weekend classes at your convenience. You can check out the details on the college’s website.
Leading Hotel Chains of India
India is a land of rich cultural heritage. India’s history is marked by the presence of different rulers who governed India according to their doctrines. The architecture, societal structure, food, dressing sense, etc. of most areas still have a deep connection to the tribes or cultures that were prevalent there in the past. India is also a very welcoming country. Guests are treated here with respect and a feeling of oneness instantly dawns upon any visitor as soon as they land in India. It is therefore understandable that the hospitality industry has a well-structured system that is spread across the country. Since a lot of tourists visit India to get a piece of its diverse cultural setup, the majority of the leading hotels and restaurants can be seen following a similar theme. For example, most hotels in Jaipur have a Rajputana-styled theme applied to them. Whereas, hotels, eating joints and shopping centers in Hyderabad reflect their Mughal roots. Every city in India has something different to offer. How much of it they can absorb depends on the appetite of the visitor. For most parts, tourists in India get more than what they bargain for. Assistance by the local governments, experienced locals, and the ever-entertaining tour guides make sure that travelers feel right while exploring India.
Hotels are the forerunners in representing India’s hospitality industry. It becomes an unsaid but understandable responsibility of a hotel to provide a good experience to the travelers. With the advent of technology, it has become relatively easier for both travelers and hoteliers alike, to connect before any bookings are made. It has also enabled households to enlist their houses on platforms like Airbnb to provide a more homely feel for the tourists. Many states like Himachal Pradesh and Uttarakhand which derive most of their economy from tourism have expanded their hotel industry at a rapid rate. That is because the tourism industry has seen an unprecedented rise in the past year. The major reason for that was the country-wide lockdown, which saw people being confined to their houses for most of 2020. Therefore, it was understandable that tourists flooded almost all the popular destinations once the lockdown was lifted. This called for an expansion of the current hotel set up in many places.
Since the hotel industry is booming right now, colleges that are offering hotel management courses are also witnessing a high influx of students. India has a large collection of colleges and universities that offer a wide range of courses in the hospitality industry such as BBA in hospitality management. Students can end up having a bright career in hospitality with hotel management colleges in Bhopal. Such courses are the future of studies where theory and practical knowledge are imparted at the same time. Therefore, by the end of the course, students are able to adapt to the corporate setup of a job in the hotel industry pretty quickly.
There are a lot of international hotels that have opened multiple branches in India. Other than that, concepts like OYO rooms are on the rise in the Indian hotel industry. Some of the leading hotel chains in India include:
Radisson: The Radisson chain of hotels is one of the largest in the world. They have a lot of branches spread all over India too. They operate under the name of Radisson Blu hotels and are one of the leading names in the hotel industry in India.
Lords Hotels and Resorts: Lords Hotels and resorts are a renowned brand in the hospitality industry. They have hotels located in all major Indian cities like Bengaluru, Jodhpur, Lucknow, Surat, etc. They are a leading name when it comes to hospitality and has a history of great service to cater to that claim.
ITC hotels: The banners for ITC hotels will probably be the first site that a visitor might see when he/she lands at all the major cities of India like Delhi, Mumbai, Bengaluru, Chennai, etc. Aggressive pricing and a 7-star setup for the guests is what makes the ITC chain of hotels a go-to name when it comes to lodging. The rooms are the gold standard, the food is amazing. But what brings customers back to ITC is the impeccable service that is provided when one is a guest at any of their hotels.
OYO rooms: OYO is not exactly a chain of hotels per se. However, it can be classified as a concept that has disrupted the hotel industry of India since its launch. With a lot of properties ranging from homestays to 5-stars hotels under its umbrella, OYO is a service provider where hotels sign-up to enlist their property. The customer can then view the hotels on the OYO app or website and can book them as per their need. Therefore, without owning a single property, OYO is one of the biggest names in the hotel industry of India. Its success can be attributed to the wide variety it offers its customers and a standard which all hotels have to abide by.
Taj Group: The Taj Group of hotels has a property at almost all the major business centers of India. It is a name that stands for luxury and quality. With a huge catalog of different room types, one can feel class and lavishness ooze out of the service that is provided to the guest at these hotels. The Taj group is also one of the oldest luxury hotel chains in India. One can feel the combination of cultural legacy clubbed with modernization at Taj hotels.
There are a lot of other chains that operate at the country level. With the passage of time, the hotel industry is evolving as well. A huge change has taken place in the hospitality field in the past 20 years. With traveling becoming more than just a hobby for the generation to come, one can hope that positive things are in store for the future of this business.
8 Tips On How To Get Clients As A Freelance Developer
The great art of finding and, more importantly, having a constant flow of clients for a freelancer can be challenging. Most of the time, a year may seem flooded with projects for a few months or no projects at all for others. More importantly, developers selling their services need a mental zone that focuses on providing value rather than a soulless service to potential clients. It is essential to build long-term work relationships. In this article, we’ll look forward to the eight tips on how to get more and more clients as freelance developers.
1. Work for open source projects
Most developers who build a freelance career initially start by working on open source projects. This is a great way to make valuable connections with other freelancers or industry experts. Open source projects accept contributions from anyone with the necessary skillset in development languages and software knowledge. The best way to build a community of freelancers is by contributing to open-source projects on GitHub. For example, if you are a developer and passionate about building web applications, you can contribute to any existing open project on GitHub. This will help you create a community that can help get more clients and build a personal brand for yourself. In addition, this is a great way to build a network of freelancers and experts who can be tapped for projects in the future.
2. Pick a niche
3. Build a portfolio
If you are a freelancer, you must have a portfolio that showcases your skills and expertise. A portfolio is a collection of your work, including your projects, side projects, and any other work that you have done over the years. Not only does it have the same effect as a resume or CV, but it will also help your client know where your interest as a developer lies and will put him in a better position to gauge your work for that particular role. To build a portfolio, you first want to start by looking into the projects you have worked on, list your clients, technical expertise, certifications, etc. You may also shoot a mail to each of your clients one by one, asking for testimonials on their experience working with you. The last step is to design all this content and put it in one place, more like a website.
4. Be where your customer goes
You will have a much better chance of getting more clients if you actively build a presence for yourself on all the major social media platforms. You will also want to make sure that you are constantly posting relevant and engaging content beneficial for your audience. This will increase your online presence and help you build a network of professional connections that can be tapped for future projects. Any client will always do their research before deciding to work with you. They will want to know your expertise, and having a solid social media presence can increase your chances of closing the deal.
5. Content marketing
If you are a developer and want to generate more leads for your business, you should consider investing in a content marketing strategy. This is a great way to build a community of passionate fans willing to help you with your business. The first thing you need to do is identify a niche that interests you and then start building content around it. You need to take advantage of all the available resources to you as a content creator that can be done through various strategies. To start with, you need to write content in the form of micro and macro blogging, email marketing, guest posting, video blogging, etc., regularly that is useful for your audience. The key is to find what works best for you and build a system that can be adjusted to generate more leads.
6. Create accounts on job posting platforms
Another great way of having a steady flow of projects is to work with freelancing job sites like Upwork or Freelancer. Each of these sites has its advantages and disadvantages. Upwork is a platform that specializes exclusively in freelancing, while Freelancer is a site that specializes in jobs that are related to software development. Having an account on these platforms can be overwhelming. You may feel like there are an unlimited amount of projects to bid on. However, this is not true. It would be best if you were very selective and only bid on projects you truly want to work on. To keep yourself in high demand, the projects you bid on should be exclusive and based on your skills.
7. Sign up with networking events
If you are a software developer, you should consider signing up for online events related to your industry. The best part about these events is that they allow you to meet many new people. Through these interactions, you will be able to build a network of like-minded people that can help you crack more deals in the future. In addition, most of these events have many attendees from the freelancing industry also looking for potential work opportunities. Interacting with them will help you do a SWOT analysis for yourself and identify the areas you need to improve on.
8. Partner with other freelancers or agencies
It is also a good idea to partner with agencies or companies related to your field of expertise. By doing this, you can access a wide range of projects that you otherwise may not be able to close independently. You may find that your work is more varied and so the chance to find clients is greater. In this form of collaboration, you can split the responsibility of a project and share the profit generated. The more people you collaborate with, the more tasks you can secure.
It is important to note that having a steady workflow as a freelance developer is not easy. You need to stay focused and work hard to achieve your goals. If you follow the tips mentioned above, you will be well on your way to building a solid freelancing business.
Knowing the risk factors in the trading profession
Everyone knows trading involves a high level of risk. Still, the number of retail traders is increasing at an exponential rate. People join the trading industry with great expectations that they will secure their financial freedom within a short time. But if you do the proper data analysis, you will realize trading is not an easy task. In fact, you will become frustrated with your previous actions. So, how should we trade the market to ensure a consistent profit? Well, we have to be very cautious about the risk factors.
In this content, we will share some powerful tips which will allow you to reduce the risk factors in the trading profession. Most importantly, it will make you a skilled trader within a short time.
Uncertainty in the market
As a new trader, you need to understand nothing is certain in this world. If you wish to become a professional trader, you must follow the core rules of trading. For instance, you should not be expecting to win a big amount of money from a certain trade. Even after doing the in-depth data analysis, you might have to lose a big portion of the capital in the trading profession. Once you get aware of uncertainty factors, you will stop trading the market with high risk. Thus you will make more money in the investment industry.
Trade with discipline
To reduce the risk factor, you have to trade the market with discipline. Breaking the core rules of trading and trying to make a big profit in the retail trading industry is one of the key reasons for which people are losing money in the investment business. Feel free to visit this page and learn more about the importance of the trading discipline. Some novice traders think that they can break the rules and make a big profit in the retail trading industry. But this is not how the trading industry works. If you want to succeed in the retail trading business, you must follow some written rules.
Trade with low risk
Smart traders never trade the market with high risk. They know the fact, they might have to lose a big portion of their trading capital at any moment. That’s why the maximum risk they take per trade is only 2% of their account balance. If you wish to succeed in the retail trading industry, you must follow some core rules and take your trades in a very organized way. Once you do that, you will realize trading is not a tough task. In fact, you will become much more confident with your actions, and thus making a regular profit in the investment industry is going to be an easy task.
Rely on low leverage account
You should always rely on the low leverage trading account to protect your capital. If you trade the market with a high leverage trading account, chances are high that you will be losing money most of the time. If you wish to become good at trading, you must learn to take the trades with strong discipline. Never expect that you will become a profitable trader with the help of a high leverage trading account. In fact, a high leverage trading account is another key reason for which people lose their trading capital.
Find a great broker
Do you know the importance of trading the market with a professional broker? If not, you might be trading the market with the low-end broker. You need to trade with a premium broker to ensure the safety of your trading capital. If you rely on low-end brokers, you will face many technical problems and thus you will be losing money most of the time. Never expect that you will become a profitable trader within a short time. Take your time and learn to evaluate your risk profile in a very strategic way. And have faith in your trading system no matter how many trades you lose in the market.