Basics of Credit

Let's begin by saying that understanding credit is very important.

You may have already taken credit or will need to, at some time – in the form of education, auto or home loans or credit cards.


Do you know, however, how lenders evaluate your loan or card applications? Or if your application will get approved?


Or do you simply need some help to manage your Credit Card account safely?


When you buy something today and pay for it later, you have just taken Credit.
Simply put, credit can help you get the things you want when you don't have enough cash.

Credit Card

Your credit card is a form of credit - a substitute for money in the form of a plastic card enabling you to buy now but pay later.

  • You can use them to make purchases in millions of places, both in store or online.
  • You can also use credit cards for balance transfers and taking out cash from an ATM.
  • And if you need money for an emergency or unforeseen expenditure, you don't have to apply for loans at the eleventh hour – you already carry one in the form of a credit card.

Secured Credit Card

The ICICI Bank Instant Credit Card is a secured credit card, i.e it is issued against the security of a Fixed Deposit. It is an excellent choice to help you begin building a good credit score.

Credit Score

Your credit score is a number that indicates to lenders how "credit worthy" you are.

  • It is calculated using records of how well you are repaying or have repaid any credit.
  • Most lenders provide repayment information to credit reference agencies or credit bureaus (CIBIL in India) which calculate and maintain your credit score.
  • This score is used for decisions on whether to lend further to you, without which, it is difficult for lenders to know whether you will repay your borrowing on time.

Learn More

We have attempted to put together a series of easy-to-follow tutorials for your convenience Read them now or download as PDF to access later.


Credit basics Read more | Download PDF
Credit Dictionary Read more | Download PDF
Using Credit responsibly Read more | Download PDF
Keeping charges in check Read more | Download PDF
Safeguarding your account Read more | Download PDF
Easy payment options Read more | Download PDF
Reading your credit card statement Read more | Download PDF
How to Build Credit Score Read more | Download PDF
How to maintain Credit Score Read more | Download PDF
How to track credit score Read more | Download PDF
Reading your Credit Information Report Read more | Download PDF