Credit rating is still a developing concept in India with the first Indian credit rating bureau, CIBIL being just a decade old. The CIBIL credit report and score was introduced to banks in November 2007 and in April 2011 this facility was made available to the individuals. CIBIL also known as CIBIL TransUnion is among […]
Credit score is one of the first terms that people get acquainted with when they start learning the basics of personal financing. It is an important term that everyone should know about as this 3-digit score holds the power to influence lenders in your favour when you apply for a loan. Though having a […]
Your credit score is one of the biggest indictors of your financial health. Unfortunately, awareness around the concept of credit score and the critical importance it holds in one’s life is low in India. Even those who know about Credit Score often ignore or undermine it. Your Credit Score represents your financial trustworthiness and it […]
Getting a loan or credit card today depends on the contents of one key document – the credit report. This document is compiled by credit bureaus based on data received from lenders across India and provides insight into how you have handled debt in the form of credit cards and loans in the past. […]
For the common man, credit scores and credit reports are elusive concepts. Most people do not understand the requirement, let alone the basis for calculating the credit score. This has led to a number of half-truths and sometimes, outright misinformation about what a credit score is and how banks and financial institutions use this score. […]
Myths of any kind can be dangerous, and those related to financial health are no different. Credit score is one of the biggest measures of financial health. Being misinformed about your credit score can cost you dearly and badly impact your financial health. So, debunk the myths to manage your credit score: MYTH 1: […]
A great man once said that the greatest enemy of knowledge is not ignorance; it is the illusion of knowledge. Like some people live in an illusion that no credit history will keep them in excellent credit score range. While it may seem logical to them as they never took a loan from a bank […]
Credit score is a three-digit score of your creditworthiness, on the basis of which lenders evaluate your loan, credit card application and their interest rates. Credit bureaus rate you on a scale of 300-900 as per your financial track record; any score below750 usually decreases your chances of getting a loan or leads to higher interest rates. […]
