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. […]
Many people are unaware that getting approved for a loan and the applicable interest rate at which they get the loan are dependent on many factors other than the regular income or repayment capacity. One of the key factors banks look at before they sanction a loan is the credit score. Your credit score, which […]
Today , having a high credit score is considered essential in order to get new credit and many people put a lot of effort in managing their scores in a better way. However, many times, willingly or unwillingly, we make mistakes that can negatively impact our credit score. Even worse, in many cases, we do […]
