Category: Credit Score

More than 25% consumers in India have their credit scores below 700 making it difficult for them to avail various credit products. It may not be easy for everyone to understand the credit report and figure out issues that may have impacted their credit score over time. To help them understand their credit report better,…

Maintaining a healthy credit score is a crucial financial habit, but is often ignored. This lack of awareness, coupled with poor credit behaviour, leads to a poor credit score, which can have serious repercussions on your financial future. As lenders consider credit score as one of the key deciding factors while processing your application for…

An individual’s credit score depicts how one has handled credit in the past. Based on an individual’s past credit behaviour, which includes factors such as timely repayment of EMIs and credit card bills, as well as the number of credit enquiries made, a credit score is assigned. Lenders check your credit score before providing you…

When you apply for a loan or credit card, the lender requests your credit report from a credit bureau. Apart from your credit score, the lender analyses your detailed credit report to assess the risk of approving your credit application. This is done especially in the case of unsecured credit, such as personal loans or…

Your name and photograph are the most important details mentioned in your proof of identity. Even though your photograph may get updated from time to time, there are rare occasions when you have to change your name or correct the spelling. But when you change your name, add or modify your surname after marriage or...

All information regarding your credit history is mentioned in your credit report. Lenders assess your credit report at the time of credit approval. A credit report portraying the disciplined credit behaviour of a borrower will contain a high credit score. This not only increases the trust of the lender but also makes it more convenient…

Lenders and credit card providers check your credit report before approving or rejecting your credit application. A good credit score and a clean credit report can make it easy for you to get your application approved, whereas a low credit score occurring because of numerous negative items in the credit report can make it difficult...

An error in your credit report can seriously damage your credit score. It can eventually impact your creditworthiness and affect your loan and credit card approval in future. A timely intervention can help rectify these errors and maintain a high credit score. Let us understand errors that can be present in a credit report, how…

Pre-approved offers for personal loans and credit cards come with easier processes, zero or minimal documentation and quick disbursals - usually on the same day. Pre-approved offers are usually given by Banks to their select consumers or by lenders to consumers with a strong credit score. Your credit score (scored out of 900) reflects your...

When you take a loan or a credit card, you have to pay off all dues on time. Any default or missed payment can significantly damage your credit score, whereas timely repayments help maintain your high credit score. When you are unable to pay off your dues for more than 90 days, the bank marks...