Credit Advisory/Credit+ Service

To avail Paisabazaar’s Credit Advisory service, you just need to log in to your account and click on ‘Schedule a Call”. Once you have logged in to your account, you will be redirected to the page where you can see your credit score. You will shortly receive a call from one of our expert advisors, at your convenience or agreed time.

Credit reports/scores are prepared by Credit Bureaus that collect, maintain, and organize the credit information of every individual. These bureaus collect your financial information from the lenders to prepare your credit report and provide the same to lenders when you apply for any credit product. There are four credit bureaus in India, namely, TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. All these bureaus follow a unique scoring algorithm to calculate your credit score and your prospective lender may reach any of them to obtain your credit rating.

Your credit score is one of the most important factors considered while processing your loan or credit card application. A low credit score means poor credit history, which makes a strong case for rejection of your application for the lender. Those with low credit scores are either turned down by lenders or charged a high rate of interest for any credit product.

If your credit report displays an ‘NA’ remark, that means you have never availed any kind of loan or used a credit card. And since you have never taken credit, you do not have a credit report.  To generate a credit report, you will need to avail a credit product, like a credit card or a loan.

Once you start using a credit builder product, it would usually take 60 to 180 days for your first credit report to be generated. Do remember, generating a credit report is just the first step, what is more important is to take the necessary action to build your score over time.

The first step to building a high credit score is to understand what leads to a low score, and then take necessary action. Once you make good credit behaviour a habit, your score will gradually improve. The time taken for your score to improve will depend on your credit profile, and lender and will also vary from bureau to bureau. Overall, it should take around 90 days for significant improvements to your credit score.

Paisabazaar’s Credit Advisory service assists customers in building a high credit score. Once a consumer decides to avail this service, our team of trained credit experts analyse the consumer’s credit report. After a thorough review, an expert calls the consumer at a convenient time and explains each factor in his credit report, the exact reasons for his/her credit score, and the necessary steps and products needed to build this score. Any new or existing customer with a low or no credit score/history can avail credit advisory services.

Do not worry, in case you are unable to talk to our advisor, you shall again receive a call from the same advisor in a short period.