Today, almost every mobile user knows and uses WhatsApp. From being an instant messaging application, WhatsApp has diversified largely by making our daily tasks and social networking activities look lively and more interesting. WhatsApp has further enhanced by expanding their reach in providing business solutions to its customers and companies worldwide.
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Paisabazaar.com Joins Hands with WhatsApp
Paisabazaar.com, India’s largest loans and card marketplace announced the integration of its services on WhatsApp Business. Post this integration, Paisabazaar will be able to communicate with its customers regarding any update or information related to their customers’ credit scores. Through WhatsApp Business, customers will now be able to receive free and updated monthly credit score/report on their smartphones, tabs, laptops and desktops.
Recently, WhatsApp crossed more than 200 million active users in India. Considering the rise in the volume of mobile users and consumers in India, this integration with WhatsApp will help Paisabazaar by making it simple and easier for their customers in keeping a quick check on their credit score and also make them build their score to avail additional benefits for their near future and financial security.
“As a business, it’s critical to align itself with the evolving lifestyles of customers. Today, WhatsApp is an integral part of our lives, and offers a great opportunity for the financial services industry, at large, to make the whole process around the purchase of financial products like loans, credit cards, mutual funds or insurance extremely convenient for the end consumer. At Paisabazaar.com, we plan to use WhatsApp to enhance and deepen our engagement with our customers,” said Naveen Kukreja, CEO & Co-founder, Paisabazaar.com.
Paisabazaar is also planning to integrate their other financial products, including mutual funds, loans and credit cards to make things simpler and easy-to-access for their customers. But first let’s get some basic idea about Credit Score and ways to improve it.
Credit score is a 3-digit numeric that represents the creditworthiness and repayment capability of an individual. Credit score ranges from 300-900, wherein score above 750 and close to 900 is considered good. Good credit score helps in quick sanctioning of loan at lower interest rates and also helps in issuance of best available credit cards with more benefits. Below mentioned are the ways to improve your credit score and factors that negatively impact your credit score:
Steps to improve your credit score
- Paying off all debts and loan EMIs on time
- Periodic or regular checking of credit report
- Maintaining healthy mix of credit
- Avoiding multiple loan or credit card applications
- Lowering credit utilization ration (30%-40%)
- Avoiding credit hungry behavior
Factors that Negatively Impact Your Credit Score
- Faulty or Erroneous credit report
- Default or delayed loan EMIs payment
- Bad repayment history
- Delayed or Missed credit card payments
- High credit utilization ratio
- Multiple or frequent loan applications
- Numerous unsecured loans
Also Know: How to repair your faulty credit report?
Hence, by following these simple steps and suggestions, consumers can easily maintain and even build their credit score. Therefore, Paisabazaar, with its latest integration on WhatsApp will be providing free credit score to its customers on his/her smartphones so that they can keep a track of their credit score.
Paisabazaar is India’s largest loans and cards marketplace that helps customers to check, compare and choose from multiple financial products offered by our partner banks and NBFCs. Paisabazaar.com is a part of Policybazaar Group which is India’s largest insurance aggregator. The company offers 200+ financial products and works with 90+ partners, including banks, NBFCs (Non-Banking Financial Institutions) and mutual fund houses.
Paisabazaar offers credit scores from two renowned credit bureaus out of four named, TransUnion CIBIL and Experian India. The other two renowned credit bureaus are Equifax and CRIF High Mark. All these four credit bureaus generate and provide credit scores to millions of customers worldwide. TransUnion CIBIL and Experian generates credit scores with the help of their complex algorithm and with the financial date provided to them by all leading financial institutions like banks, NBFCs, Governments and (NGOs) Non-Government Organizations.
For any further query or assistance you can directly reach us at our Toll free no: 18002088877, email us at firstname.lastname@example.org or can simply visit paisabazaar.com (one-stop destination) for all your banking and financial requirements.