Paisabazaar.com’s CPO Radhika Binani explains how one can track one’s credit score and build it over time.
Increased dependence on borrowed money to finance our needs and desires, has increased the importance of Credit Score. A good Credit Score not only makes it easy for you to raise loans but also get them at lower interest rates.
One of the most important aspects of your financial life is your Credit Score. Your score is a 3-digit number, built on the basis of how you have behaved with your past credit or how efficiently have you paid back loans.
As many banks offer preferential car loan interest rates to their existing customers, first check out with your existing bank for such offers and then visit online lending marketplaces to compare them with the rates offered by other lenders.
Awareness about your credit score and constantly trying to build it is imperative for EVERYONE! Unfortunately for those who need loans now but have a poor credit score have very little choices.