Credit score is a rating ranging from 300 to 700 which defines your credit worthiness. This is considered as your first impression to the bank to know whether you are credit worthy or not. This is very important parameter when you decide to borrow money from any bank or financial institution. It shows whether you will repay the loan on time or not. If you have a good repayment history, then your credit score should be good. Credit Score has a direct impact on your eligibility to take loans from the market.
Good Credit score plays an important role in approval of your loan application. Hight credit score also expedites the loan approval process and quick money disbursal process.
Here are few things that you can do to improve your credit score:
- Pay your EMIs/ Bills on time
- Check Credit report
- Check Credit Card balance and cancel all the cards which are not in use
- Manage your credit cards, set reminders for Due Date
- Do not apply for loan applications in a short span of time
- In case of no credit history, borrow a small personal loan and make timely repayments
Credit Report is a detailed report which highlights credit history and its complete record. It has details like personal details, Contact Details, Employment details, credit limit and credit balances etc. It is very important for you to check your report and understand it thoroughly and see if you need to work on your score to improve your credit worthiness.
Below actors affect your score:
- Your Income
- Existing Debts
- Past Repayment History
- Loan Rejections
- Delay / Non-Payment of your loans
Access to your credit report is now become easy with us.
You can check your personalized credit health report with us in simple steps. Get your free Credit Score NOW by clicking at 1kx.in/Ht1Ib8