in-card Post your Answers

What are the factors impacting my credit score?

in-card Responses

A good credit score is essential because a person’s credit worthiness is represented by it and also it determines the probability of getting a loan in the future.

Therefore it is very important to know the factors that impact it. Credit scores are affected by the factors listed below: 1) Repayment history - All bills and loan repayment should have been repaid within the contractual dates stipulated. Even a single default can have a negative impact on the score. 2) Credit utilization - The credit utilization ratio is basically calculated on the balance outstanding on all your credit cards as a percentage of all your credit card’s limits. 3) Length of your credit history - Longer the time you have been servicing credit, the more it has a positive impact on your credit score. 4)New Credit - Every time you apply for a new credit, the banks run an enquiry on your credit report. If there are too many enquires it may have a negative impact on your credit score. 5)Mix of credit - There should be a healthy mix of credit – unsecured & secured loans, personal, mortgage loans etc..

Check your Free Credit Score Online

As part of our efforts to make the end consumer services affordable and available at price points which are favourable to the customer, CreditMantri may receive fees / commissions from lenders.

CreditMantri ™ is a registered trademark of CreditMantri Finserve Private Limited. All Rights Reserved. Product name, logo, brands, and other trademarks featured or referred to within Credit Mantri are the property of their respective trademark holders.

CreditMantri was created to help you take charge of your credit health and help you make better borrowing decisions. We support customers with every kind of credit profile - those who are new to credit and have a minimal or nonexistent record; those who have a problematic history; and those who already enjoy a healthy profile. If you are looking for credit, we will make sure you find it, and ensure that it is the best possible match for you. How do we help you? We enable you to obtain your credit score instantly, online, real time. We get your Credit Score online and provide a free Credit Health Analysis of your CIBIL or Equifax report. Based on the analysis, we help you discover loans and credit cards best suited for your credit profile. We help you understand your Credit Profile, Credit Information Report (CIR) and know where you stand. We are a one-stop shop for all your credit needs. We make it easy for you to browse through and compare the various financial products on offer on the market; access our free and user-friendly online tools; and finally, enjoy a stress-free application process with quick approvals. We ensure that you have a better shot at getting an approval for a loan or credit card you apply since we match the lender’s criteria to your credit profile. We help you avoid loan rejection by carefully determining your eligibility and matching you with the right lender/product. We achieve this with a cutting edge combination of data science and technology that ensures that both lenders and borrowers have a transparent common platform to make their decisions. We treat your data with the utmost confidentiality and will never share or sell it to anyone. That is our CreditMantri guarantee. Our dedicated and best-in-class customer service will go the extra mile (or two) to support you on every step of your credit journey. Our 1 Million happy customers are our best testimonial.

CreditMantri is India’s No. 1 site for Credit Analysis and Free Credit Score Online. Let us help you take control of your credit goals and unlock the door to your financial freedom.