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Is your Credit Score >750?
Get answers to commonly asked questions related to the credit score and credit reports
The Credit Score and Report section is aimed at addressing frequently asked questions on credit score, credit reports and how it impacts your loan and credit card eligibility. It is aimed at helping you understand your credit history and any issues which impact your credit score.
A credit score is provided by credit bureaus. The credit bureaus are CIBIL™, Equifax, Experian and Highmark™. In India, amongst the bureaus, CIBIL™ is more commonly known since they have been around in India for a long period of time. Lenders such as banks and NBFCs use the credit score (be it CIBIL™ score, Equifax Score or Experian score) to value the potential risk posed by every customer. Lenders use this credit score to determine who is eligible to avail loans and credit limits.
Your credit score is a 3 digit number and the credit score ranges between 300-900. Generally 750 is considered the best score. If you don’t have a credit history, your credit score will be a no-hit or NH.It usually takes 18-36 months to build your credit history.
What is a Credit Score or Credit Rating?
Who issues a credit score or credit rating?
What is considered a good credit score? How is my score computed?
If I have a good credit score, will I surely get a loan or credit card?
Relation between creditscore and loan-eligibility
Can errors in reporting cause a bad credit score?
What if I never had a credit card or loan before? Will I have a credit score?
What is Defaulter or Negative List?
What causes negative or bad credit history?
Will a default from many years ago impact me even today?
Is it possible to improve my Credit Score?
How long will it take to improve my Credit Score?
If I close all my old issues by paying in full to my banks, will my Credit Score increase immediately?
Your credit score directly impacts your ability to obtain a credit card, buy a car or home, rent an apartment, or even get a new job. Knowing how to read your credit Report, correcting falsely reported information and ensuring accuracy of your credit report are in your best interests.
If you are applying for a loan or a credit card, banks check your credit score to view your credit worthiness. It is advisable that you check your credit score before approaching the lender to avoid the risk of rejection. Keep in mind, rejection of a loan application only knocks down your credit score by a few points.
CreditMantri helps you understand the status of your credit health. You can upload a credit report and we provide an online analysis. If you don’t have your credit report handy, we have tied up with Equifax to offer you a free credit score online. At CreditMantri, we offer a free score and ap free credit health check.
This credit report analysis by CreditMantri helps you improve your credit score and history, discover loans and credit cards best matched to your credit profile and helps reduce EMI and borrowing costs.
If you have a low credit score, banks and NBFC’s will probably reject your loans or credit card applications. So, in order to get a loan approved, you must improve your credit score. Following are some of the ways you can adopt to improve your credit score:
Usefulness of information,Credit Report Analysis,
Credit Report Analysis,Usefulness of information,
Credit Report Analysis,Website/app interface,Call Experience,good and fast process
Credit Report Analysis,Execellent app
Get loans starting from 11.25% interest rate
Know how to improve credit score
FREE credit analysis for 1 year
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