CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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Is your Credit Score >750?
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.
Responded by:Responded on25th May 2015
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.
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application