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Is your Credit Score >750?
Get answers to commonly asked questions related to the credit score and credit reports
The simple answer is, ‘Yes’. Even a single payment default stays on your credit report for many years. Every time you delay or miss a loan or credit card payment, the lender reports it to the credit bureau/s and it is noted on your credit report. It can take several years (generally up to 7 years) for the default to drop off your report.
Repayment history is a heavily weighted factor in your credit score and can form up to a third of your score. Thus every single repayment has implications for your credit score.
It is vital not to default on any payments, but if you feel that you will not be able to pay your EMIs/ credit card bill on time, talk to your lender about your financial situation and negotiate a restructured payment plan that is mutually acceptable.
Apart from payment defaults, other negative marks also stay on a credit report for a long period of time. The following can also adversely affect your credit score:
The best thing you can do is to make an effort to pay off your old loans that you have defaulted on so that you can change the account from ‘Written Off’ or ‘Settled’ status (which have a negative impact on your credit score), to a ‘Closed’ status. Talk to your lender about a plan to repay any past loan/card obligation you have defaulted on, that takes into account your current ability to pay.
Make sure that once you have paid off your loan in full, that the new status is reflected in your credit report. Sometimes, due to administrative error, the old negative status continues to appear in your report and unnecessarily drags down your score.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
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