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Updated by IndiaLends on Oct 19, 2020
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How To Achieve A Good Credit Score

Learn how to achieve a good credit score and reach the credit peak with IndiaLends.

How To Achieve A Good Credit Score

Achieving a good credit score is essential if you care about your overall financial health. When you have good credit, you increase your qualification odds for credit cards and receive some of the best interest rates on various credit products. Learn how to achieve a good credit score and reach the credit peak with IndiaLends.

Buy now pay later with Line of credit

Different people have different reasons to apply for a LOC. So, if you are having a good credit score, you can easily get a Line of Credit to deal with any kind of financial emergency be it paying off medical bills, education fees, home renovation, or any other unpredictable expenses. Line of Credit linked up with your bank account which you can withdraw and pay back money from your bank account within a stipulated period.

Significance of the CIBIL score in getting great loan offers

A good CIBIL score is a way to get higher creditworthiness through responsible past credit behavior and a good repayment track record. It indicates reduced default risk for the lender. The credit score is not the only criterion to determine the person’s ability to secure a personal loan, it is one of the first things that lenders take into consideration to evaluate all forms of credit applications. Here we explain the importance of CIBIL score in detail.

Check your credit score and improve your credit

Your credit score is arguably the most important number in your financial life, and these days it is easier to check than ever. Checking your credit report and score is important when you apply for any loan or credit card. It helps you to know your creditworthiness. Read here the process of how you can check it online.

Minimum CIBIL Score for a Personal Loan

Credit rating is one of the most important eligibility criteria while availing loans online. It is one of the things which will be checked by the lender while evaluating your loan application to know your creditworthiness. Here you can learn about the importance of having a minimum credit score and how you can check it online for free.

Everything You Need To Know About Your CIBIL Score

Your CIBIL score is an important factor that lenders look at while evaluating a loan application. During this time, the lender will check your creditworthiness and the loan amount you are eligible for based on certain parameters such as current liabilities and your past credit history. Your creditworthiness is quantified with the help of a CIBIL score. Your CIBIL score ranges from 300 to 900 and the higher your score, the better are your chances of getting a loan approved.

Ways to Improve Your Credit Score

Your credit score is one of the most important measures of your financial health. It tells lenders at a glance how responsibly you use credit. The higher your scores, the more likely you are to qualify for loans and credit cards at the most favorable terms, which will save you money. Going this route could simplify bill payments and improve your credit score if it results in a history of on-time payments.

Myths About Credit Score And Credit Report

A credit report contains information about your personal details, credit history, bill payment details, account transactions, and much more. While your Credit Score is an important piece of information on the credit report, it is not the only thing that one needs to check in a report. Just like how bad financial habits can lead to a poor credit score, good practices such as paying bills on time, etc. can improve your credit score.

Check Your Free Credit Score by CRIF High Mark

CRIF High Mark is one of the leading credit bureaus in India. The credit score gives an idea about a person’s creditworthiness and the probability of the person defaulting within the next 12 months. A high credit score is an indicator that the individual is less likely to default. Check your latest High Mark Credit Score online for free in India. Sign up today to get your free CRIF Credit Report.

Significance of CIBIL Score for a home loan

Lenders make use of the CIBIL score to determine whether you are eligible for a home loan. They perform a credit inquiry to check the same. The best CIBIL score for a home loan is anything above 750. When you are applying for a home loan, a 750 credit score is considered satisfactory for any secured and unsecured credit.

Boost up your credit score: Open the door for the best credit deals

Due to low credit score, if you are facing drawbacks for getting approved for loans, credit cards, or low- interest rates, you might wonder how to improve your credit score. Here are ways following which you can build up your credit score at a faster pace.

Why your credit score is important

Your credit history plays an important role while applying for any credit product such as credit cards or loans. With its help, financial institutions evaluate the creditworthiness of the borrowers and decide whether to lend or not. Learn here how important it is to maintain a healthy credit score to get instant approval on your credit applications.

How Long It Take To Improve Credit Score

Improving your credit score is not an overnight process, it requires both time and patience. There is no easy way to improve or repair your credit score. If you are planning to apply for a loan, it is best to check your score well in advance so that if it is low, you have enough time to improve it before sending in your loan application. Check out how long does it take to improve your credit score and quick tips to boost your credit score.

All you need to know about Highmark credit score

It is a three-digit number that gives a bank or a lender a sense of your creditworthiness. If the credit score is good, then the lender understands that you have used loans or credit cards in the past and have repaid all the dues properly and regularly. HighMark credit score generally ranges between 300–900. 300 is the lowest score indicating poor credit score and 900 is the highest score possible. A score above 700 is generally considered good.

Reasons for Loan Rejection Other Than Credit Score

Your credit score plays a very important role in deciding your creditworthiness. On the other hand, if you don’t have an optimum credit score, then no lender would be willing to lend you because they doubt your ability to repay back. It helps lenders to decide whether to approve your credit application or not. Know the reason for loan rejection other than credit score.

Significance of the best Credit Report

A Credit Report keeps a record of all the credit activities performed by an individual or an organization. Here the lender finds information about the loan applicant starting from the first credit availed till the last payment of credit dues. Banks and NBFCs make use of the Credit Report to determine the creditworthiness of credit applicants. Read here in detail what makes the credit report the best.

Significance of CIBIL Score in today's world

A CIBIL Score is one of the major criteria that helps lending institutions to evaluate your creditworthiness. Based on this factor, they decide whether to process your loan application or not. Learn here its importance and the benefits you will have if you have maintained a good credit or CIBIL score.