Credit Score Blogs

The credit card lifecycle has different phases. One of the important components to take into consideration as a user is the billing cycle. Every credit card comes with a billing cycle – some for 30 days, others for 28 days – depending on the issuer offering the credit card.  Understanding this is crucial, as failing …

A credit score is one of the most reliable financial indicators that can assess an individual’s creditworthiness. The Equifax ePORT portal helps lenders, like NBFCs and banks, access any individual’s credit data. It also provides borrowers’ credit histories.  It is an online one-stop portal with vast access to individual credit data. This portal contributes to …

Paytm Postpaid is an easy option to get instant access to credit. It provides you the convenience of buying now and paying later when paying bills, financing travel expenses, grocery shopping and more. This facility works like a credit card and gives you up to ₹60,000.  It is important to note that it can impact …

You can access your CRIF High Mark free credit report to ensure details of your credit history are accurate. This assures smooth access to credit cards and other forms of credit. Inaccuracies and errors in your credit report can hinder this process. These include: It is best practice to check your credit report occasionally to …

An ECN in a CIBIL report is a key component that helps lenders track your credit history before extending an offer. Since your credit card and loan offers depend on many eligibility parameters, the first thing banks and NBFCs check is your credit report. This gives them accurate information about your behaviour towards credit repayment.  …

To calculate the CIBIL score, TransUnion CIBIL assesses many factors that have a direct impact on credit health. This score is also a reflection of your ability to handle the borrowed amount and repay it on time. As such, financial institutions give it a lot of importance and weightage when assessing your applications. Knowing how …

Worried whether your CIBIL score reduces every time you check it or the lenders check it? It’s a common question since you may be keeping a tab on your score from time to time to assess your creditworthiness.  Apart from you, banks, NBFCs and other financial institutions may also be running a check if you’re …

A CIBIL score is a 3-digit number that ranges between 300-900, with 900 being the highest. This score is used by lenders and financial institutions to determine the creditworthiness of an individual before approving any loan or credit card application. A CIBIL score of -1 is not bad. It just means you don’t have a …

Credit control is an essential part of the lending process, used by all financial institutions to mitigate the risk of extending credit. Under this strategy, financial institutions lend funds only to applicants with good credit behaviour and scores. Doing this helps them manage cash flow and the risk of default. To implement this strategy, lenders …

A credit bureau plays the critical role of collecting and analysing the financial data needed to generate your credit report and score. This is the simplest answer to the question, “What is a credit bureau?”, and four bureaus are operating under the RBI’s guidelines.  These credit bureaus have different methods to calculate your score, and …