When you fall ill, you are advised to see a doctor. Similarly, when your credit score is not in good health, it is recommended to see a credit counsellor. Credit counselling is likely to have a range of effects on your CIBIL score, based on your individual financial situation and how you make use of these … Read more
The CIBIL score requirements for unsecured loans vary from banks to banks and depend on a range of factors such as current employment, income, existing loans, and the credit history. There is no denying the fact that banks tend to lend to borrowers who have good to excellent credit scores for unsecured loans. This is … Read more
Taking a mortgage and managing it in a responsible way can improve your CIBIL score. By raising a home loan or taking a loan against a property, you can lengthen your credit history, which is an important factor in credit scoring models. And a longer credit history usually reflects positively on your creditworthiness. This is … Read more
Your credit score, also known as CIBIL score, can indirectly affect your rental applications in a number of ways. Although it does not have any bearing on rental applications in the unorganised market, but some landlords in big cities such as Mumbai and Delhi may consider the credit (CIBIL) score as well of tenants to … Read more
At the outset, it is vital to note that marriage — in itself — does not affect credit score. The credit scores are not based on marital status; however, it can indirectly influence your credit score in a number of ways especially when you share a credit card or open a joint bank account. For … Read more
Establishing a good CIBIL score is vital for young professionals since this can positively impact their ability to access credit in the future. One should avoid excessive debt, manage credit responsibly, and stay disciplined with their finances in order to achieve a strong credit score. As a matter of fact, maintaining a good credit score … Read more
Improving your CIBIL score in the long-term calls for consistent effort and responsible financial habits. These are some of the key strategies which we list out here. Thirty one-year-old Ashish Mehra recently discovered that his CIBIL score is only 590, so he asked around the ways to push his CIBIL score higher. He received numerous … Read more
CIBIL score, or credit score, maintains credit information of individuals and businesses. Your CIBIL score is a three-digit numeric summary of your credit history. It, undoubtedly, plays an important role in the loan application process. It influences the interest rates, loan terms, processing time and negotiating power, among others. For instance, someone with a high … Read more
CIBIL score is a key factor that banks consider at the time of evaluating an individual’s creditworthiness. While savings and investments themselves do not directly impact your CIBIL score, they indirectly affect it through various financial behaviours. The factors which actually impact the credit score, also known as CIBIL score, include the payment history, debt … Read more
To rebuild your CIBIL score after insolvency, also known as bankruptcy, is a gradual process, but it’s certainly doable with disciplined financial habits. You need to review your credit report, clear your bills on time, keep your credit utilisation low. One of the key advices to follow is be patient as rebuilding credit score … Read more