credit utilization ratio

Want to improve your credit utilisation ratio? Here’s how a personal loan can help

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Want to improve your credit utilisation ratio? Here's how a personal loan can help

Personal loans can indirectly improve your credit utilisation ratio. Although they are not included in the utilisation ratio since they are installment loans, they can be used to pay down revolving debt, such as credit cards, which do impact your utilisation ratio. The following points detail the intricate relationship between personal loans sought and credit … Read more

CIBIL: 6 common misconceptions about credit scores you should be aware of

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CIBIL: 6 common misconceptions about credit scores you should be aware of

Before handing out a loan, banks invariably check the applicant’s credit score. So, it goes without saying that a good credit score is indispensable for anyone to procure a loan. However, there are a slew of misconceptions about CIBIL score. Here are six key misconceptions: Checking your score hurts it: This is a widespread misconception. … Read more