Credit Score Report (2020) description

Credit Score Report Checker : Loan Credit Score

Loan Credit Score Report Applicationn.

IN INDIA 79% OF THE LOANS APPROVED ARE FOR INDIVIDUALS WITH A SCORE GREATER THAN 750. Your Credit Information Report (CIR) is an evidence of your credit worthiness. Credit Score ranges between 300 and 900. All lenders check your Credit Score before approving your loan application.

Can Calculate your Credit Score for free (just a approximation of Credit Score will be provided not exact Credit Score will be provided here).
When you apply for a credit card or a loan, lenders like banks and non banking finance companies check your credit score to see whether you have the ability to repay the credit.

If you have a higher credit score, you are entitled to receive preferential pricing and get discounts on the interest rate.
Moreover, a high credit score gives your the additional power to negotiate for better rates of interest on loans.

A credit report is a crucial element nowadays simply because there is a lot of risk involved in lending money, and banks are very cautious with it. Before lending money the bank needs to make sure that you don't have any unpaid bills or bad debts. So for that reason they check your credit ratings.

A. What is a credit score?

A credit score is an indicator of a borrower’s ability to make credit payments on time. It is calculated after evaluating multiple information patterns such as your past credit report, loan payment history, current income level, etc. A higher credit scores increases your chances of getting a low interest loan from a financial institution.

A credit report is a crucial element nowadays simply because there is a lot of risk involved in lending money, and banks are very cautious with it. Before lending money the bank needs to make sure that you don't have any unpaid bills or bad debts. So for that reason they check your credit ratings.

B. Why is it important for me to know my credit score?

Knowing your credit score enables you to make better credit decisions. Almost all financial lending institutions evaluate your credit score before approving your credit application. Having a bad credit score increases the chances of your loan application being rejected. Flipside, a good credit score improves your chances of negotiating a lower interest rate.

Thank you!!!!