Credit Score Report Check : Loan Credit Score
Having a good credit score is your ticket to financial freedom. With our convenient app, theres no longer a need to be at your home computer to check your report and scores from all 3 credit bureaus. You should not get fooled around with other websites which takes hold of your important credentials and promises to provide you with credit score.
IN INDIA 79% OF THE LOANS APPROVED ARE FOR INDIVIDUALS WITH A SCORE GREATER THAN 750.
What is credit score?
Well, many of us are quite familiar with the term, but only few know the exact meaning, role, and importance of the score. Basically, a credit score is a three-digit number ranging from 300 to 900, which helps the lenders to determine the borrowers creditworthiness. In simple words, this score is a borrowers report card to check how financially responsible they are. While 300 being the lowest score and 900 the highest, an individual should always work to keep the score at least above 700 to unlock affordable loan and credit schemes.
The most important parameter that one must follow is that they must ensure that their credit score is high at all times. The following are the ways you can follow to keep a high credit score:
- Watch the credit card balances. Make the payments on a monthly basis and dont let it spill over by paying just the minimum amount due. - - You will be charged a heavy interest on the remaining balance.
- Eliminate nuisance balances. If you have credit cards with small balances due, then clear them off at the earliest or transfer it to another existing card. This way you are not polluting your credit report with a lot of balances.
- If you have diligently paid off a debt, then leave the record in your credit report.
This way future lenders will know that you are serious about making a commitment to paying off a loan and you do so in an orderly manner. This makes you an ideal customer.
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.