Credit Score

CIBIL Score Calculation: How is Your Credit Score Calculated

CIBIL Score Calculation: How is Your Credit Score Calculated

A lot of people check CIBIL score periodically to ensure that they are in good credit standing. In this article, we will evaluate the key factors that determine CIBIL score calculation. By understanding these factors, one can have a better understanding of how they can improve their credit score. Key factors that determine CIBIL Score Calculation Credit History (30%) Utilization…

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Commercial CIBIL (Tips to monitor and improve Company Credit Report and CIBIL Rank)

Commercial CIBIL (Tips to monitor and improve Company Credit Report and CIBIL Rank)

Banks use Commercial CIBIL report data to make decisions on the creditworthiness of business’s credit applications. CIBIL gives two types of Credit Reports: Consumer CIBIL Reports for individuals and Commercial CIBIL Reports for companies. Companies have a credit report in the form of the Commercial CIBIL report that helps banks understand which companies are worthy of credit. The Commercial CIBIL Report…

How does Debt Settlement Impact Credit Score?

How does Debt Settlement Impact Credit Score?

What is Debt Settlement? A debt settlement is a process where a creditor and debtor mutually agree to settle the debt for an amount lower than the total due. Debt settlements occur when a debtor has the intent to repay a loan but not the means to do so. In this case banks may choose to settle with the debtor…

What Is The Minimum CIBIL Score For Credit Card Qualification?

What Is The Minimum CIBIL Score For Credit Card Qualification?

When one applies for a loan or credit card, the bank first checks their CIBIL (credit) score to evaluate the borrower’s creditworthiness based on their past credit history. There is no required minimum CIBIL score for credit card applicants. Each credit card has different requirements of CIBIL scores from their customers. Banks also look at other information like annual income and…

Ultimate Guide to Understand your CIBIL Consumer Report

Ultimate Guide to Understand your CIBIL Consumer Report

CIBIL consumer report gives a comprehensive review of one’s credit standing through a details report of their past credit transactions. It is important to understand the CIBIL report, its contents, and how each section of the report might impact one’s CIBIL score. CIBIL Consumer Report Details – What is it? CIBIL Consumer Report or Credit Information Report (CIR) has become…

What is a Good CIBIL Score?

What is a Good CIBIL Score?

A CIBIL score is a credit rating assigned to borrowers based on their past credit record. CIBIL scores can range between 300 and 900. A credit rating above 750 is considered a good CIBIL score.  An individual has a better chance of getting a credit card or loan with a higher score (900) as compared to a low score (300).…

Credit Score Basics: All You Want to Know About CIBIL Score

Credit Score Basics: All You Want to Know About CIBIL Score

Banks and financial institutions use credit scores to judge potential borrower’s credit worthiness. Credit score also measures the risk of default by judging the past history of credit repayment by a borrower. Only credit bureaus approved by RBI can give a credit score. The four RBI approved credit bureaus are TransUnion, Experian, CRIF Highmark, and Equifax. What is a CIBIL…