Credit Score

Credit Score (1)

A Credit Report is an integral part of every individual's financial life and can be the fine line between getting credit and being denied the same. The credit score is a representation of one's creditworthiness, i.e.  the individual's willingness and ability to repay any outstanding debt. Of course, a score is never considered in isolation; a lender factors in other parameters as well when scrutinising an application for a loan or credit card.

A 'good' score can be the key to unlocking your dreams - say for example you want to avail of a loan to purchase a house or a car. The parameter of what is considered to be a good score differs from lender to lender.

The Committee constituted by RBI has recommended that each customer of a credit institution should be provided one base level consumer Credit Information Report (CIR) free of cost every year by each Credit Information Company. Now each individual can get free annual credit report upon request shortly.

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