Free Credit Report

1. Free Credit Report

2. Free Credit Report A credit score is a key parameter considered by the lender to determine the credit report in financeseva individual’s ability to pay back the borrowed amount. It is a 3-digit numerical number that represents the creditworthiness of the borrower. Generally, the score ranges from 300 – 900, 900 being the highest. Credit scores are calculated by the credit bureaus which is taken into consideration several factors like the length of your credit history, repayment records, credit inquiries and among others. Whenever you apply credit report for a loan or credit card from a bank or NBFCs, an higher credit score may entitle you to receive further benefits such as a higher loan amount, lower interest rate and your choice of tenure to repay the loan. Steps to get your Free Credit Report • Visit credit report page • Enter your first and last name. • Add your mobile number and e-mail ID. • An OTP will be sent to your mobile number for verification. • The next step would be to verify your age. • Your credit score and your report will be then displayed on the screen.

3. What are the factors that determine credit score in India? As stated above, the credit bureaus use data from your credit history to calculate or arrive at your credit score. These factors that affect your credit score are: Payment history – This indicates how regular you are on your loan/credit card payments. Credit Utilization - With very high debts with dues continuing for many months will have a negative impact on your score. Length of credit history – The longer the credit history, the higher the credit score Credit mix – Having multiple types of credit like personal loan, credit card and car loan shows that you can handle different type of credit efficiently and responsibly New credit – Taking out credits within short time negatively affects your credit score