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4 Important Factors That Decide Your CIBIL Score

A credit score is a financial representation of an individual on the basis of his financial activities and records in the past. The score is enough for a loan provider to understand if the borrower is responsible and will be able to handle a debt, based on past records. Hence, a good Experian credit score makes you a responsible and safe borrower. In order to make borrowing easy, a good Experian credit score is one of the best ways to explore the debt portfolio. A good credit score makes approval instant and offers low rates. <br>https://www.clix.capital/check-credit-score/<br>

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4 Important Factors That Decide Your CIBIL Score

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  1. 4 Important Factors That Decide Your CIBIL Score

  2. Ways by which you can increase your credit score • A credit score is a financial representation of an individual on the basis of his financial activities and records in the past. The score is enough for a loan provider to understand if the borrower is responsible and will be able to handle a debt, based on past records. Hence, a good Experian credit score makes you a responsible and safe borrower.

  3. Get a balanced credit mix • There are various types of lines of credit available in the debt portfolio. You get options like secured, unsecured, revolving, and installment loan options. One needs to saturate his or her credit mix with all kinds of loans, and not just concentrate on one type of loan. A perfect credit mix option would be a credit card, personal loan, and auto loan.

  4. Payment records • Payment record takes around 20% of your credit score calculation. So, if you are having a bad credit score, your delayed payments have probably been the cause. So, automate your payment and pay the bills on time. It is important that you track the due date, automate your payment and have a clean track record.

  5. Credit age In order to make borrowing easy, a good Experian credit score is one of the best ways to explore the debt portfolio. A good credit score makes approval instant and offers low rates. Start your credit score check free online process today, to keep yourself informed for improvement.

  6. Thank You For more information please contact: Clix Capital Services Private Limited Email: hello@clix.capital | Mobile: 18002009898

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