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Going Beyond the Jargon – Cibil Scores, Credit Scores and Report

To sum up, it is safe to say that a good credit score forms a crucial part of your overall credit health and acts as a catalyst while applying for a personal loan. If you wish to apply for a loan, know your credit score here. Visit : https://www.clix.capital/check-credit-score

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Going Beyond the Jargon – Cibil Scores, Credit Scores and Report

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  1. Going Beyond the Jargon – Cibil Scores, Credit Scores and Report

  2. ‘Credit’ is not Credit Card • Credit means borrowing money, mainly from a bank or any other financial company, that helps us to buy or obtain something now and pay the cost back later attached with an interest to the borrowing. It means one will have to pay back more than borrowed.

  3. What does this mean for me? • Your credit report and credit score are essential aspects of borrowing. If you want to pay monthly for a car, start a new credit card, avail any loan, you need to have a credit history to assure lenders that their money would be paid back. If you don’t have a credit report or score, or if your score is low, you’re likely to find it difficult to borrow money. • Our lives circle around credit. The main sources are loans, but other small and large purchases paid over installments, all represent credit too. If you want to buy a house or avail business loan, your credit history will be examined to analyze whether you are eligible for the new credit/loan. This is where your CIBIL score and report come in.

  4. The Credit Score • Your credit score, the 3-digit number shows how trustworthy you are for a new loan. The higher the number, you’ll be accepted for a loan, as you will be believed to be a low-risk borrower. • If you have failed to pay back in the past, you’re likely to have a low credit score and so be deemed as a high-risk borrower. If you find yourself in this situation, there are a number of things you can do to try and uplift your score

  5. Summary • To sum up, it is safe to say that a good credit score forms a crucial part of your overall credit health and acts as a catalyst while applying for a personal loan. • If you wish to apply for a loan, know your credit score here.

  6. Address: 4th Floor, Kailash Building, Kasturba Gandhi Marg, Connaught Place, New Delhi-110001 • Phone: 1800 200 9898 • Email us: hello@clix.capital • Website: https://www.clix.capital/check-credit-score Clix Capital Services Private Limited

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