What affects your CIBIL score? 10 key factors you need to know

When you apply for a loan or a credit card, banks check several factors to approve your request. Banks check CIBIL scores to determine the terms of the loans and approve your request for a loan or a credit card. A high CIBIL score will help you get your loan and credit card requests with better interest rates. Top 10 factors that affect CIBIL score Payment history: Your credit history has the biggest influence on your CIBIL score. Applying for multiple credit cards would mean that the banks will make multiple hard enquiries, which can reduce your CIBIL score significantly.