Credit score: What are the different models to calculate? 4 key factors that influence it?
1 month, 1 week ago

Credit score: What are the different models to calculate? 4 key factors that influence it?

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Two important resources for managing your own financial affairs are your credit score and your credit report. Let's look at the various credit score models rating companies use: CRIF High Mark: A score of 750 or above is considered good. Credit score range Credit score Status 800 and above Excellent 750 - 799 Very good 701 - 749 Good 651 - 700 Average 300 - 650 Poor Elements that affect credit score On-time payments: Paying all EMIs and bills on time reflects good money management and helps increase credit scores. Paying all EMIs and bills on time reflects good money management and helps increase credit scores. Credit utilisation : A good credit manager keeps credit card balances and loan EMIs within acceptable limits.

History Loan Credit Score Score Good Scores Cibil Credit Scores Crif High Mark Credit Factors  influence  credit  factors  score  300  loan  750  emis  card  models  scores  different  calculate  key  good  history

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How the credit score cycle works and why it matters for your finances—check here
1 month, 1 week ago

How the credit score cycle works and why it matters for your finances—check here

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A high credit score offers much more than numerical value because it functions as a gate to better financial prospects together with financial independence. 2) Good credit score Appropriate credit handling produces positive results in the form of high credit scores. Good credit score cycle Taking a loan: A borrower makes a formal financial institution request to obtain and receive …

Credit score: How does CRIF High Mark assess your ability to take a loan? An explainer
1 month, 1 week ago

Credit score: How does CRIF High Mark assess your ability to take a loan? An explainer

Live Mint  

It is quite essential to know about your creditworthiness in this fast world of finance. Features of CRIF High Mark credit score It summarises your credit history, including how you handled previous loans and credit cards, numerically. It is very easy to check your CRIF credit score: Step 1: Go to the free credit score page on the website of …

Credit Score Cycle: How to build and maintain a strong credit history
1 month, 2 weeks ago

Credit Score Cycle: How to build and maintain a strong credit history

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A credit score is a three digit number. Therefore, understanding how credit scores are calculated can help a borrower in building and maintaining a good credit history. Importance of the length of credit history The length of a loan applicant's credit history, new credit and credit mix also play a crucial role, though to a lesser extent. A longer credit …

How to qualify for a credit card: What credit score really matters in 2025
2 months ago

How to qualify for a credit card: What credit score really matters in 2025

Live Mint  

Credit cards today are the essential tools for managing funds, making purchases, and building good credit. But your credit score is an essential component of determining your credit-worthiness when you apply to a credit card place. The credit score determines to a very great extent your chances for credit card, loans and getting affordable insurance rates. Factors influencing credit score …

How to qualify for a credit card: What credit score really matters in 2025
2 months ago

How to qualify for a credit card: What credit score really matters in 2025

Live Mint  

Credit cards today are the essential tools for managing funds, making purchases, and building good credit. But your credit score is an essential component of determining your credit-worthiness when you apply to a credit card place. The credit score determines to a very great extent your chances for credit card, loans and getting affordable insurance rates. Factors influencing credit score …

Credit score vs credit report: What’s the difference and why they matter
3 months ago

Credit score vs credit report: What’s the difference and why they matter

Live Mint  

It is well known that your credit score directly impacts your ability to get a loan and a lower interest rate on it. A credit report is a detailed record prepared by credit bureaus based on several factors, primarily including repayment history, credit utilization ratio, credit account age, total number of credit accounts, and hard inquiries. Whenever you apply for …

Credit Score: How is it calculated and what factors influence it?
3 months, 4 weeks ago

Credit Score: How is it calculated and what factors influence it?

Live Mint  

A credit score is a three-digit number that helps lenders assess your eligibility for loans or credit cards. Let us have a look: Factors affecting credit score calculation Payment history: Your payment record is the record of loans and credit accounts like credit card, personal loans, home loans and others. Different types of credits like home loan, personal loan as …

Want better credit score? Here are 7 key tips to help you get there
3 months, 4 weeks ago

Want better credit score? Here are 7 key tips to help you get there

Live Mint  

To be considered eligible for any financial need like home loans and credit cards, one has to have an elevated credit score. A better loan offer and financial option lies ahead with a better score, which means lesser risk, as lenders use your credit score to determine your ability to repay a loan. You could damage your credit score if …

Want a good credit score? Here are 8 key factors you must know
4 months ago

Want a good credit score? Here are 8 key factors you must know

Live Mint  

Credit score is an important financial metric that represents your credit worthiness. Understanding credit score Credit score is a numerical value representing one’s ability to manage loans or borrowed funds alongside interest. Payment history: The ability to repay the loans and credit card payments on time, is one of the biggest factors determining credit score. If any information such as …

Why is your credit score important and how will it impact your future?
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4 months ago

Why is your credit score important and how will it impact your future?

Live Mint  

Your credit score is an important number that influences every aspect of your life financially. A high credit score tells lenders that you are not very much of a risk, which translates to more favourable loan terms and lower interest rates. Loan limits: A good credit score can also mean a higher amount to be loaned, helping you access more …

What is a credit score and ways to maintain a good score?
4 months, 1 week ago

What is a credit score and ways to maintain a good score?

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In today’s financial world, credit score is one of several important measures which describes a person’s financial situation. Equifax score: Equifax has credit scores that can be anywhere from 300 to 900 with 750 and above rates being considered good. How to interpret a credit score In India, credit scores typically fall into the following ranges: 300-549: A low credit …

Beyond Three Digits: The Role of Credit Scores in Loan Approvals
1 year, 4 months ago

Beyond Three Digits: The Role of Credit Scores in Loan Approvals

The Quint  

How to Maintain a Good Credit Score? Pay installments on time Regular payments of installments are very important to maintain a good credit score. Avoid multiple enquiries in the short term Every time you apply for a loan or credit card to banks or financial institutions, there will be a credit enquiry recorded in your name. If you pay the …

Credit score vs credit report: The differences that matter
1 year, 6 months ago

Credit score vs credit report: The differences that matter

Live Mint  

Your creditworthiness, as evaluated by your credit score and credit report, holds significant importance when seeking loans or credit cards. The pivotal factors influencing your credit score encompass: Payment history: The foremost determinant of your credit score is your track record of timely payments. The precise factors considered in this calculation may vary depending on the credit scoring model in …

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