Personal Loan: How does credit utilisation ratio influence loan eligibility?
1 week, 3 days ago

Personal Loan: How does credit utilisation ratio influence loan eligibility?

Live Mint  

A personal loan comes in handy when you need urgent funds as it does not require any collateral and can be utilised for multiple purposes. One such factor that has an indirect impact on your personal loan eligibility is the credit utilisation ratio. A credit utilisation ratio reflects the portion of credit you utilise from the available credit limit. Hence, the credit utilisation ratio is the total amount that you owe on all credit cards in accordance with the total credit limit available. Clearing credit card dues on time will help maintain a low credit utilisation ratio.

Personal Credit Eligibility Loan Personal Loan Card Score Increase Your Card Limit Your Credit Card Ratio Credit Limit Credit Utilisation Utilisation Credit Utilisation Ratio  eligibility  does  credit  increase  utilisation  limit  personal  ratio  score  loan  influence  card

History of this topic

Did you know you can raise a personal loan to maintain a high credit score?
4 weeks ago

Did you know you can raise a personal loan to maintain a high credit score?

Live Mint  

If you are in urgent need of money and your credit card's limit is close to running out, you may consider raising a personal loan instead. Instead of exhausting the entire limit of this card and avoiding applying for another credit card at the eleventh hour, you can instead raise a personal loan. For instance, when your card limit is …

Discover Related