Factors That Can Affect Your CIBIL Score
On the basis of the previous records of credit or loan repayment, CIBIL Score demonstrate the credit worth of the customers however you must know Factors That Can Affect Your CIBIL Score. There are so many things factors that impact your CIBIL Score card as past history of Repayment, Percentage of Timely Payments and lots more. Here we have listed the complete list, impacting on your score card. Scroll down this page and attain complete list that affect your CIBIL Score
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To conclude the credit worth of individuals, CIBIL Score is perfect gateway and banking organization also relay on it. Credit Information Bureau (India) Limited is the first Indian Credit Information Bureau that gather all borrower’s credit history which are sent to TransUnion CIBIL via bank members and TransUnion CIBIL. This collected information build up Credit Information Reports and impact your loan application approval positive or negative it depends on the credit history. To collect more information about Factors That Can Affect Your CIBIL Score scroll towards the underneath listed important information.
Factors That Can Affect Your CIBIL Score
The loan application will be approved or rejected on the basis of CIBIL Score report. So a good score card is really imperative but how to create, so let’s discuss some important factors, that affect your score card. Some of them are Repayment History, Credit Utilization, Loan Tenure, Multiple Loan Application, Percentage of Timely Payments, Search Enquiries etc.
Repayment History
It is informed to customers that their Score comprise 35% weightage of Repayment history, so make sure that to make their payments of EMI and also credit card on time as each late payment done by the customers is added in their score report.
If someone make it’s any kind of credit card, home loan or personal loan payment delay it will impact bad impression on your credit history. With the help of MyMoneyKarma Financial Tools, you will get automatic reminders on your upcoming bills
Check From Here >>> CIBIL FAQs
Loan Tenure
The another factor that affects the CIBIL Score report is Loan Tenure so the customers should be remember in which they are applicable to make the complete payment of loan as it will be better for their credit score.
If any customer have good credit record and he/she also make all payments on time it will impact the positive effect on their CIBIL Score card and further in future they apply for loan they will get easily loan approval application. Defaults or settlements will impact the negative effects on individuals score card.
With the help of above presented factors, hope you make your good CIBIL Score with the help of credit records. Candidates, willing to know more details, must go through the link of Factors That Can Affect Your CIBIL Score.
Vital Note
Through the article Factors That Can Affect Your CIBIL Score we would like to provide all details that affect your score card and you can make a good past records so that in upcoming loan approval, you need not to face any kind of difficulty. Aspirants can follow the above provided link and gather more information. Stay tuned with us for latest updates.
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