5 popular CIBIL Score myths that most borrowers believe

CIBIL Score myths are hard to ignore, especially, when not many people take interest in personal finance concepts and their importance in our day-to-day lives. 

Millennial Money: 5 ways to build your credit score in 2023

<ul><li>A better credit score can expand your access to credit and make borrowing more affordable. For example, having a score of 700 versus 650 could mean getting approved for a new car loan at 4.9% interest instead of 7.25% interest.</li></ul>

Exhausting credit card limit affects your credit score, so does not use at all. Here's how

Using credit cards only when required or using only a portion of the credit allowed from your overall limit indicates responsible use. But less use or zero use of credit cards affects one’s credit score too.

Why frequently checking of credit score can impact it adversely? MintGenie explains

Your credit score is important to know if you are fit for the loan that you are seeking. A poor credit score can impede or damage your chances of getting a loan at the desired interest rates.

Low credit score? Here are 6 tips to improve it immediately

In personal financial planning, credit score and credit report play an important role while taking a loan. But what is the relationship between credit score and loans or credit? Let’s understand through the article.

6 tips you can use to help improve your credit score

<ul><li>When Willard Carpenter, 68, wanted a loan to open a new business, he realized that his credit score was not high enough to get approved. After checking his credit history, he found several issues he needed to solve.</li></ul>

Credit Literacy Index: Millennials are more serious about financial education, survey finds

The number of new consumers regularly checking their credit score has increased by 163%, according to a report by OneScore. In FY22 compared to FY21, the number of Gen Z members regularly checking their credit score climbed by nearly 2.5 times.

This is why your credit score may have dropped. Here's how you can improve it

Many people do not pay attention to their credit scores unless they are charged with very high-interest rates on the loans they seek or have to face total loan rejection. Checking your credit report regularly ensures that you are aware of your credit score and strive to keep it high always. 

Many people do not pay attention to their credit scores unless they are charged with very high-interest rates on the loans they seek or have to face total loan rejection. Checking your credit report regularly ensures that you are aware of your credit score and strive to keep it high always.&nbsp;

Factors that must be corrected to avoid damaging your credit score in the future

Small unwanted habits of neglecting to repay the amount due or ignoring minor details considering the latter to be of less importance can have an aggravating impact on your credit score. Correcting those errors in time is the best way out to ensure a good credit score that reflects your ability to repay your loans on time.&nbsp;

Study finds more than 160 million Indians to be unworthy of credit

More than 160 million consumers were considered to be underserved in India at the end of 2021, according to a new global TransUnion study. The study found that about 5% of consumers who started as credit underserved were found to have migrated to becoming more credit active in a two-year window.

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5 popular CIBIL Score myths that most borrowers believe

personal finance

personal finance

personal finance