Things That Can Affect Your Credit Score in India
Having a good credit score is key to quick and easy lending. The first thing a lender can test, when you apply for a loan, is your credit score. If you have a good credit score (this is considered a good CIBIL Transunion score of over 750) your loan application will go for further processing. But if your loan score is downside down, your loan application will be rejected outright. Hence, having a good credit score is very necessary. Also, note that you can’t build a good credit score overnight as it’s based on your credit history measured. Here are some of the factors that affect our credit score. Irresponsible Payment Behaviour: Your payment history affects your ratings the most. Paying your credit-card bills and loaning EMIs on time every month is critical. 30-day delinquency can reduce your score by 100 points according to a CIBIL analysis (reported by the Financial Express). If you have multiple credit cards as well as loans, it is advisable to set up reminders ...