Credit Score
A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of that person.
A credit score is primarily based on credit reportinformation typically sourced from credit bureaus.
Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt.
All lenders check your CIBIL Score & CIBIL Report or any other credit bureaus Credit Score before approving your loan application.
Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits.
Lenders also use credit scores to determine which customers are likely to bring in the most revenue.
In the end we all say that; Higher your Credit Score, higher are the chances of loan approval such as personal loan, business loan, home loan, loan against property, credit cards in India.
The use of credit or identity scoring prior to authorizing access or granting credit is an implementation of a trusted system.


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