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Credit Score out of 900
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Ideal Score :
- Above 800 : Excellent
- 750-800 : Good
- 700-750 : Average
- Below 700 : Poor
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High Score Not only guarantees Bank Loan but also attracts lower ROI
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Credit Agencies : Transunion , Experian , Equifax , Highmark
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Factors that affect Score :
- Repayment History
- Credit Exposure
- Credit Mix
- Credit Utilization
- No. of Credit Enquiries
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Tips to Increase Score :
- Montior Cibil Score regularly ( once a month )
- Timely repayment of Loan & Credit Cards
- Pay Credit Card Dues fully , do not settle or opt for EMI facility
- Have multiple Credit Cards but do not use any one limit more than 30%
- DO Not Settle or write off Loan in lieu of OTS
- Have good mix of Secured & Un Secured Loan
- Report Grievances to Credit Authorities immediately
