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DO LOOK AT CIBIL CONSUMER CREDIT INFORMATION REPORT TO BE AWARE OF YOUR CREDIT HISTORY

We are living in a fast changing technological landscape where one needs to stay ahead of others to enjoy the riches of life. But the irony is that most are found short of their financial resources to fulfill their personal needs. And thatu2019s why you fall upon loans to steady the course of your life. But loans donu2019t come on a platter. You need to prove your worth to get the same. It means you must have a good credit score to get the loan approved. The credit score is offered by several credit information companies such as CIBIL. You can look at CIBIL Consumer Credit Information Report to understand things better. Letu2019s get through the same in this post without any further delay.

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DO LOOK AT CIBIL CONSUMER CREDIT INFORMATION REPORT TO BE AWARE OF YOUR CREDIT HISTORY

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  1. DO LOOK AT CIBIL CONSUMER CREDIT INFORMATION REPORT TO BE AWARE OF YOUR CREDIT HISTORY

  2. We are living in a fast changing technological landscape where one needs to stay ahead of others to enjoy the riches of life. But the irony is that most are found short of their financial resources to fulfill their personal needs. And that’s why you fall upon loans to steady the course of your life. But loans don’t come on a platter. You need to prove your worth to get the same. It means you must have a good credit score to get the loan approved. The credit score is offered by several credit information companies such as CIBIL. You can look at CIBIL Consumer Credit Information Report to understand things better. Let’s get through the same in this post without any further delay.

  3. What is CIBIL Consumer Information Report? The report shows a glossary of your credit activities. Be it the loan or credit card, every repayment aspect would be shown on the report. It will show the credit score besides demonstrating the status for each of the credit accounts. The payment date, application date, total outstanding, any missed or late payment, if any. Even if you have settled a debt by paying the agreed amount and not the whole amount, the report will show that. You can now understand the importance the report holds to your credit aspirations.

  4. How Does the CIBIL Prepare Credit Information Report? You must be wondering as to how CIBIL is able to prepare a credit information report of every individual. Well, it’s job gets easier from the credit inputs it receives from member banks and non-banking finance companies (NBFCs). These lenders send monthly reports to CIBIL and showcase every single detail pertaining to your repayment. Be it the payment date, length of credit, outstanding due or anything, CIBIL gets a complete detail of your repayment track.

  5. What Does the CIBIL Do After Receiving Repayment Details from Lenders? After receiving the repayment details, CIBIL tries to figure out your creditworthiness. The noted credit bureau maps your credit behaviour based on how you pay off the loan. In the case of credit cards, it sees how much you spend, checks the amount you pay and the pattern of the same. This gives CIBIL a fair idea of your creditworthiness and helps it assign the credit score to individuals. The credit score is generated only if you have a repayment track of at least 6 months to a year.

  6. CIBIL Login Registration You can create a registration on the official website of CIBIL. This would require mentioning the personal details such as your name, date of birth, PAN number, residence address, etc. You also need to share credit details online. Details such as a loan or credit card account number, loan tenure or credit card expiry date, etc. Further, you need to create a login by choosing the User ID and password that meets the requirement as laid down by CIBIL.

  7. What is a Good Credit Score? CIBIL generates credit scores in the range of 300-900 in India. A good credit score can be 700 and above. CIBIL score of 750 and above would be viewed excellent by lenders. Keep maintaining a good credit score and history by paying off the loan or credit card dues on time.

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