Have you wondered what would you do if you face difficulties in raising your credit score? Apart from the standard tricks of paying bills on time and clearing your outstanding credit card payments, there are some specific strategies that you can follow on the advice of the credit score repair services. These credit repair companies, usually … Read more
The suitability of an annual percentage rate (APR) for a personal loan varies based on several factors but typically ranges between 6% and 12%. Here’s a breakdown to assist you in gauging what constitutes a favourable APR for your circumstances: National average: As of February 28, 2024, the average APR for a personal loan in … Read more
Paying off debt is vital to maintain a good credit score. However, it is a responsible financial management that leads to a good CIBIL score. Therefore, a borrower must take some steps to ensure that credit score stays healthy and sound. These steps include monitoring your credit report from time to time, timely bill payments, … Read more
Foreclosure may have an adverse and lasting impact on your credit score. But first of all, let us understand what a foreclosure is. It refers to a legal process in which a lender attempts to recover the unpaid loan from a borrower by forcing the sale of asset that was given as the collateral. This … Read more
Credit mix refers to the variety of credit accounts you have on your credit report. These include car loans, credit cards, student loans, personal loans, among others. Having a diverse mix of credit accounts shows to lenders that you can handle different types of credit in a responsible fashion. Impact on credit score Credit mix … Read more
CIBIL score, which ranges from 300 to 900, signifies borrowers’ creditworthiness. Banks and other financial institutions use these scores as one of the factors to determine their eligibility for loans. It is, therefore, considered important to check the score which can help you monitor your financial health. One can check their CIBIL score on the … Read more