What is cibil score?
Anonymous
Asked: 1 month ago2025-03-27T12:33:02+05:30
2025-03-27T12:33:02+05:30In: Credit Scores & Reports, Financial Goal Setting, Personal Finance & Budgeting, Personal Financial Planning
What is cibil score?
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Absolutely! Your CIBIL score is a three-digit numerical representation of your creditworthiness. It ranges from 300 to 900, with higher scores indicating better credit health. Lenders refer to this score to evaluate your credit risk before approving loans or credit cards.Here's a breakdown:- 300-600Read more
Absolutely! Your CIBIL score is a three-digit numerical representation of your creditworthiness. It ranges from 300 to 900, with higher scores indicating better credit health. Lenders refer to this score to evaluate your credit risk before approving loans or credit cards.
Here’s a breakdown:
– 300-600: Low score, may face challenges in credit approval.
– 601-750: Medium score, decent credit health, but improvement helps.
– 751-900: High score, likely to get quick loan approvals and better interest rates.
To maintain a healthy CIBIL score:
1. Pay bills on time.
2. Avoid maxing out your credit limit.
3. Maintain a healthy credit mix.
4. Regularly check your credit report for errors.
Remember, a good CIBIL score offers better financial opportunities. If you have any more queries on this topic or related to finance, feel free to ask!
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