Everything you need to know about Credit score and how to enhance it


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For an individual planning to apply for a loan or a credit card, the most important factor that a lender/bank considers is the CIBIL (Credit Information Bureau (India) Limited) report and score of that individual, besides his/her income. Hence, it is imperative that the individual checks his/her credit report, showing the credit history and score, before applying for a loan/credit card, so that his/her application is viewed favourably by the lender/bank.

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Everything you need to know about Credit score and how to enhance it

  1. 1. Everything You Need To Know About Credit Score
  2. 2. “ Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy ” Marshall Field
  3. 3. Everything you need to know about Credit Score For A Hassle Free Loan
  4. 4. What Is Credit Score ?
  5. 5. A credit score is a numerical indicator of an individual’s credit history, showing his/her financial and credit health.
  6. 6. Out of How Much Is the Credit Score Rated?
  7. 7. The score of an individual is calculated by CIBIL ,which assigns a number between 300 and 900 to a borrower based on his/her credit history.
  8. 8. What is A Good Credit Score?
  9. 9. Different banks have different cut-off credit scores for considering loan applications. For most banks, the credit score of borrowers should be 750 and above.
  10. 10. What are the Factors affecting Credit Score?
  11. 11. The 4 major factors that affect Your score are - Payment history - High utilization of Credit Limit - Higher percentage of credit cards or personal loans - Many new accounts opened recently
  12. 12. How to Improve Your Credit Score?
  13. 13. Avoid Late Payments!
  14. 14. Minimise credit card limit
  15. 15. Maintain a healthy mix of credit
  16. 16. Avoid going for too many credit facilities
  17. 17. Check Your CIBIL report
  18. 18. Read more about how to enhance your credit score here
  19. 19. What’s Your Credit Score?
  20. 20. Need to get your Real Estate queries answered by experts ? Post it on our Forum
  21. 21. CommonFloor.com is India's leading property search portal. On a mission to make property search hassle-free, transparent and fruitful; CF has best of breed property search on maps, property search mobile apps and an extensive section for knowledge resources and advice in real estate.