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How To Use A Short-Term Personal Loan To Improve Your Credit Score ?


personal loan to build credit scoreA credit score is a 3-digit number generated by credit information agencies such as CIBIL, CRIF ,Experian,Equifax etc ,based on which banks and NBFCs (Non Banking Financial Corporations, such as loan and insurance companies, co-operative banks, stock broking firms, etc.) evaluate a person’s creditworthiness ie their capacity and willingness to repay loans extended to them on time. Based on this assessment companies accept or reject loan applications.

The different credit score ranges and their grades are as follows –

credit score ranges Read more of this post

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Decoding your CIBIL CIR


wealthymatters.comIf you have just bought your CIBIL credit report and need some help understanding it or if you are considering forking out for one and want to know what you will get,the following write up is for you:

Here is the information found on a CIBIL CIR:

Payment history

Days Past Due (DPD) appears in the account(s) section of your CIR. It appears with one other piece of information — the month and year of payment. DPD indicates by how many days a payment on that account is late that month. Anything other than ‘000’ is considered negative by a lender. Up to 36 months of this payment history (with the most recent month displayed first) are provided in this section. Read more of this post

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