STEPS TO CHECK CREDIT SCORE FOR FREE JUST A FEW MINUTES


STEPS TO CHECK CREDIT SCORE FOR FREE JUST A FEW MINUTES !





Last time we did a blog on what factors affect your credit analysis; you guys loved it! So, this time we are back with another blog on how to check credit score for free.
Times are busy and we hardly get time between work to keep a check on our finances, no matter how much we try our work consumes most of our time of the day, and when finally we have some spare time on weekends to sit down and go through the logs, some household errand comes up and we get caught up again. We know how hectic it becomes for you to go through procedures to keep a tap on your finances therefore we thought we can do a little bit of research and bring you some information on how to check your credit score for free, what is the best credit score for you and why is it so important for you!

Check your credit score is no rocket science and all you need to do is to provide the following information while filling out the credit score form:

  1.      Full name as per PAN card
  2.      Date of Birth
  3.     PAN card number
  4.     Residential address, State& city and Pin code
  5.     Mobile number
  6.     Email ID
  7.     Check mark the terms & conditions
  8.     Click on submit

WHAT IS AN IDEAL CREDIT SCORE?

The score ranges between 300 to 850, where a score of 700 and above is considered good. Score of 800 and above is considered excellent. Majority of credit scores vary between 600 to 750. Lower score than 600 projects a below average report and is not considered while deciding an approval for any loan or credit card. Higher the credit score better the decisions taken by you and vice versa.

WHY IS CREDIT SCORE SO IMPORTANT?

This is no secret that our credit score is a projection of our credit history. Lenders use our credit scores to determine how likely are you to pay back your loan on time. It helps the lenders to know how your history has been with previous loans. A good credit score lets the lender know that you are diligent with your finances and have the capability to repay the amount lent to you. If you do not have a good credit score lenders will naturally hesitate to lend you any amount, therefore it is important that you maintain a good score.

WHAT EFFECTS THE CREDIT SCORE?

There are various factors which affect your credit score, we have already discussed the primary ones in our previous blog so let’s discuss some detailed pointers to keep in mind while you decide to get you credit score checked.


·   First and foremost, comes your payment history of all loans and credit cards you have taken in the past and how timely have you paid it back.

·      Then comes your credit utilization rate, which decides how much credit are you utilizing from your revolving credit limit.

·      The type of credit is also and important factor, it allows the lender to know that you have a diverse portfolio.

·      The total debt you must pay.
·      Bankruptcy
·      Number of inquires you have made for your credit report
·      Number of credit accounts you’ve handling lately

Check Credit Score Online on a routine basis can help you make concrete financial commitments and monitor your finances more effectively. At any point of time you might look to a lender to take a loan it is important that you check your credit score because all lenders check your score before approving you for it.

We hope you got all the important information we promised you. We love doing some intense financial research for you because at Credit Karo we understand your needs better than anyone else.

Until next time…happy buying!

Comments

Post a Comment

Popular posts from this blog

5 things you can do to improve your credit score

Image
Fist of all we need to know about the credit score… What is a credit score ? A credit score is a number that recapitulates information from your credit reports. Score ranges are between 300 – 850. It will be best if the score is in higher range. Foreseeable credit score can be stated by lenders and other consortium appraise the customer based on his credit as well. Where do credit scores come from? There are 3 major credit bureaus (Experian, Transunion, and Equifax) your credit report contains information about loans and credit cards someone had in the past. If any applicant doesn’t have enough credit score lenders would have to spend their expedient for it. If there something comes out like any mistake at applicants report then to estimate the actual credit score there is a computer model which analyze and generate a credit score. There are different types of credit scores for different lending purposes. All those types of sources have more variations. It wi...
Read more

CREDIT CARDS WITH NO JOINING FEE

Image
You are always looking for the perfect credit card, the one that caters to all your needs, the one that is a one-stop solution to all your problems. There is various type of credit cards across different categories like travel, shopping, lifestyle, rewards/cashback, medical and Diners, etc. Each credit card is unique and holds unique features. Most of these credit cards have a joining fee which you must pay in order to avail the services of the card, but there are some Best credit cards  in the market which have no joining fee levied on them which means you can enjoy the services of the card for free. Today we are going to talk about those credit cards with no annual fee on them. 1     YES Prosperity Edge : Joining fee: 0 Documents required: ·       KYC – PAN, address proof and ID proof ·       Salary slip/form 16 Benefits: ·       Get 2 domestic airpor...
Read more