How To Check CIBIL Score Rating?


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A credit score is an essential element of borrowing that proves the creditworthiness of the individual. It is very important to check your credit score so that you can track and monitor your credit score. A credit score is a three-digit score that makes borrowing easy for borrowers. You must be aware of the credit score and how you can check the credit score and improve it with time.

How to check credit score?

  • Visit the official website of Clix Capital. You will find the option to check your credit score online. The official website will help you check your credit score instantly completely free of cost.
  • Find the option ‘check my credit score‘ and tap on it. When you click on it, you need to enter all kinds of important information and details. Various details like name, contact, age, financial details, PAN card number, Aadhaar card number, and employment details need to be filled in. Fill up all the areas of the online form and submit.
  • You will find your credit score reflected on your smartphone device or laptop screen. It is instant and free of cost to check your credit score.

How to improve credit score and report?

  • Pay your bills on time. It is important to make timely payments before the due date. Since payments are an essential part of the credit report and credit score you cannot delay or default it. Whether you pay for your credit card bills or monthly loan amount, it is vital to pay the amount within the due date. A single delay will hugely damage your credit score. And the only way out is to make the payments on time by automating the payment option. Payment almost takes up 25% of the credit profile which makes it very important for you to make timely payments. Read Here : How is business loan calculated?.
  • Keep your credit accounts open even when you do not use them. If you have any credit card that you have been using for a long time you need to keep that credit card open to increase your credit score. New credit accounts do not add anything to your credit score. And you need to keep your credit accounts open with a long credit history even when you do not use them.
  • Make full payments without keeping any outstanding or overdue amount because it will harm your credit score as well as make your loan more expensive by adding up late charges. Pay the entire bill amount without any overdue, especially when it is a credit card that keeps the payment.
  • Do not apply for multiple loans within a very short period. If you look vulnerable and in need of finances, chances are that your loan application will get projected. Too many applications mean that there will be hard inquiries run on your credit report which will damage your credit score. If you are improving your credit score you cannot afford to make this mistake. Read More : Build A Positive Credit Profile With Good Credit Habits
  • Keep your debt to income ratio low. Your debt to income ratio mustn’t be more than 50%. If you are paying more than 50% of your income towards loan repayment, it is not a good thing at all. You must close a single loan before taking a new loan. Therefore, when you already have an existing loan, you need to keep the debt to income ratio low.
  • Credit mix is an important component that helps in improving your credit score. It should be a well-balanced one with both secured and unsecured loans. You can easily handle your borrowing experience and get a good credit score as well.
  • The credit utilization ratio should be quite low. You can over-exhaust your credit limit when you keep spending, do not pay the full bill, and end up carrying a balance on your credit account. The credit utilization ratio is a good way to improve your credit score. It is important that you maintain the credit limit and do not exhaust more than 30% of the available credit.
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Benefits of checking credit score

  • Keep track of your credit score by checking the credit score randomly. You need to monitor the changes taking place in your credit score. When you check your credit score it will be easy for you to learn about your credit score.
  • Detect errors and wrong entries on your credit report that you get credit score check online. It is important to check your credit score so that you can detect errors. It helps you to determine whether the errors are pulling your credit score down or not. It is important to check your score to report errors.
  • Know your credit score so that you can negotiate for a better rate of interest. This helps you to get an affordable loan from financial institutions.

Wrapping up

Check credit score online by visiting the website of Clix Capital. The credit score check online option helps you to monitor and improve your credit score.

 


Ajay Singh

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