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CIBIL
CIBIL
After how many days CIBIL score gets updated?
After every 30 days, refresh is available and the latest CIBIL Score can be fetched.
What factors affect my CIBIL Score?
The 5 major factors that affect your cibil score are: Credit Utilization: It measures utilization of your available credit card usage. Total available spending limit across all your credit cards is considered. Strive to maintain healthy credit utilization. High utilization has a...
What is a CIBIL Score?
CIBIL Score is a 3 digit numeric summary of your credit history, derived by using details found in the 'Accounts' and 'Enquiries' sections on your CIBIL Report and ranges from 300 to 900. It is one of the major factors that is taken into account by the commercial banks and lender...
Why are the loans for which I am a guarantor showing up on my report?
Banks and Financial institutions ask for a guarantor for certain loans as a means of security for the loan amount they provide. A guarantor on any form of loan is equally responsible to ensure the repayment of the loan. Hence, the guarantor provides a guarantee to the lender that...
Why did my CIBIL Score drop?
There are a number of factors that might affect your CIBIL score, but the most significant factor is missing any loan EMI or credit card payment due dates. Utilizing your credit limit excessively can potentially lower your score. Additionally, applying for many credit cards or lo...
How can I improve my CIBIL Score?
You can improve your CIBIL Score by maintaining a good credit history, which is essential for loan approvals by lenders. Follow these 6 steps which will help you improve your score: Always pay your dues on time: Late payments are viewed negatively by lenders. Keep your balances l...
Why is my CIBIL Report incorrect or something in my CIBIL Report doesn’t seem right?
Freecharge fetches the CIBIL Score from the Credit Bureau. If there stands to be any discrepancy or missing item in the CIBIL report, the consumer can click on the following link and directly approach the Credit Bureau to raise any dispute. https://www.cibil.com/consumer-dispute-...
Would frequently checking my CIBIL Score affect it negatively?
No, the CIBIL score does not go down if checked routinely. If anything, it reduces any unpleasant surprises on your credit status tomorrow. Therefore, it is highly advised to check your CIBIL score each month and maintain good financial standing.
I have an add-on credit card. Why are the details reflecting on my account when I am not liable to pay?
It is important to note that even if the primary card holder is responsible for payments for charges incurred on both the primary and add-on credit card. Any default made in payments shall reflect in the CIBIL Report of both the primary and add-on card holder.
Why is it important for me to maintain a high CIBIL Score?
When you apply for any kind of credit, whether it be in the form of credit cards, loans, or mortgages, your cibil score is the most crucial factor. A good CIBIL score makes it easy for your credit requests to be approved and also enables you to receive lower interest rates than...
