A bad credit score can get your loan application rejected. It can even hamper your chances for a getting through private limited companies, MNCs or workplaces for a job. Moreover a bad credit score may even dim your chances of taking a house on rent. Even if you are able to secure a house on rent or get loan or credit card application accepted, the amount you pay for the same would be much higher than you would have been eligible for otherwise.
Scores lower than 650-700 are considered bad or not good enough to get loans easily or at a cost-effective interest rate. For keeping your credit score above 700 and 750, closer to 900, you need to follow an organized financial plan, wherein you make regular payments, do not miss or delay repayments or EMI instalments, do not make too many enquiries for credit report now and again along with avoiding shooting too many loan enquiries at a time.
Subscribe to our newsletter
Akshar Blue Chip IT Park, 703, Thane - Belapur Rd, Turbhe, Navi Mumbai, Maharashtra 400705