Credit Score What are the Ways to Improve It

Credit Score: What are the Ways to Improve It? Credit Score, a term that has to be in the mind while opting for a loan. Let's take a look at a few of the things you need to bear in mind and follow before your dream shapes up.

What is a Credit Score?

A credit score number ranges between 300-900 and reflects a borrower's worthiness to maintain good credit and reputation with bankers. The higher the score the greater chances of pleasing the lender.

Thus, a credit score is based on one's credit history that includes a number of open accounts, levels of debt, repayment tendencies and other factors. So, bankers or lenders use credit scores to assess the potential that the borrower will repay loans on time.

How Credit Score Works?

Reciprocally, a credit score check of 700 or above is good enough and often results in a borrower receiving a lower interest rate. Credit Scores greater than 800 are eligible for loan. They are eligible for a loan. Let's have a look how every creditor defines credit ranges for a credit score.

How is your score calculated? • The payment history counts for 3035% of a credit score and reflect whether a borrower pays their dues on time. The total amount owed counts for 25%-30% and takes into account the percentage of credit available to a person that is currently being used. • The type of credit used counts for 7%-10% of a credit score and shows if the borrower has a mix of instalments credit which includes car loans or home loans and credit cards.

How to Improve Your Credit Score? • Up your credit line: If you have credit card accounts, call and inquire about a credit increase.

Clix Capital, your one-stopshop has the best solution for all your credit score queries, credit increase and loan support.

Clix Capital Services Pvt. Ltd. Address:

901b, 9th Floor, Two Horizon Centre, DLF Phase V Gurgaon, Haryana, India – 122002 Phone Number: 1800 200 9898 Website: https://creditscore.clix.capital