Finance Care in India - Credit Card, Credit Score, Fixed Deposits

When you look to avail loans, one of the most common eligibility requirements which you find is a good credit score. Lenders offer you a loan only if your score is 650 or 700 and above. The higher the score the better deals can you find on the loan. The Cibil score depicts your creditworthiness and tells the lender the possibility of repayment of the loan. While many of you know that a good credit score is needed, what you might not know is the fact that there are some factors which affect your credit score. If you know these factors and how you can influence them, you can improve and build a good credit score. So, here are five of the most important factors which affect your credit score – Repayment history The repayment history of your existing debts influences the major part of your credit score. It contributes to 35% of the score. That is why to improve your score you should always pay your liabilities on time. 2. Credit utilization This is th...