Livemint: Live Mint settlement with CRIFF high mark; Free as Free Credit Score Checking
Livemint: Livemint has announced a free credit score service for its readers in collaboration with RBI’s credit bureau Crif High Mark. This gives readers a live mint opportunity to check their credit score at no cost. It provides an important tool for readers’ economic understanding of the scheme.
Meaning of credit score..
Credit score, three-digit number. It expresses the credit worthiness of an individual. Credit bureaus, such as KRIF High Mark, assign credit scores based on credit history and reported behavior. KRIF High Mark is one of the RBI approved credit bureaus in India. It plays a vital role in providing information to individuals and financial institutions.
Why is your credit score important
- Key Financial Indicators: Credit score is mandatory when applying for a credit card or loan. If the credit score is high, the chances of getting a loan are higher. Banks and financial institutions offer low interest loans to people with good credit scores. If there is a credit score, the interest rate is higher or refusing to apply altogether.
- Mass Consumption: Apart from banks, financial institutions, insurance companies and government agencies also take credit score into consideration to assess credit worthiness.
- Empowerment: Knowing your credit score can help you make informed financial decisions and effectively manage your credit health.
check your credit score
You can check your credit score for free through Live Mint. You can find your credit score through this link www.livemint.com/credit-chore. Before this you will have to provide your name, mobile number and e-mail.
should be checked regularly
Regular credit score monitoring is essential. Reason ..
- With information: Understand your eligibility for the loan, the terms you receive.
- Identify errors: Identify and correct mistakes in your credit report.
- Financial Planning: Track the factors that affect your score to better manage loans and credit cards.
Furthermore, checking your own credit score will not have any negative impact on the credit score. Self-assessment does not affect the score. So experts recommend reviewing at least every three months to be updated.
