A credit score is one of the most important parameters to judge the creditworthiness of a borrower. All reputed banking and non-banking financial institutions ask for a credit score from the borrower before processing their loan application. It is safer for financial institutions to lend money to individuals with a good credit score as they are less likely to default on their loan repayments. Borrowers who have a poor credit score are highly likely to default on their bill payments given their past track record. A credit score test is like a litmus test for lending institutions. One can easily make a credit history examine on line before opting for a loan to have a better idea.

What is actually a credit history?

The financing get can be defined as a numerical term that quantifies another person’s creditworthiness based on an extensive research of the credit score. A credit rating are acquired after proper comparison of one’s subject’s credit report off recognised and you may reputed credit bureaus. Continua a leggere