credit score
5 most reason to effect your Credit Score

A Credit Score represents how likely you are to repay a loan on time

5 factors that determine your credit score

  • Payment History (35%) – A track record of payments to credit accounts.
  • Overdue Amount (30%) – The amount left unpaid even after the due date.
  • Credit History (15%) – A record of debt and payment of debt over a period of time.
  • Credit Mix (10%)) – The variety of loans file, like credit cards, home loans, etc.
  • New Credit (10%) – The number of new credit accounts and hard inquires made by the lender.

READ REGULAR BUSINESS NEWS? CLICK HERE TO DOWNLOAD APP

Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked...