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Weightage of various Repayment Aspects to Your Credit

It is, however, important to notice that while a number of these factors could also be weighed more heavily than others, no factor works independently of the others. In India, the credit score typically ranges between 300 and 900. While the Experian credit score itself may differ across the bureaus, typically an honest credit score would be above 700. https://www.clix.capital/check-credit-score/

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Weightage of various Repayment Aspects to Your Credit

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  1. Weightage of various Repayment Aspects to Your Credit A credit score (numeric summary derived from one’s repayment history) summarizes the historical credit information on a credit report by assigning a number to it. There are specific components from one’s credit report that shape/ determine their credit score.

  2. Payment History (35%): • Your payment history alone makes around 35% of the entire credit score. No got to say, it's extremely important to be according to the payment of your bills. Otherwise in addition to paying fine for late payments, you'll also find yourself ruining your credit history.

  3. Total credit (30%) No matter the amount you owe is little or big, you must try to get obviate it because it comprises around 30% of the credit score. Minimization of outstanding debt helps improve one’s credit score.

  4. Length of credit history (15%) • The length of your credit history makes up almost 15% of the entire credit score. Also, the amount one has been using one’s credit has a crucial bearing to the score.

  5. Demographics (10%): • Things like your age, location of your residence and therefore the number of IDs (such as PAN card, voter ID, etc) you own also help determine your credit score. This comprises nearly 10% of one’s credit score.

  6. 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://www.clix.capital/check-credit-score/

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