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Why is credit report important

Why it is important to check your credit report, to know more about good credit report and its benefits, view this powerpoint presentation by IndiaLends.

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Why is credit report important

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  1. Why is Credit Report Important? PowerPoint Presentation on Why is Credit Report Important?

  2. Credit Report ● It contains detailed information on all your credit accounts. ● These accounts are loans or credit cards you hold right now, or have held at any point in your life. ● t is an numerical expression that based on a level analysis of a person’s credit flies.This score is between -1 to 900. It is assigned to you by the credit bureaus. ● It is like a grading of your credit history, classifying it into good, average or bad. ● It is like a report card of your borrowings so far.

  3. What Is A Good Credit Report ● A good credit report is a report that shows mostly positive remarks on your credit history. ● It will also show a credit score of 700 or higher. It means that you have kept up with all your accounts, by making timely payments.

  4. Why is the the Credit Report Important? ● All banks and NBFCs will check it before approving your loan or credit card application. ● Giving credit is risky for any financial institution. They want to be assured that you will be responsible with the money they give you. Thus, any financial institution will want to look at your credit history before giving you any form or credit. ● A good report would mean that they can give you their money

  5. Why is the the Credit Report Important? Other benefits of a good credit report: ● Get almost instant approval on your loan and credit card applications. ● Enjoy lower interest rates on loan offers. ● Be able to negotiate better loan terms. ● You can get the best credit cards easily.

  6. Why Is Checking Your Credit Report Important? ● It is important to keep up with your report because it changes periodically. ● It is updated every few months, as and when the financial institutions report the data to the credit bureaus. ● You will always know your creditworthiness. ● You can improve your credit score if you see it dipping. ● If there are any errors in your report, you can get them corrected in a timely fashion.

  7. Check Your Free Credit Report Via IndiaLends ● You should keep up with your credit report. ● Did you know that you can get your credit report for free online? All you have to do is fill in your basic details, and see your report. It is highly recommended that you see your credit report online at least once every three to four months to stay updated. ● For more information about Credit Report, please browse: www.indialends.com To Know more about Credit Cards, Personal Loans - Browse our blog - https://blog.indialends.com/ to stay updated.

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