Credit Score and its significance

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Credit Score and its significance

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Know about the important factors of credit score & how it is related to Home Loans. – PowerPoint PPT presentation

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Title: Credit Score and its significance


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Credit Score and its Significance!
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  • First of all, let us understand what is meant by
    Credit Score and why is Credit Score vital to
    obtain any type of Home Loan.
  • A score which can be expressed in digits and
    which will help in calculating the
    creditworthiness of an individual based on
    his/her credit history is acknowledged as Credit
    Score.
  • Lenders employ this credit score in taking a
    decision by analyzing the
  • creditworthiness of a person, and the score
    is considered if it is in the
  • range of 300 to 900.
  • With this kind of appropriate credit score, you
    can take a home loan to buy Flats for Sale near
    Guntur, which are in high demand.
  • If you have a good credit score then you can buy
    any type of Apartments which are in sale near
    Guntur which are having high demand.

3
Credit Score
  • Credit Score has a fundamental role in
    influencing the probability of getting a Home
    loan or not getting it. There are numerous ways
    of improving credit score.
  • It is possible if you pay your EMIs and credit
    card bills in time is one of the central factors
    which will facilitate you to obtain a home loan
    in the best time. Without a doubt, a good Credit
    score will be helping you extensively to obtain a
  • home loan.

Buy Flats in Vijayawada
4
What are the ways to improve your Credit Score?
  • Checking your Credit Report Regularly It is an
    important habit to confirm your Credit report
    once for every twelve months, and this will help
    you track errors if any and you can disagree with
    them within a short span of time.
  • Making timely Payments Constantly make sure
    that you make payments in/on time without delay
    as it is the primary aspect of improving your
    credit score.
  • Constantly attempt to set out payment reminders
    in your email or your phone.

5
  • Dont close your Credit Cards Never close your
    previous credit cards. Make little purchases
    every month that will help you out to preserve a
    fine track record related to payment.
  • Be Responsible for credit usage It is the
    crucial aspect which will facilitate you to
    obtain a Home loan.
  • At times when your credit score is out of
    control, you neednt panic instead, try and pay
    off your pending bills which would help you in
    receiving your home loan.
  • Importance of Credit History You can build your
    credit history by making appropriate transactions
    and payments by credit usages like car loans,
    credit cards or other personal loans, the
    borrowers can be sure of your credit record when
    you apply for a Home Loan.
  • Well-timed payments are one of the most
    important factors in inspecting your
    creditworthiness.
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