Why is credit report important

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Why is Credit Report Important?

• PowerPoint Presentation on Why is Credit Report
  Important?

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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 persons 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.

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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.

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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

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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.

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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.

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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.