How to check CIBIL or credit score online? Here's a step-by-step guide

 Clix Capital is one of the best non-banking financial institutions to offer you instant credit score check options.  It is free and offers instant checks. If you need to get your credit score check option, here are all the steps:

Visit the official website of Clix Capital website. When you visit the website you will find the section of credit score check option. On the official website, you will find the ‘check your credit score’ option. You will find the option right on the homepage.

For a free credit score check online, option fill up the online form present on the Clix Capital website. When you fill-up the online form, you need to input all the details and information. These details are used by the credit bureaus to fetch your Experian credit score.

You will need to submit the following details:

●        Gender

●        Full Name

●        Date of Birth

●        PAN Number

●        Pin Code

●        Email Address

●        Mobile Number

Check the box that indicates your agreement to Clix Capital’s Credit Score Terms Of Use. It is important to accept all the terms and conditions before submitting the request. You can always read through the terms and conditions of Clix Capital. This gives you a better understanding.  Know How to Calculate Business Loan EMI Online.

Once you click on the “Get Your Credit Score” button, you will need to verify yourself. Without verification through mobile and email id, you will not be getting your credit score. A credit score is a secret financial detail that is available only after authentication.

Verify yourself with an OTP that will be sent on your mobile number and registered email address. 

Enter the OTP number and click on verify.

While your score is being fetched, you will be asked to state your occupation type, employer name, and a monthly income as well. This is additional information but you need to offer all this information to get your score.

After completion of these steps, within 2-3 seconds, you will get a credit score.  It is really easy, instant, and completely free of cost.

Wrapping up

Get a free credit score check free online from Clix Capital that will help you with thr credit eligibility.  Experian credit score helps you to get the best results.

Must Read : When is the Right Time to Take a Business Loan?

How did the myth of checking your credit score online to lower your credit score start?

In India, individuals are not very well aware of their credit scores and credit report. They tend to believe more in myths than understand the reality behind them. There is a very popular myth regarding credit scores check in the loan industry. People very wrongly believe that checking your credit score online will actually lower it. However, no one really knows where this myth started, but eventually, it has become very popular. The reality is that a credit score check online will not damage your credit score at all. Rather, it improves your credit score and helps you monitor it.

Why does credit score checking online not damage your credit score?

When you check your credit score online, it is known as a "soft check’. Soft credit score checks online do not damage or impact your credit score anyway. It is often confused with hard inquiries. Hard inquiries are not soft checks. Hard inquiries are run by loan providers or credit bureaus over the credit profile of an individual while offering a particular line of credit. Hard inquiries damage your credit score because your credit history is verified. However, when you simply check your credit score online, you do not run any background checks.

The benefits of checking your credit score online

The credit score check option is completely free of charge. There are various non-banking companies and digital platforms that offer an instant weak credit score check option. You can get your credit score and credit report completely free of charge without paying anything. Read Here : How is business loan calculated?.

When you check your credit score, you are able to detect various errors and mistakes present in your credit report. If you are working on your credit report but still get a low credit score, it is because of the errors present in the report. Unless you check your credit score, you will not be able to understand and detect the errors. No matter how much you want to improve your score, these errors will damage your credit score further. Must Read : Does the credit score get affected when we check our credit report online?

Checking your credit score will help you improve your score from time to time. It helps you track your score improvement and check all the improvements that are taking place. It is important to check your credit score before you apply for any line of credit. It helps you to understand your credit eligibility so that you know whether you are eligible to borrow money or not.

Wrapping up

Check your credit score on the Clix Capital website to get the best loan available in the market. Check your credit score online with the help of digital platforms and get your score instantly.

 

What are the factors that are considered when calculating a credit score?

 Are you planning to buy a home next year? If so, you need to start working on your credit score. A credit score check is one of the best ways by which you can prove your creditworthiness to get a home loan approval. To make the borrowing experience easy and affordable, you need to build your credit score on the following factors:

Credit accounts need to be kept open, even when you do not use them. It is very important to let your credit accounts, like credit cards with a long credit history, be open so that you can improve your credit score. The longer your credit history, the better your chances of improving your credit score. Therefore, even if you do not use a credit account, you need to keep it open.

Payment history and a clean track record are two of the best ways by which you can improve your credit score really fast. If you want a credit score of more than 750, you need to make sure that you are making timely payments without any delays. If you were forgetful regarding making the payments, you need to automate them so that, without even your knowledge, your account gets debited with the required bill payments.  Learn how to get a business loan.

If you are applying for multiple loan applications within a very short span of time, it will be difficult for you to improve your credit score. If you need a credit score above 750, you need to make sure that you stop applying for multiple loans, even if it is necessary. The reason is that every time you apply for a loan, the loan provider will run a hard inquiry check on your credit history, which dings your credit score by 50 points. This way, you will end up with a low credit score and you will not be able to borrow at the time of need. Must Read : Loan Talks.

Keep overdue or outstanding credit card and monthly instalment bill payments to a minimum. It is very important that you avoid making a minimum payment, even if there is an option. If you are trying to improve your credit score, you need to make sure that you are paying the full bill amount without keeping any outstanding. It will actually help you to build your credit score in a faster manner.

Wrapping up

Your credit score is an important factor that helps you get a loan easily and in an affordable manner. Start your credit score check today to improve and track your credit profile.

 

7 Steps Towards Maintaining A Healthy CIBIL Score

 CIBIL score matters a lot when it comes to loan approval. Below are the steps that will help you maintain a healthy CIBIL score.

Pay your bills on time

If you want to improve your credit score with time, you need to keep a clean track record. Payments constitute more than 25% of the credit profile. It is critical that you automate your payments and pay your credit cards on time.

Do not keep any outstanding or overdue bills

When you get a bill, you need to pay off the entire bill in its total amount without keeping any overdue or pending amount. There should not be any outstanding or overdue pending amounts on your credit card bills.

Maintain a balanced credit mix

You need to have a balanced credit mix with the help of secured and unsecured loans. Do not completely saturate your credit profile with the help of only one type of loan. Secured and unsecured loans need to be balanced in order to improve your credit score. Read Here : How is business loan calculated?

Maintain a balanced debt-to-income ratio

If you have existing loans, make sure you pay them off before taking a new loan. If you are trying to build your credit, it is important to have a balanced debt-to-income ratio. Why not? It will help in improving our credit score with time.

Keep your credit account open

It is very important to keep your credit account open that has a long credit history. If you have a credit card or loan with long transaction history and a clean track record, you need to keep the credit account open.

Must Read : 6 Obvious Reasons To Check Your Credit Score Regularly

Do not apply for multiple loans

It is very important to stop applying for multiple loans. Within a short span of time, do not apply for multiple loans, as that can damage your credit score immensely. Make sure you work on the loopholes other than applying for multiple loans. The hard inquiries run on your credit profile will damage your credit score.

Keep your credit utilisation ratio below 30%.

It is very important for you to keep the credit utilisation ratio. The credit utilisation ratio is the ratio between the total credit limit available and the limit that has been exhausted. If you exceed the available credit limit, it will damage your credit score.

Wrapping up

A credit score is an important factor for borrowing. Make sure you start with your credit score check in order to get an affordable loan.

 

What’s Your CIBIL Score? Why It Matters And How To Improve It

If you decide to take any kind of loan, you will come across the term “credit score”.  A credit score is a 3-digit number that represents the creditworthiness of an individual. Whether you borrow from a bank or a non-banking financial company, you need to have a good credit score. You need to improve your credit score over time after you check your credit score online in order to get the best benefits from taking out a loan.

What is a credit score?

A credit score is a 3-digit financial number that represents the financial health and credit history of an individual. The score is unique to every individual based on loan repayment history, clean track record, credit utilisation ratio, credit mix, and credit account. A good credit score always makes you eligible for easy borrowing and affordable loans in the market. Know How to Calculate Business Loan EMI Online.

Read More: Do you know why the CIBIL score is important for personal lending?

The significance of a credit score

●        When you have a good credit score, you automatically get a low rate of interest. There is no risk in borrowing when the individual has maintained a clean track record in the past. Considering that, the loan provider will always offer you the best rate of interest whenever you take any kind of loan in the market.

●        With a good check on credit score, you can get instant approval on any kind of loan that you want. There will not be any possibility of rejection from financial institutions.

●        A good credit score makes you eligible for high-value loans like housing and car loans.

How to improve your credit score?

●        Make your payments on time. Make sure you pay your credit card bills and loan repayments by the due date. It is important to automate the payment option in order to build your credit score.

●        Do not keep any outstanding or overdue credit card bills pending. It is important for you to pay the full amount of the bill on time so that you improve your credit score with time.

●        Do not apply for multiple loans within a short span of time, as the hard inquiries on your credit score will damage it. If you have faced rejection, start working on your credit score by doing something other than applying for multiple loans.

Wrapping up

Check your credit score online by visiting the official website of Clix Capital today. When you check your credit score, it will help you monitor and track your credit score.

 

Understanding the key features of your CIBIL Report

 

A credit report is a detailed summary of financial and personal information about a particular individual. It is a financial report where every small and large financial activity is reported. In a credit report, every transaction and financial detail are mentioned. When you do CIBIL score check, you will find every single detail about your loans, credit cards, and every transaction or loan application. It helps the loan provider determine the credit health and behaviour of an individual. Based on your CIBIL score, the loan provider will decide whether to approve or deny your loan application.

Payment: Payment is an important factor that is mentioned in the credit report. It constitutes more than 25% of the credit score impact. It is vital to have a clean track record of payment on all your credit accounts. If you delay or miss any payment, it will be reported on your credit report. Therefore, you will find your credit score damaged. When you check your credit report, you will find all your payment transactions. For business loan interest rate visit : business loan interest rate.

Credit enquiries: Credit enquiries are the hard enquiries that are run by the credit bureaus and financial institutions. When you apply for a loan, the financial institutions run a hard enquiry. These hard enquiries are not good for your credit profile. It damages the credit score by dipping a good number of points. Your credit score has all the records of credit inquiries that have been on your credit profile as it impacts your score.

Credit utilisation ratio: This is the ratio of the total credit limit offered to the credit limit used by the individual. If you have over utilised the credit limit, it will be on your credit report. Your credit report has every detail mentioned regarding the credit limit usage. Do not exhaust your credit limit completely if you are trying to improve your score.

Credit mix: A credit report's credit mix is an important factor.It determines whether you have a balanced credit mix or not. This means whether you have both secured and unsecured loans or not. Having only secured or unsecured loans will not be a good balance in your credit mix.

Read Here : What Is a CIBIL Score for Credit Cards and How Can It Be Improved?

New credit cards and loan accounts: The credit report includes information about all new credit cards and loan accounts. It is mentioned in your credit report. All the active, closed, and pending credit accounts will be mentioned in the credit report.

Finishing up

To maintain your CIBIL score, it is important that you check it and conduct a CIBIL score check free online regularly. It helps you monitor the changes in your credit report and detect errors.

 

Top Reasons for a Low CIBIL Score and How to Raise It

A low CIBIL score makes it difficult to get a loan at an affordable rate. Without a good credit score, it becomes difficult to get loan approval. Having said that, it proves how important a good credit score is for financial independence. Borrowing is a vital way to arrange instant funds for needs and emergencies. If you do not have a good online credit score, you are not able to enjoy the instant borrowing experience.

There are various financial and credit activities that damage the credit score. However, in contrast to that, there are activities that build credit too. If you are planning on a high-value loan, you need to improve your score. What are the top reasons for having a low credit score? How to improve it? How to check credit score? Let’s find out in a detailed manner.

The most common causes of a low credit score

●        Poor repayment history: Repayment history is an important factor in determining credit score.If you do not have a clean track record of repayment, you will have a low credit score. Payment is one of those factors that are considered important.

●        Higher use of credit utilisation ratio: The credit utilisation ratio is the ratio between the total credit limit offered and the credit limit utilised by the individual. It is a bad credit habit to utilise 100% of the credit limit offered by financial institutions. When you do so, it becomes difficult for you to get a good credit score.

●        Multiple hard enquiries: Hard enquiries are usually run by various loan providers when you apply for multiple loan applications. At a single moment, if you apply for multiple loans, hard enquiries damage your credit score. This is one of the most common reasons why you have a low credit score. For Business Loan visit : business loan apply online.

●        Multiple CIBIL report errors and comments: Credit report errors and incorrect entries are frequently the cause of a low credit score.It is possible to get a low credit score even with good credit habits. This is one of the probable reasons.

●        Mismanagement of credit mix: A healthy credit score is dependent on credit mix. leads to credit score damage.

Boost your credit score

●        Pay your bills on time. Maintain a healthy loan repayment history with a clean track record.

●        Even if you don't use your credit cards, keep them open. The longer your credit history, the higher your credit score.

●        Do not keep any outstanding or overdue amounts pending on your bills and monthly installments.

●        Avoid applying for multiple loans within a short span of time.

Summing up

How to check your credit score?  Check your online credit score by visiting the official website of Clix Capital. You get an accurate online credit score instantly, completely free of charge.

Must Read : Six Obvious Reasons to Check Your Credit Score Regularly

Here’s How Your Gold Ornaments Can Help You Get Access To Credit

There's a lot of popularity about a gold loan in India. There are many families that opt for a gold loan to get instant cash to meet any need or emergency. A gold loan is indeed one of the fastest ways to attain instant cash in your account. However, there are many that feel that giving away gold is not a good choice. Gold is taken as a security or an asset for Indian families. It is important to get access to instant credit at the time of an emergency or any instant need. With gold ornaments, one can attain easy funds within 24 hours. It is a safe way, and quite affordable. Find out everything about a gold loan before you choose to go for it. 

What is a gold loan?

A gold loan is a secured loan, where you keep your gold ornaments as collateral or security with banks or non-banking financial institutions and in return, you take the money of the same value. If you pledge gold ornaments of 2 Lakhs, you pay the amount back in cash. This is not selling your gold way. After you receive the money, you pay the EMI along with the interest amount. When you complete the debt repayment, you get back your same gold ornaments. The rate of interest is low as it is a secured form of a loan.

Documentation for gold loan

It is very easy to get a gold loan. You need to submit documents like an Aadhar card or Pan card. As you are already pledging your gold ornaments there is no need for approval or documentation process. It is easily done. For Business Loan visit : business loan apply online.

The interest rate for gold loan

A gold loan is a secured loan and the rate of interest is always low. However, there are various banks and non-banking financial institutions offering gold loans. Hence, it is recommended for you to have a check on the loan providers before you choose the lowest rate.

Use a gold loan to build credit

Yes, you can use a gold loan to build credit. When you make the payment for getting back the gold ornaments, these payments are reflected in your credit report and improve your credit score. You can get your free credit score check done from Clix Capital to monitor your score.

Wrapping up

It is important to track and monitor your free credit score. Gold loan is usually taken by those that do not have a good credit score to take a personal loan. Start your free credit score check today and keep yourself updated about your credit eligibility.

Must Read : The Benefits Of Joint Home Loans

Reasons Why Your Home Loan Application Getting Rejected

 

Getting a home loan application rejected means a significant part of your happiness goes away. The joy of having own home is undoubtedly the best thing for an individual. It is not just happiness, but financial stability and you get to secure your future with a home. A home is a property and probably the biggest investment or possession. However, a home loan is a high-value loan and probably this is why the number of rejections is high. Since the amount even exceeds crores, the eligibility screening is really strict. Any issue or matter of instability in finance, your home loan application is straightaway rejected. Find the probable causes why a home loan application can be rejected:

●     Forged documents: For a home loan, the documents are the most important aspect. The property and NOC papers from the property dealer or owner are strictly checked. If you forge any document or you are not able to provide any piece of document, your loan application gets rejected.

●     A low credit score: A low credit score, which is probably below 600 or 650 will not provide you with a home loan. Since it is a high-value loan the need for financial stability and good health is important. One needs to maintain a good credit score in order to get a home loan. This is one of the common reasons for home loan rejection.

●     Low income: It takes years for individuals to buy a home. Why so? This is because a home loan takes away a huge chunk of income because the EMI is always high. You need to have a good income in order to accommodate a home loan from your income. Therefore, if your income is not stable and good enough, the reason for the rejection of a home loan is simply this.

●     Property issues: If you are trying to buy a property that is not good, has a lot of legal matters, and negative influence, the banks will not offer you a loan as there will be a risk. A bank or an NBFC is always going to sponsor a property that has a reputed builder, a good location and everything else looks safe and sound.

●     Income stability: The source of income, be it employment or business should be stable. With an unstable source of income, getting a home loan will not be possible.

Wrapping up

Do you know the best way to get a home loan? One needs to maintain a good credit score and have a stable income. This makes it very easy for you to get a house repair loan or home loan from Clix Capital at the best rate of interest.

 

Must Read : Everything You Need to Know About Credit Scores

Have You Checked CIBIL Score for Personal Loan?

When you meet a crisis or any sort of financial void, you need a personal loan. A personal loan is one of the most flexible forms of solution that helps you to meet all kinds of expenses and emergencies. However, when you decide to take a personal loan you need to make sure that you keep your credit score on the right track. The credit score will help you get easy approval and disbursement with a low rate of interest. This means you can find the right loan to keep your needs fulfilled. A personal loan gets easier with a good credit score. You must do a free credit score check online from time to time.

How can you check your credit score?

A free credit score check option is now available on all digital financial platforms. This will help you get an instant and free credit score check. When you visit Clix Capital you will get the option on the website to find the credit score option. You need to input all the information and details like Pan Card and Aadhar card to start checking your credit score. Within a few seconds, you will get the credit score free of cost.

Why check my credit score?

A credit score check will help you stay updated on your credit score so that you can borrow. It is an eligibility criterion that is Checked by the loan provider in priority to make sure that the right borrowers are getting the loan. A good credit score will help you with various perks like instant approval, a low rate of interest, and a good amount of loan. When you check your credit score, you can also find out the errors to work on them.

What are the perks of getting a good credit score for a personal loan?

If you need a personal loan, you can enjoy it with a good credit score. When you have a credit score of more than 750 you will be able to enjoy various perks and benefits. Things like a low rate of interest and instant approval can help you with a smooth borrowing experience. You need to make sure that it helps you with the right borrowing needs. You can enjoy an online and instant personal loan when you have a good credit score. So, when you need an affordable loan you need to have a score that is more than 750.

Finishing up 

A free credit score is very important when you are taking a personal loan. With a free credit score check online, you can instantly get your credit score to improve or detect errors in the time to make improvements in the credit score.

Must Read : Everything You Need to Know About Credit Scores

What is a good credit score and how can you maintain it?

The perks of having a good credit score are immense. You will not really understand until you maintain a good credit score and enjoy a smooth and hassle-free borrowing experience. It is an amazing way of handling the perfect borrowing experience without any expensive loan options or facing rejection when you need funds the most. A good credit score is above 750 and you can easily get any sort of loan when you have a score more than this. It is not an overnight miracle, but good credit activities will lead to a good score. If you want a good credit score, you need to follow certain things. You need to do a credit score check online for free. Here’s the credit score range that helps you to understand where you stand:

Credit score range

300-549: Having an Experian credit score in this range is not ideal in the slightest. There is a high chance that your loan application will get rejected. Even if it is rejected, you will always get a high rate of interest. You need to improve.

550-649: A credit score in this range is not a good one, but an average one. There will be problems in credit approval and the rate of interest will be high.

650-749: This is a good credit score and you may face little to no problems at all. You still have good areas of improvement. Apply For home improvement loans.

750-900: A credit score in this range gives you the best borrowing experience. You have the ball in your court and it will give you a smooth approval and a low rate of interest.

How to get a high credit score?

●        Pay your bills on time. Payment is a vital component in building a good credit score. You need to make sure you are paying your bills by the due date. It will be helpful for you to get a good score within a short period of time.

●        Don’t keep overdue: No overdue and outstanding is allowed in bill payments. You must pay the entire bill amount without paying just the minimum amount. This will keep you overdue and will harm your credit score.

●        Don’t apply for multiple loans: When you keep applying for new credit, you harm your credit score. The hard enquiry will decrease your credit score.

●        Don’t close credit accounts: Make sure you keep your credit accounts open. The long credit age is good for a perfect credit score.

Finishing up

Credit score check free online to stay updated about your current Experian credit score. It will help you be credit-ready so that you can apply for any credit account when you need instant funds.

Read More : Tips to increase your home loan eligibility