Which Credit Report Errors are not worth disputing?

Remember that only those errors should be disputed which have a valid reason behind them. If you want negative but accurate information removed from your credit report, you will need to negotiate with your creditors for the same. Minor errors like a misspelled former employer or an outdated phone number — don’t affect anyone’s assessment […]
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Which Credit Report Errors should you dispute?

Some are major errors which affect your credit score. When you come across these kinds of errors, it is better to raise a dispute for it as early as possible. The most concerning errors are those that could hurt your scores or the ones that suggest identity theft. Those include: Wrong account status (such as […]
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How Credit Bureau or CIC works?

Member banks, credit card companies and other financial institutions send financial data of registered individuals as well as commercial institutions to the Credit Bureau on a periodical basis. This Credit Bureau uses the financial information to create a credit report. This credit report contains a person’s personal information, payment history, number of accounts, default (if […]
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Benefits of Credit Reporting System

The Credit Bureau collects data such as a database of bounced cheque, payment default and repayment habits etc from both financial institutions such as banks and credit card companies and a variety of NBFCs (Non–Banking Financial Company). Based on that, they categorize information in Negative Data and Positive Data. In study, researchers have found that […]
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Facts and Misconception about Credit Bureaus

Myth – CIBIL is only Credit Bureau in India. Fact – CIBIL is India’s first Credit Bureau but is not India’s only Credit Bureau. In common, Credit Report and Scores in India are also referred as CIBIL Reports and Scores. There are 3 other Credit Bureaus licensed and regulated by RBI. Equifax Experian CRIF High […]
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Parameters considered for loan approval

Credit scores are crucial when it comes to getting a loan or credit card. Although credit score is the first thing to be assessed by an underwriter while assessing your loan application, many factors are considered depending on your information. An underwriter who assesses the risk associated with the loan application to protect banks from […]
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Understanding Credit Score

Maintaining a good credit score is important as it is a powerful tool when it comes to loan approval or credit card approval. Some credit scoring is different in different models but in nutshell, higher score is always better to stand out. In general credit score falls under below ranges: 300 to 550 Poor You […]
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Facts and Misconception

Below listed are some common myths people fall prey to when it comes to credit report, we are here to burst your myths and provide facts against the same so that you can have an idea when you come across any of these. Myth – If you obtain your Credit Report you would get your […]
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Who can view my Credit Report?

It is not just potential lenders or creditors can view your credit report, but employers may also access your credit report. Your credit report and credit score can be assessed by several kind of organization such as– Banks check your credit report when you approach them for any credit facility. Even if you opt for […]
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The Negative Flags

Current Balance (Old due) It is the amount you still owe on a particular credit facility. Lenders typically take 30–45 days after payment is received to update this information to the Credit Bureau. For example, You have taken a two wheeler loan of Rs. 50,000 in 2011 and as on today’s date if some amount […]
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