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Credit Score: A Short Introduction
The New Indian Express Kollam
|August 11, 2025
A credit score is a numerical representation of creditworthiness, reflecting how likely you are to repay borrowed money.
It's calculated based on your credit history and is used by lenders to assess the risk of lending to you. Credit scores range from 300 to 850, with higher scores indicating better credit. Most common models are Transunion Cibil, Experian, Equifax, etc.
Factors affecting credit score
• Payment history (35%): Whether you pay bills on time. Late or missed payments, or defaults hurt your score.
• Credit utilization (30%): The ratio of credit card balances to credit limits. Lower utilization is better.
• Length of credit history (15%): The age of the oldest account, average age of accounts, and age of newest accounts.
• Types of credit (10%): A mix of credit types (credit cards, mortgages, auto loans) can positively impact your score.
Denne historien er fra August 11, 2025-utgaven av The New Indian Express Kollam.
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FLERE HISTORIER FRA The New Indian Express Kollam
The New Indian Express Kollam
NExT exams not to be implemented soon, deferred for 3-4 yrs, says NMC
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Cloud seeding fails to open up the skies in Delhi
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India skips Turkey national day, to host Cyprus minister
IN a diplomatic signal reflecting the strain in bilateral relations, India on Wednesday stayed away from Turkish National Day celebrations in New Delhi, reflecting the continuing chill in ties over Ankara’s pro-Pakistan stance during Operation Sindoor and its repeated criticism on the issue of Jammu and Kashmir.
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Centre reviews progress on teaching higher edu in Indian languages
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Rahul warns of 'poll theft' bid in Bihar
ARRIVING late but greeted by roaring crowds both at Sakra in Muzaffarpur and Darbhanga, Congress leader Rahul Gandhi touched the hearts of mostly youthful audiences waving Congress and RJD flags amid drizzle on Wednesday.
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