Harshala CPlease your CIBIL report and score. CHeck if there are any delinquencies on your report. If yes, you will have to pay those outstanding dues as well. Some banks give a loan against Fixed Deposit. You may avail that to clear your outstanding dues.
DEVICHANDRANWHEN A PERSON IS ABLE TO PAY ONLY INT ON CREDIT CARDS, HOW DO YOU EXPECT ANOTHER FIN INSTN WILL BURN ITS FINGERS BY LENDING FURTHER
Harshala CPlease evaluate if the additional funds that you have will fetch higher rate of interest/earnings than the rate of interest that you are paying for the loan. If not, then pre pay your loan.
Harshala CYou can improve you credit history and score by making timely payments on your loan EMIs and credit card dues.
Harshala CAdditionaly, • Maintain a healthy mix of credit• Apply for new credit in moderation• Monitor your co-signed, joint accounts monthly. • Monitor the loan accounts for which you have stood as a ‘guarantor’• Review your credit score and history frequently
Harshala CYes. CIBIL collects credit information pertaining to borrowers from banks and credit institutions. It then collates this information into credit reports and provides them to banks to help them evaluate risk while lending to a consumer. So the CIBIL report will have details of all the loans and credit cards availed by a consumer.
Harshala CNA or NH status implies- a) You do not have a credit history or you do not have enough of a credit history to be scored, i.e. you are new to the credit systemb) You do not have any credit activity in the last couple of yearsc) You have all add-on credit cards and have no credit exposure
Harshala CHaving said that, It is important to note that these Scores are not viewed negatively by a lender and the lender will have different credit policies for consumer who don't have a score.