Cibil Score: CIBIL score gives information about your financial condition. If it is called in simple words the grade system of your debit, credit, and liability, then it will not be wrong. Whenever you go to take a loan from a bank or a government institution, first of all, your CIBIL score is taken out.

If your CIBIL score is negative, no bank approves your loan application. In such a situation, you have to take a loan from outside at a crazy rate of interest, and your financial condition becomes worse. In such a situation, we are giving information about what affects the Cibil Score, which you should read.

Loan repayment history

If you buy something on EMI with the help of a credit card from an e-commerce site or anywhere else and you miss any EMI, then your loan re-payment history gets marked negatively. Which affects your CIBIL score. At the same time, sometimes paying the loan before time also has a negative effect on the repayment history.

Use of Credit Card Limit

Today, everyone has a credit card. In such a situation, while checking the CIBIL score, your credit card ratio is also checked. Understand the credit card ratio through an example. Suppose your credit card limit is one lakh rupees and you make a purchase of more than 30 thousand rupees, then your credit ratio will be considered bad. According to experts, one should spend a maximum of 30 percent of the credit card limit.

Credit Miss Report

"Credit Miss Report" is a document in which it is told that you have not paid the loan on time. This report can be created by a credit bureau (eg, CIBIL, Experian, or TransUnion) and is used by banks before giving a loan. If your credit miss report is bad, then you should immediately pay the outstanding loan on time.