What Is Credit Rating Or Credit Score?? Know Difference, Benefits, Score Between Two

What Is Credit Rating Or Credit Score

While applying for loan or credit from any Bank or financial institution, you must acknowledge about What Is Credit Rating Or Credit Score? If you are not update about the Credit Score or Credit Rating, then you won’t be able to prove your credit worthiness. So for this, we are discussing about the Factors that can affect your CIBIL Score, Difference, Benefits and Score Between Two on this webpage.

Credit Score or Credit Rating is a particular percentage which analyzes the worthiness of the borrowers. Those people who are still in confusion about the What Is Credit Rating Or Credit Score, then this page is specially designed for you. There is a line difference between in Credit Rating and Credit Score which is discussed below. You may also get the remain information that’s What’s The Difference Between Two and factors by tapping on the presented link on this page.

What is a CIBIL or Credit Score?

• CIBIL Score or Credit Score is an arithmetical instrument which check the credit worthiness and capacity to repay loans of the borrower.
• This tool is used by the Bank or financial institution or any other service by which you are going to Credit Information Bureau of India Limited analyzes your CIBIL score as it gives the Credit score or CIBIL Score is a 3 digit number and it ranges from 300-900.
•  Appliers for the loan and credit having CIBIL score more than 750 seems as a Good CIBIL Score.
• In case of good CIBIL Score, there will be many lenders who will be willing to lend to you.

       Check From Here >>> KYC Documents For CIBIL

What is Credit Rating?

Credit rating is an analysis of the credit risks while giving the loans to the borrower. Credit rating express the information of borrower in alphabetic order. These ratings based on detailed analysis are published by various credit rating agencies like Standard & Poor’s, Moody’s Investors Service, and ICRA, to name a few. If you have a low CIBIL score then it can be improved by the Credit ratings within a few months. Through credit rating, borrower’s credit worthiness is expressed in letter grade format.

Make A Note Of

Credit rating or CIBIL score is a detailed report of the past borrowing or lending and credit worthiness of the person which is collected by the balance sheet and profit and loss statement sheet. If you are know more about What Is Credit Rating Or Credit Score, then you are advised to go through the provided link on this page. Thankyou!!