We at Scocre aims to provide financial assistance to people across the world so that they could have access to their score and accurate credit report to apply for affordable loan and credit card offers to lead a higher quality of life. Scocre is registered with the top bureaus of India and thus, are timely updated with the details about individuals’ credit score and credit reports. We at Scocre help our customers to thoroughly assess their financial score & health in order to make some financially optimized decisions, while making them to understand the importance of being in a good shape. We believe this could only be possible if you follow sound and effective financial strategies and this is what we’re here for.
Scocre. No doubt we all love to have a credit card, in fact, it is our best friend these days.
With an array of expenses, it is easier to handle monthly budget with the help of a credit card. However, there are always two sides of a coin. While having a credit card eases down the financial burden, if not handled responsibly, it could even have reverse effect on your financial health. Therefore, it is significant to utilize your available credit limit with care if you really want to continue enjoying your financial freedom. So here are few smart ways to deal with your credit card to get the maximum out of it.Ask for higher limit – Every credit card company has set criteria to issue credit limit for the users.
Pay your dues in full – Most credit card users often carry heavy outstanding dues to subsequent months not knowing that this brings dire consequences to their overall financial health. Scocre. Credit cards have become a significant instrument to maintain our financial well-being.
In fact, credit cards support to build your credit scores. However, there’s one thing that you need to look at while using these cards and it is the credit utilization limit. Yes, you read it right. Scocre. Does your credit scores going down for a long time now, and you have no idea why is it so?
If yes, then you must not be paying the needed attention to the factors of your credit report. Scocre. Whenever you apply for a new loan, the first thing that the lenders check is your credit report to determine the degree of credit risk involved.
However, not many are aware of the term and hardly know about how it impacts the chances of loan approval. Basically, credit risk is the possibility of loss either due to default payments or contractual obligations. The risk is determined using the credit scores to access how responsible the applicant has been with their credit accounts and how timely has made the repayments. Degree of risk is always associated with the cost of borrowing as applications with higher risk are often granted loans or credits on higher interest rates and vice versa. Scocre. Scocre. Well, you are already familiar about how important it is to maintain good credit scores for a financially healthy future.
Being a responsible person, you must be checking your credit report from time to time and while reading the report carefully, you must have noticed a credit history section. Scocre. While applying for a new or loan, potential lenders always check for an applicant’s credit history to determine how responsible a person is towards his/her finances and whether he/she is eligible for a new line of credit.
A credit history is basically the repayment record of loan EMIs, credit card bills and other types of debt. In fact, not just the lenders, but today even the employers, insurance companies, and home owners, too, check an individual’s credit history to determine the financial standing. Scocre. Ever wondered why so much emphasis is given on a healthy credit history and why it is considered key to your future financial well being?
Well, if defined briefly, it is a reflection of a borrower’s ability to repay his debts. It is a detailed record of an individual’s financial habits and provides an opportunity to the lender to assess whether the borrowed amount would be returned without any trouble. Let us take a quick look on some ways that can help you have a rocking score chart and safeguard your credit history. Pay off outstanding dues on credit cards: The facility of credit cards is undoubtedly a blessing as long as you don’t allow the outstanding amount to accumulate month-after-month.
Additionally, if you fail to pay the entire bill amount on time, you could land in a debt trap and your monetary situation could worsen soon. Scocre. Credit report is a significant tool to access your financial standing, featuring important details regarding your loan accounts, payment history and credit utilization ratio.
On the basis of these factors, credit bureaus generate your credit scores. When applying for any new loan or credit card, your credit report and credit score are the very first thing that the lenders check to determine your eligibility and creditworthiness. These factors show how responsible you are towards the finances. On the other hand, negative marks such as default payment, bankruptcy and collection accounts could put you in a risk category and most lenders would avoid sanctioning you the loan and credit.
Scocre. By now, it’s very clear what role does the credit score plays in our financial life.
But, one thing that people still overlook is to check the credit report. In fact, credit score and credit report are pretty confusing terms for many people and thus, most of the times, they skip pulling their credit health reports. Though both the terms serve the same purpose of determining financial health, there is a thin line difference between both.
Let’s understand this with an example. Scocre. We completely understand and agree to the fact that the credit report plays a major part in our financial life and in fact, is the key to unlock affordable loan offers.
Whenever you apply for a new loan or credit card, the very first thing that lenders check to determine your eligibility is the credit report as it gives a clear reflection of your financial health. While we understand the significance of a credit health report, we sometimes skip having the factors in sync, like not having a good credit mix of accounts, and this petty ignorance ultimately have a big impact on the credit scores. That’s probably because we have a little or incomplete knowledge of the key factors, which play a huge role in generating the credit reports. So, before things get out of the hands, let’s get an understanding of credit mix, often the most overlooked factor in terms of financial health. Scocre. It’s definitely a smart move to check your credit report at regular intervals.
However, many people believe that doing so would impact their credit scores adversely as it will pull an inquiry. Although, little did they know that there are basically two types of inquiries – hard and soft, and both have different impression on the credit report. Your credit report is divided into slices and every slice represents a different segment of financial standing. Scocre. Credit cards undoubtedly are great tool to give you financial freedom. But, at the same time, it comes with great responsibilities as well. How you use the card have a huge impact on your overall credit scores. Thus, it won’t be wrong to term credit cards as double-edged swords. Scocre. Whether one opts for paid or free credit score services both represent the borrower’s creditworthiness. Lenders and other potential creditors use it as a measure to assess the individual/ consumer’s ability to pay back the borrowed amount.
The three-digit scores that range between 300 and 900, are a reflection of the borrowers’ financial habits such as how responsible they are is towards making repayments and how well they manage their credit. This means that if the scores are low or are inclined towards the 300 mark, they are considered as poor and the more they are towards the 900 mark or in the 750 to 900 bracket, the better they are.
Overview Whether paid or free, the scores play an important role in the approval of loans. People can also avail free credit score services whenever they wish. Scocre. When applying for a new loan or credit card, the first thing the lenders would ask will be about your financial health. While some lenders go for checking a detailed version of applicant’s credit health, others process the loan or credit application only after checking their financial standing.
It may be noted that both the credit report and credit score are often used interchangeably by the lenders as per their need and loan sanctioning standards. However, at times, borrowers often confuse themselves between both the terms believing that both have the serves the same meaning. Scocre. In modern times, credit health is part of one’s financial power. Scocre Credit Score - Myths related to Credit Score. So far, we have clearly understood the importance of credit score in our financial lifestyle. These three-digit scores play a major role not just in the loan and credit card segment, but are also significant to buy right insurance plan and lots more. Scocre. Credit reports are basically a breakdown of a borrower’s credit repayment history that displays their credit reputation. The reports are prepared by credit monitoring agencies that accumulate all financial information about their respective borrowers. This data is based on the information forwarded by financial institutions and lenders such as banks, Non-banking Financial Companies (NBFC), and insurance companies across the country.
Scocre Credit Score - How to Improve Credit Score. Scocre Credit Score - What is Credit Score. When it comes to managing finances, compromise is not an option for sure. At many instances, we have heard that credit score is a reflection of your financial health, still not many of us literally pays heed to this topic. Due to lack of understanding, we keep repeating common mistakes that would drastically impact the credit report, and till the time you understand its significance in your financial life, it’s already been too late.
So, before committing unintentional common mistakes, let’s comprehend the topic. Check Credit Score Online. This privacy policy document of SCOCRE has been drafted to provide information about our reasonable security practices and sensitive data collection in order to deliver our services. We work on our key fundamental principles to maintain trust and faith of our customer in us. Check Your Free Score Today and Apply For Credit Card. Score: File Credit Dispute. Check Free Score online and Get Credit Report. About. Scocre: Check Credit Score Online.