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Credit Adult and get Responsible

Top 6 Ways Bad Credit Can Mess Up Your Life

18-Oct-2017 written by : FSI-Team

It's no secret that having a bad credit can create a lot of problems. You hear about it from your friends, relatives, and even acquaintances. However, it's possible that you don't know exactly how does it impact your life. If that's the case, this post is for you.

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My Credit is Dismal?

What Do I Do When My Credit is Dismal?

14-Oct-2017 written by : FSI-Team

Often people may discover about their dismal credit scores when their loan application is rejected or they are unable to get a credit card. A credit score above 700 is thought to be good and anything below that might raise problems for the applicant who is seeking credit.

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A Higher Credit Score Can Save You Big Bucks!

4 Ways to Help Your Credit Score

11-Oct-2017 written by : FSI-Team

In an ideal world, the people who take loans would repay them in the right manner and within time. However, in the world we actually live in, people take personal loans, car loans, etc. and default, or use credit cards only to end up with a high accumulated debt which puts them under a tremendous financial strain. To limit such scenarios, the concept of credit score was introduced.

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Mistakes Derail the Credit Rating

Correcting errors on your credit report. A must do

07-Oct-2017 written by : FSI-Team

There are several factors that impact your credit score. Even if you on your part think that you are doing everything right to keep up a high score, errors and discrepancies can impact your score otherwise. Because of the large amount of data and information that is exchanged between lenders and credit bureaus every day, it is not uncommon for errors to enter your report.

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Credit Adult and get Responsible

5 Ways to Become a Credit Adult and get Responsible

04-Oct-2017 written by : FSI-Team

It is always good to have your financial life sorted. If you pay attention and manage your finances responsibly from the beginning you will have nothing to worry later in your life. The day you get your first credit card or your first loan, you will find a place in the credit bureau records. They keep track of all your payment details and the way you manage your debts.

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A Higher Credit Score Can Save You Big Bucks!

A Higher Credit Score Can Save You Big Bucks! check how!!

29-Sep-2017 written by : FSI-Team

Saving big bucks is every one's dream. Each one of us, being part of the large middle class segment I can say that with a hand on my heart, tries to do little things that lead to savings.

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About Us

The 3 digit number on a person's credit report called the credit score can have a 6 digit impact on their financial lives.
Freescoreindia provides people with the tools required to understand their credit profiles and unlock the power of their credit score.

Q- What is the difference between Credit Score and CIBIL Score?


By the virtue of being the first credit bureau in India, the credit scores colloquially are called CIBIL Score. The score given by any credit bureau is called credit score. There are four bureaus in India viz. Credit Information Bureau India Ltd (CIBIL), Equifax, Experian and Crif Highmark and all of them give out credit scores.

Q- What is a good Credit/CIBIL rating?


The bureaus in India rate an individual on a scale of 300 to 900. A credit score of 750 and above is deemed to be good and individuals in this score band will have faster access to funding. But a person with low credit score still may be able to get loans since the underwriting is based on various factors.

Q- Why is it important to know Credit/CIBIL Score?


Your credit score shall not only impact the approval of loan that you apply, but also has the potential to influence the rate of interest beign charged. A lower rate of interest will result into huge savings. Therefore, it is highly important to be aware of the credit score.

Q- What should one look into his Credit/ CIBIL Report?


Your credit report has primarily three sections. Personal information, details on all the loans and credit facilities that you would have taken and enquiries from lenders. Each of this broad information is critical to your access to credit and hence need to be looked at with care.

Q- What factors are considered for Credit/CIBIL Score calculation?


The credit bureaus assign credit score to an individual based on complex algorithms. Broadly, there are five factors that impact your credit score. They are:

Q- Why should one initiate credit/CIBIL score check?


One of the major reasons why one should check the credit reports regularly is a high error rate. As per a unique survey, one of four reports has errors. These errors can lead to severely impacting the credit score and diminishing the chances of access to loans at the time of need. To know more about the reasons why one should check score regularly read more from our blogs.

Q- Why we provide free credit score?


Unlike developed economies, where one has access to free credit score once in a year, people have to pay for the same in India. We at freescoreindia have resolved to extend free credit score for two reasons, first to bridge the disparity on availablity of free credit score and second to educate and spread awareness on this important aspect of every one’s financial life.

Q- Will an enquiry impact my Credit/ CIBIL Score?


You can withdraw your credit report from any of the credit bureaus as many times as possible. This will not have any bearing on your credit score. However, the enquiries made by lenders can impact the credit score.