Lenders evaluate loan eligibility on the basis of multiple factors like credit score, income, job profile and stability, age, etc. The importance of each of these factors would vary depending on the credit risk matrix used by the lenders and the type of loan applied for. Having a good credit score can certainly improve but […]
Author Archives: Radhika Binani
28
May
May
Lenders use credit score as one of the first filters for evaluating loan and credit card applications. Several lenders have also started using credit score to set the risk-based interest rates for their loan applicants. Its rising importance in our financial lives makes it essential for all to work towards building a strong credit score. […]
28
Apr
Apr
Given that unsecured loans like personal loans and credit cards are not backed by any security or collateral, lenders lay a greater emphasis on credit score while evaluating loan applications. So those having a poor credit score have lower chances of availing unsecured loans or are charged higher interest rate to make up for the […]
