Credit Scores - Does it Really Affect ?

1 Replies2365 ViewsLast Reply: 13 years ago
mohit
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Started 13 years ago
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Mohit Sharma here. Done MBA from IIM and presently working for a Buisness Firm in India. While surfing I got fixed by this Real Estate Discussion Forum. So I thought of posting in it. Since a long time I have some questions tickling in my mind and I thought that this place can help me out.

The number of people availing home Loans are increasing in India. There are various types of loans for various instances and needs. From quite a time I was thinking to have a home loan. But, everytime the thing that bothers me is Credit Score. I never reached a bank till date for loans. Can anyone tell me Wat this Credit Scores is all about and How it can affect me to get Loan?
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  • Jack
    New Member
    13 years ago
    First of all let me tell u abt "Wat is Credit Scores"
    A credit score is a number that indicates the measure of a consumer's credit risk at a particulare point in time. Credit scores are calculated from information contained in a consumer's credit report using a standardized formula.

    Generally, the concept of credit scores is implemented in foreign countries like USA only. But the Credit and Information Bureau of India (CIBIL) is expected to rollout credit scores, built on databases provided by various banks. So sometime in the future Credit Scores can be the key to your whole financial life.

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