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Apply NowA credit score is a numerical representation of your financial trustworthiness. Equifax, one of India's leading credit bureaus, calculates this three-digit score based on your borrowing and repayment habits. Scores generally range from 300 to 900, with higher scores suggesting lower credit risk. A good credit score can lead to easier loan approvals and favourable interest rates.
| Score Range | Rating | Implication |
|---|---|---|
| 300 - 579 | Poor | Likely to face difficulties in getting approved for credit and higher interest rates |
| 580 - 669 | Fair | Possible approval for loans but with higher interest rates |
| 670 - 739 | Good | Eligible for loans with competitive terms |
| 740 - 799 | Very Good | Easily eligible for most credit products at lower rates |
| 800 - 900 | Excellent | Top-tier borrower, eligible for the best rates and terms |
| Download and Login | Download the Airtel Thanks app, and log in or register using your registered mobile number. |
|---|---|
| Navigate to Airtel Finance | Go to the Manage Page and click on the ‘Credit Score’ tab under the Airtel Finance section. |
| Enter Personal Details | Fill in your full name, contact number, gender, date of birth, PAN, email, and current PIN code. |
| Check Your Score | Click ‘Check Now’ to view your Equifax credit score. |
Several key factors determine your credit score:
| Factors | Details |
|---|---|
|
Payment History |
On-time payments boost your score, while missed payments negatively impact it. |
|
Credit Utilisation |
Using less than 30% of your available credit helps maintain a healthy score. |
|
Credit Age |
The longer your credit history, the better your credit score will be. |
|
Credit Mix |
A diverse mix of credit types, such as loans and credit cards, positively impacts your score. |
|
Inquiries |
Applying for too much credit in a short time can lower your score due to hard inquiries on your credit report. |
Regular monitoring of your Equifax credit score helps keep track of your financial standing. By checking it frequently, you can:
| Reason | Benefit |
|---|---|
|
Detect Errors Early |
Regular checks help you catch errors that could harm your score. |
|
Identify Identity Theft/Fraud |
Monitoring allows you to spot signs of fraud early, preventing financial damage. |
|
Plan for Future Loans |
Reviewing your score frequently ensures you’re ready to apply for loans or credit under favourable terms when needed. |
Maintaining a high credit score is essential for financial flexibility. Here’s how you can improve your score:
| Tip | Benefit |
|---|---|
|
Timely Payments |
Making payments on time builds a positive credit history and boosts your score. |
|
Manage Credit Usage |
Keeping your credit utilisation low improves your score and reflects responsible credit use. |
|
Limit New Applications |
Applying for fewer loans reduces the impact of hard inquiries on your score, helping maintain a stable credit score. |
|
Review for Errors |
Checking your credit report regularly helps you spot and dispute inaccuracies that might be affecting your score. |
Your credit report is more than just a score—it’s a detailed history of your financial behaviour. Lenders review this to assess your reliability, making it critical to maintain a clean report for future financial success.
Equifax India provides detailed credit reports and scores, helping lenders evaluate your credit risk. Your credit score reflects your financial behaviour, with a higher score signalling better creditworthiness.
