What's is the cibil score and credit score ?

Question

Accepted Answer

CIBIL score and credit score are numerical representations of an individual's creditworthiness and financial history.

CIBIL score and credit score are used by lenders to assess the risk of lending money to an individual.
They are calculated based on factors such as payment history, credit utilization, length of credit history, and credit mix.
A higher score indicates a lower credit risk and increases the chances of loan approval at favorable terms.
CIBIL score is specific to India and is provided by the Credit Information Bureau (India) Limited (CIBIL).
Credit scores may vary depending on the credit reporting agency used, such as FICO score in the United States.
For example, a CIBIL score of 750 or above is generally considered good, while a FICO score of 700 or above is considered excellent.

Accepted Answer

Cibil score & credit score both are words meanings same cibil score & credit score is giving coustomer definition How is the relationship of the customer with the bank and to check the eligibility of the customer

Accepted Answer

Cibil Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the cibil.

What's is the cibil score and credit score ?

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