CIBIL is a credit information agency in India. As the country’s first credit information company, it enjoys certain benefits. Firstly, it rates people on their credit worthiness. It holds a big sway on banks’ decision to issue a loan. Recently, it has added a few more services to its portfolio, such as ranking companies on their credit-worthiness. However, there are three big reasons why we ask you to subscribe to its services right now. Read on to find out the benefits of CIBIL services that we have for you here.
Benefits of CIBIL
Benefit 1: Credit Score Information
The first benefit you get from subscribing to CIBIL services is know your credit score. This score determines how much you are worth to banks when you apply for a loan. If you know this, then you will be aware of the likeliness of you getting a credit card too. Many times, a financier asks you about your CIBIL score. If you are not aware, there are high chances of your loan getting rejected. However, you can avoid most such chances by subscribing to CIBIL services and keeping a track of your credit score.
Benefit 2: Dispute Settlement
Those whop do not keep a track of their credit score may have another problem to deal with. Have you ever faced a time when a bank tells you that you are not eligible for a loan because your credit score is low? You take a look back at your past to see if there are any credit card bills or loan EMIs you didn’t pay on time. Many times, you have been regular with your payments and are still rejected. Among other reason, one of them is that your bank may not have informed CIBIL about your regularity. Since CIBIL is not aware of your regularity in making payments, it either does not mark your score up or even mark it down. The only way you will know that is by subscribing to CIBIL’s services.
Benefit 3: Apply for a loan/credit card
Lastly, among the big benefits of CIBIL services is that you can apply for a credit card/loan instantly. CIBIL tells you about the loan/credit card issuers whose eligibility criteria you meet. Since it has all credit-related data about you already, CIBIL has no difficulty in providing you with such a service. From here, you can directly compare different issuers and opt for the best one. Who knew that being aware of one’s credit score can be so beneficial.
CIBIL offers a number of services apart from the ones we mentioned above. It also rates companies for their credit-worthiness. Apart from this, it also offers a number of services to business folks as well. So, do not keep yourself away from these big benefits of CIBIL that you can get by subscribing to its services. Do so now and keep a track of your financial well-being.