Here’s Everything You Need to Know about Experian Credit Score
Are you someone who wants to know what an experian credit score is all about? If yes, all you need to do is just go through this article below. When it comes to an experian score, it represents the repayment history of an individual. The moment you apply for any credit facility such as loan or credit card, it would not be wrong to say that your credit history is taken into account so that you can have the best journey. On the basis of the same, the lenders decide whether you are suitable for the product or not.
How to Check the Score Online? In just a few minutes, you can check the score online, the process includes the below-mentioned steps: ● ● ● ●
Personal Detail Form OTP Verification User Detail Form Q&A Form
Details Required to Check the Score You need to have the below-mentioned details, which are required to check the score. ● Mention your Full Name, Mobile Number, and Email ID and click on the ‘Submit’ button. ● An OTP is sent to the registered mobile number ● Submit the OTP and click on ‘Verify & Continue’ ● Select your Date of Birth and Gender ● Provide your Permanent Address including the state, city, pincode ● Enter your PAN Number and submita
How is Experian Report Generated? The report gets generated after taking into account the below information: ● ● ● ●
How many credit accounts you have How much you owe in total credit Whether you have missed any payment How many credit card applications you have made in the last 6 months
How Score Gets Calculated? The calculation of the score gets calculated on the basis of payment history that includes many factors such as on-time credit card bill payment, credit limit usage, EMI deductions. Moreover, if you pay your bills and EMIs on time, do not use more than 50% of the credit limit and avoid overlimit expenditure, it would not be wrong to say that your credit score is always going to be on a good side.
With so much information on your side, it is easy for you to know how this score is calculated and why the same plays a crucial role at the time of availing the loan or credit card. Keeping this thought into mind, all you need to do is just go and read the article above so as to have a better understanding of the same.These are the details that you need to be aware so as to have a better understanding of the experian credit report.
Talking about the report, it includes the following information: Credit score, payment history, defaults (if any), how many loan/credit card application you have made in the last 6 months, etc. Soon after going through these facts mentioned in the report, it becomes easy for the lenders to take a calculative call as far as offering the loan or credit card is concerned.
After going through these facts, you can know what all credentials one should hold and how it creates a difference in one’s life.