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A line of credit is like a regular business loan and is considered on your credit report. Just like any other business loan, when you apply for a line of credit, the lender raises a hard inquiry on your credit report. This could cause your credit score to drop by a few points temporarily. However, once the line of credit is approved, you can use it to boost your credit score.

By not using the credit available on the LOC or using just a small percentage of the total available credit limit, you can reduce your credit utilisation ratio. The lower the credit utilisation ratio, the higher is your credit score. However, remember that the converse is also true. If you borrow large amounts on the LOC and repay it late, then it impacts your credit score negatively.

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Know Your CIBIL™ Score ?

A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan

What Is Credit Repair?

Credit repair involves rebuilding your credit health to a level where you become eligible for loans.

What Is A Credit Report?

A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit

What Is A Credit Rating?

A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders

What Is A Bad Credit Score?

A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900

Is A Credit Score Of 850 Good?

Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans

How To Improve CIBIL™ Score ?

There are several ways in which you can improve your credit score. Depending on how good or bad your score is,

Is A Credit Score Of 800 Good?

Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,

How To Get A Free Credit Check?

Is it possible to obtain a free credit check or credit report? The answer is yes and no!

Good CIBIL™ Score For Loans ?

Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders

How To Check CIBIL™ Score For Free ?

It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.

How To Check CIBIL™ Defaulter List ?

It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,

What Is The Average Credit Score?

There is really no number that can be established as the average credit score in India. Many people see regular

How Much Does Credit Repair Cost?

You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help

How To Remove Name From CIBIL™ ?

First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other

Why You Need To Check Your Credit Report?

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What Is The Best Credit Score To Have?

In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India

Can I Get A Loan With A Credit Score Of 700?

Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify

Can I Get A Loan With A Credit Score Of 650?

It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding

Can I Get A Loan With A Credit Score Of 600?

It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750

Can I Get A Loan With A Credit Score Of 550?

It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding

How To Improve CIBIL™ Score Immediately ?

A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.

How To Improve CIBIL™ Score After Credit Card Settlement ?

One common worry that runs through your mind after you have made a credit card settlement is,

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