It’s Early 2016, A Great Time To Get Your CIBIL Report
Do not be lax when it comes to your credit score. Your bankers, or other financial professionals with whom you are involved, will not do the work for you. They will go as far as they are allowed but it falls to you to keep a steady eye on your score this 2016. The aim is to help you catch patterns and trends in your spending and debt repayments so you can lower balances faster and without default, adding to your score instead of subtracting from it.
- Transactions are the lifeblood of finance and you can use your credit card statements to see all the details present in a paid one. The extent to which this can help you manage your finances is profound; you should take detailed look at your report once yearly, which is also the recommended credit-report-checking period.
- By reviewing your credit card in this manner, you can judge when you will be ready to apply for another credit card let alone loans.
- Monitor all issues and potential problem-factors, especially if you are making a recovery from other credit-related issues.
- Inaccuracies in your credit report are another thing to look out for. Just because these documents carry that unmistakable formal freshness does not mean they are flawless. You will find guidelines on how to submit disputes to CIBIL in case you do find inaccuracies in your report. A plethora of contact options is open to you. All this helps resolve black-marks in your report, especially those that are not your fault to begin with.
- It is not unlikely for you to become the victim of identity theft. Wrong accounts, ill-entered names, unrecognizable numbers for accounts and such… These are some of the symptoms behind potential identity theft. Such credit fraud can indeed be stopped in time, but only if you are paying attention and monitoring your credit report.
It all boils down to personal finance management. By taking an occasional peek at your credit report, just as you would your credit card bills and bank statements, you will see a pattern that encourages you to save instead of spend.
The question ‘have you checked your CIBIL report this 2016?’ should therefore come as a wake-up call to invest in one direct from CIBIL so you can at least learn where you stand this year. It is only the beginning of 2016, after all, and you can make plans as needed to save in lieu of spend, and to manage instead of ravage your financial credit standing.
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