Making credit that is multiple within a brief period of the time can result in a substantial reduction in your credit rating
Credit agencies give consideration to multiple facets while determining your credit rating. Whilst the loan payment history is known to receive the utmost weightage among all of the factors, any negative occasion linked to other aspects can notably lower your credit rating.
Listed here are five feasible explanations why your credit history may drop despite repaying EMIs or credit card debt because of the date that is due.
Keeping the credit utilization ratio
Credit Utilization Ratio (CUR) may be the percentage associated with the total borrowing limit employed by you.Continue reading