ICICI Bank Customer Education Series (Do you have a Good Credit
ICICI Bank has started a Customer Education Series in collaboration with its Financial Counseling Arm Disha Financial Counseling.
Do You have a Good Credit History? -
Did You Know?
- A Credit bureau is a Company that collects credit information on individual borrowers from lending institutions and makes it available to specified lenders. It provides information on Individuals’ borrowing and bill paying habits.
Have you been rejected a loan or a credit card in recent times by any Bank?
It could be possibly because of your past credit history.
Today, thanks to consumer credit bureaus, most lending institutions can track the repayment history of every customer at an individual level. When a Customer requests a new credit facility (loan or card), the lending institutions refers to the record of the Customer’s repayment history and then decides whether or not to accept the request.
In short, in today’s time, the chances of a credit defaulter getting a fresh credit facility are largely reduced.
So how do banks assess credit worthiness and that too at the level of the individual? How can they price their products differently for different customers? How can I ensure that i have a good credit history? What should I do if my Credit history is impaired because of a dispute with my Bank? These are some of the questions that customers have in mind.
If you have any questions on this topic, simply type
