Is There A Difference Between CIBIL score And Credit Score? Know All About It Here
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Do you use the terms ‘CIBIL score’ and ‘credit score’ interchangeably?
While they might have similar meanings, they are technically different. Here’s how!
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Both CIBIL score and credit score determine your creditworthiness, i.e., the debt repayment capacity. They are an important criterion to get credit.
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CIBIL Score: The score is determined by the Credit Information Bureau India Limited - the first credit bureau of India. It ranges from 300 to 900.
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CIBIL score is measured based on the credit information received from different financial institutions you have borrowed from, including credit card issuers.
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Credit Score: A credit score can be measured by ANY credit bureau, including CIBIL, whether in India or abroad. It also ranges from 300 to 850 or 900.
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Credit score is calculated based on your credit history, repayment habits, credit mix, credit utilisation, etc.
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Embark on a rewarding financial journey by building your credit score with IDFC FIRST Bank Credit Cards!