-
-
-
Services
-
-
-
More
-
POSTED BY ON August 28, 2013 11:55 pm COMMENTS (5)
I had problem with HSBC bank credit card billing 4 years ago and stopped paying them once… then my name was in CIBIL list (low credit score) which stopped me from getting credit card or any loan… I have settled the HSBC credit cards before 15 months by paying the actual amount (after removing the financial charges and interests).
And surprisingly i got credit card from one bank recently (i just gave document since bank people were keep asking). My question here is, Is the credit card approval means, I have enough credit scores to get a Home Loan?
Thanks in advance!
2021 © Jagoinvestor.com All Right Reserved
Dear Nitin, yes, that’s how things are working as of now. 🙂
Thanks
Ashal
Dear Elias,
Whilst as per the industry practice any credit score above 750 is considered to be a good credit score, each lending institution would have their own credit score cut off depending on their internal credit policies.
The approval of your credit card necessarily does not mean an approval of the home loan. Since home loans are long term loans and are secured loans as against a credit card which is an unsecured loan, the evaluation criteria of the lending institution would differ.
The best way to get an answer is to obtain your credit report and score. Visit https://www.cibil.com/online/credit-score-check.do to apply for your CIBIL credit report and score.
Regards,
Credexpert
Hello,
If I get my CIBIL score by paying the required fees, and found out there was some problem with the score and raised it with either CIBIL or with the required bank.
Now, to check if my CIBIL score has been properly updated, do I need to again pay for my CIBIL score?
If yes, it doesn’t make sense for paying the 2nd time.
Dear Rajendra, please check your own CIBIL score & report by visiting the site & paying the fee.
Thanks
Ashal
Hello Rajendra,
First of all Congratulations to you on receiving the new credit card.
Definitely after the payment of your dues ur CIBIL Score should have improved.
A CIBIL CREDIT SCORE is a measure of how diligently you make payments relevant to loans, credit cards, telephone bills, insurance premiums, rent cheques and so on.
Its advisable to get your CIBIL Credit Score online at least once a year & do keep a check on al your credits/loans.
So quickly grab your CIBIL Score online from the website with some minimal charges to be paid via net banking. That will clearly reflect your entire credit history along with your eligibility of the new loans.