Equifax India monitors credit scores affecting financial decisions

Monitoring your Equifax credit score is important for managing your finances. It affects your ability to get loans, mortgages, and even rental agreements. Equifax India collects information about consumer credit to calculate scores between 300 and 900. A higher score indicates better creditworthiness based on your borrowing history. Your credit score is crucial when lenders evaluate your financial history. It reflects how well you handle money. Equifax India operates under the Reserve Bank of India using a legal entity known as Equifax Credit Information Services Private Limited. Each month, banks and other financial organizations send consumer credit data to Equifax. The credit score you see is a three-digit number showing your creditworthiness. It is calculated using various factors, including your borrowing history, how you repay loans, and your overall credit management. The Equifax credit report contains details about your loans, credit card usage, repayment history, and requests for credit. To improve your Equifax credit score, it is essential to check your credit report regularly. By correcting any errors and managing your credit responsibly, you can boost your score. A higher credit score can lead to better loan conditions and more favorable financial opportunities. Monitoring your credit is key to staying in control of your finances.