How does a pre-approved loan influence your CIBIL score? MintGenie explains

How does a pre-approved loan influence your CIBIL score? MintGenie explains

When you are given a loan’s pre-approval, it usually has a minimal impact on your CIBIL score. This happens because it leads to a soft inquiry rather than a hard inquiry. In other words, loan pre-approval does not influence your CIBIL score in any significant way. Let us understand what is a soft inquiry. Pre-approval … Read more

How to prevent impact of frauds on your CIBIL score? Here are 5 steps

How to prevent impact of frauds on your CIBIL score? Here are 5 steps

While CIBIL primarily deals with credit information of account holders, it does not directly handle disputes related to fraudulent charges. However, if anything of  this sort comes to the fore, it is recommended to place a fraud alert or credit freeze on your credit report with CIBIL.  This makes it quite cumbersome for fraudsters to … Read more

Balance transfer: How does it help improve your CIBIL score?

Balance transfer: How does it help improve your CIBIL score?

A balance transfer can help a borrower improve their CIBIL score if used in a smart way. Before that, let us understand what a balance transfer is. It is the transfer of balance (in part or full) from one account to another account usually that charges a lower rate of interest. But it is recommended to … Read more