Question

CIBIL score considers credit card for calculation of score answer a) true. b) false
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Answer 1

Answer:

yes

Explanation:

It has a range from 300-900 and is calculated by the TransUnion CIBIL credit bureau after taking into consideration several factors.

The score reflects your credit worthiness, based on your borrowing and repayment history, as shared by lenders. Your CIBIL score ranges from 300 to 900 and the higher your score, better are your chances of getting a loan approved. In fact, 79% of loans are sanctioned to consumers with a CIBIL score greater than 750.

The credit score calculated by CIBIL is known as the CIBIL score. So, the only difference between CIBIL and credit score is that credit score can be provided by any of the 4 credit bureaus in India. But only CIBIL provides CIBIL score. A credit score from any of the 4 credit bureaus is equally valid.