Credit Advisory/Credit+ Service

Credit advisory or Credit+ service is personalized credit assistance offered by Paisabazaar, wherein a credit expert will call and analyze your credit report and suggest solutions to build further or improve your credit score. Credit+ is an exclusive credit-related service that is essential for new or existing customers, who are facing problems in availing credit facilities, such as loans and credit cards due to low credit scores. This service also assists people who are New-To-Credit (NTC) or with no credit history (NH). Further discussed are the benefits and related aspects of credit advisory or Credit+ services.

Benefits of Credit+ Service

Credit advisory holds various advantages for applicants to build and increase their credit scores with the help of our expert advisors. Some of the important benefits are listed below:

• Helps to build and improve your credit score
• Assists in availing low interest rates on new credit products
• Resolves your negative accounts, if any
• Improves the chances of loan and credit card approval
• Enhances the chances of availing credit for longer tenure

Fees & Charges

• Credit Plus Services – Rs. 1,099
• Credit Health Report @ 50% discount – Rs. 299
• Total Price: Rs. 1,650   (Breakup) (Rs. 1099 + 299 + GST)

Importance of Credit Advisory Services

Credit advisory services can help in understanding and analysing your credit report in detail. Credit+ is also beneficial for those who have no credit history, as it helps them build their credit score from scratch. Through credit advisory, the customer will understand the factors affecting their credit score and will also get guidance in improving their score significantly over time.

Credit advisory experts will identify the reasons behind your low credit score and will then prepare a plan of action to improve it. They will advise consumers to focus on best credit score-improving practices like maintaining a healthy credit report, decent credit utilization ratio, timely bill payments, etc. In addition to this, a credit advisor can also assist in finding errors in your report and rectifying them to help you have a healthy credit score.

How Paisabazaar Can Help in Credit Advisory Services?

Paisabazaar has launched Credit Plus or credit advisory services for customers checking and downloading their free credit report from our platform. The service is aimed to assist customers who are either New To Credit (NTC) or have low credit scores. The interactive and personalized call-based service will help customers build their credit scores and avail credit facilities, such as loans and credit cards at low interest rates with added benefits.

Credit plus or credit advisory service is a part of our credit awareness initiative wherein we provide free credit reports to the customers along with free monthly updates for the lifetime. Through credit advisory services, our credit experts will help customers with low credit scores to not only understand their credit reports but will also suggest steps required to improve their scores.

Also Know: What are the 10 Ways to improve and increase your Credit Score?

Functionality of Paisabazaar’s Credit Advisory Service

• Log-In to your Paisabazaar account to view your credit score
• Click on Credit Health Report for a detailed interpretation of your report
• Click on Try for Free to activate a 30-day free trial plan
• You can select a plan for Rs. 84 per month + GST after the Free 30-day trial is over
• There is also an option to Cancel anytime
• You can ask any & all questions you might have regarding your credit profile
• Our Advisor will explain the best available products to help increase your score.

Also Know: What is credit rating and How do Credit Ratings Work in India?

FAQs

Q. How can I avail Credit Advisory service from Paisabazaar.com?

Ans. To avail Paisabazaar’s Credit Advisory service, you just need to log in to your account and click on ‘Schedule a Call”. Once you have logged in to your account, you will be redirected to the page where you can see your credit score. You will shortly receive a call from one of our expert advisors, at your convenience or agreed time.

Q. Who calculates, generates, and issues credit reports/scores in India?

Ans. Credit reports/scores are prepared by Credit Bureaus that collect, maintain, and organize the credit information of every individual. These bureaus collect your financial information from the lenders to prepare your credit report and provide the same to lenders when you apply for any credit product. There are four credit bureaus in India, namely, TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. All these bureaus follow a unique scoring algorithm to calculate your credit score and your prospective lender may reach any of them to obtain your credit rating.

Also Know: How does CIBIL score calculate? How do they get someone’s transaction details?

Q. Why is Credit Score important?

Ans. Your credit score is one of the most important factors considered while processing your loan or credit card application. A low credit score means poor credit history, which makes a strong case for rejection of your application for the lender. Those with low credit scores are either turned down by lenders or charged a high rate of interest for any credit product.

Q. What does it mean if my credit score shows ‘NA’?

Ans. If your credit report displays an ‘NA’ remark, that means you have never availed any kind of loan or used a credit card. And since you have never taken credit, you do not have a credit report.  To generate a credit report, you will need to avail a credit product, like a credit card or a loan.

Q. How long will it take for me to generate a CIBIL score?

Ans. Once you start using a credit builder product, it would usually take 60 to 180 days for your first credit report to be generated. Do remember, generating a credit report is just the first step, what is more important is to take the necessary action to build your score over time.

Q. How long will it take to build a high credit score?

Ans. The first step to building a high credit score is to understand what leads to a low score, and then take necessary action. Once you make good credit behaviour a habit, your score will gradually improve. The time taken for your score to improve will depend on your credit profile, and lender and will also vary from bureau to bureau. Overall, it should take around 90 days for significant improvements to your credit score.

Q. How does Credit Advisory work and who can avail this service?

Ans. Paisabazaar’s Credit Advisory service assists customers in building a high credit score. Once a consumer decides to avail this service, our team of trained credit experts analyse the consumer’s credit report. After a thorough review, an expert calls the consumer at a convenient time and explains each factor in his credit report, the exact reasons for his/her credit score, and the necessary steps and products needed to build this score.

Any new or existing customer with a low or no credit score/history can avail credit advisory services.

Q. What if I miss the call from the advisor?

Ans. Do not worry, in case you are unable to talk to our advisor, you shall again receive a call from the same advisor in a short period.

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