A CRIF score is a three-digit number that ranges from 300 to 900, and is used as a tool used by lenders and financial institutions to determine the creditworthiness of borrowers.
The CRIF score is calculated using the information in your credit report, which is a record of all your past financial transactions.
The exact number that constitutes "good" or "poor" varies depending on who's doing the evaluating and what they're looking for, but generally speaking, anything above 700 is considered good.
To check your CRIF score, you can contact the credit bureau or visit their website. You will have to provide some personal information such as name, date of birth and address. The bureau will then verify this information before providing you with your score.
The information on your CRIF Credit Information Report is updated once every month based on the data received from your various lenders to CRIF.
Late payments, defaulting on loans or credit cards, and high credit utilisation can all have a negative impact on your score. In addition, opening too many new accounts in a short period of time and having a short credit history can also negatively affect your score
Negative information can stay on your credit report for up to seven years, except for bankruptcies which can stay for up to ten years.
Yes, it is possible to improve your credit score. There are many ways to improve your credit score, including paying your bills on time, paying down your credit card balances, and increasing your overall available credit limit.
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