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Why should you check your credit score periodically?

Moneycontrol logo Moneycontrol 17-05-2022 Hiral Thanawala
Why should you check your credit score periodically? © Moneycontrol Why should you check your credit score periodically?

Being aware and monitoring your credit score is the first step towards accessing credit. This is crucial especially for those with a low score, to understand what went wrong and to take corrective measures to improve their score. According to a study by CIBIL and Paisabazaar internal analysis, tracking the credit score helped 23.6 lakh consumers improve it by over 50 points, over 18 months. Similarly, 16.5 lakh consumers raised their credit score by 50 points over 12 months. Periodic checking of your credit report also helps in keeping it error-free and alerting you to any fraudulent activity using leaked personal information.

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