Why each Credit Information Company provides different Credit Scores for the same individual in India?

If you obtain credit score from different bureaus, you will notice that your score varies from bureau to bureau. This is primarily because:

• Each bureau has its own method/algorithm to calculate credit score.
• Your lender might not have reported your recent data to a credit bureau or might not be reporting to a particular bureau at all.

Though your score may vary the lender knows the different parameters used by various bureaus and weigh the scores equally.

Importance/Benefits of Good Vs Bad Vs No Credit Score

All of us fall into one of three categories when it comes to Credit Score - Good, Bad or No Score. The table mentioned here under will provide you an idea with regard to the importance of Credit Score and its benefits.

Syntax	Good Score	Bad Score	No Score
Range	750 and above	Below 750	No credit activities reported
Interest rate on loans	Low	High	Average, fixed based on income and employer
Loan approval rate	High	Low	Depends on the policies of the lender
Payment history	Good	Poor (Late payments and defaults)	No history
Credit utilization ratio	Excellent	Poor	No records found