Financial Aid FAQs for Students
Yes, your credit history can impact your job search. Several multi-national, financial and IT companies run thorough background checks on all applicants and even check their credit history. In many cases, they might run an international credit check in case you've worked or lived abroad. If you have not been able to manage your finances and repayments in the past, you may not get selected for the job.
CIBIL provides you with a three-digit number that serves as your credit score, which is called a CIBIL TransUnion Score. The score ranges from 300 to 900 and it plays an instrumental role in your loan approval process. If your score is closer to 300, lenders may view you as high risk and deny your application. If your score is closer to 900, you will likely have a seamless application process and can negotiate better interest rates.
You can work towards building your credit score by improving your debt to credit ratio. You should avoid applying for too many loans within a short span of time as lenders could view that as risky behaviour. Whenever possible, repay your dues on time and you can improve your credit score and report.
