Paying bills on time can get you loans easily
Credit scores depend on how promptly you repay your loans. What if they were also to consider how promptly you repay your bills?
Beginning this year, the Reserve Bank of India has made it mandatory for each credit bureaus in India to give one free credit report a year to every consumer who requests one. (You can read about it here.) This was done to make people more aware of their credit health. Following this move, many online financial services aggregators tied-up with credit bureaus to provide consumers their credit scores and reports. The catch here being that you would have to share your personal information, which could later be used for targeted marketing campaigns (read about it here).
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