Latest news with #OneScore
Fashion Value Chain
26-05-2025
- Business
- Fashion Value Chain
How To Fix Errors In Credit Reports And Boost Scores With OneScore
Getting rejected for a personal loan can be a frustrating experience, especially for those with stable incomes and what seems to be a clean financial track record. One reason for applications to get rejected is not because borrowers lack financial discipline, but because of overlooked errors in their credit reports. These inaccuracies can be anything from outdated account details to fraudulent entries of a loan that the applicant did not even know existed in their name. To bridge this knowledge gap, the OneScore App allows user to check their credit score and report for free. By seeing all their credit accounts in one place, users can identify fraud and errors seamlessly. What's more, they can increase their score over time to get a better instant personal loan deal and take charge of their credit health with timely repayment reminders. With all these features, OneScore is helping users reduce loan rejection and borrow more smartly than ever, putting more power back in the hands of responsible users. Likely Errors in Credit Reports A credit report is meant to be a clear snapshot of an individual's financial history, but it is not always accurate. In fact, even small mistakes in a credit report can have big consequences, from unexpected loan rejections to higher interest rates due to lower credit scores. Here are some of the common mistakes one may encounter in their credit report: Errors in Identity Information: An individual's credit information report (CIR) can have certain mistakes in name, address, contact details, etc. Sometimes, there may be a mix-up with a credit account of one person appearing under the name of another person with the same or a similar name. Errors in Account-related Information: Credit reports can sometimes contain inaccuracies in how an applicant's accounts are recorded. For example, accounts that are still open may be mistakenly reported as closed or vice versa. Sometimes, accounts may also show missed or late payments even when the applicant has paid on time. Errors in Reported Balanc e: There may be certain accounts with incorrect current balances or borrowing limits. Duplication Errors: There may be the same debt listed more than once, possibly under different names or creditors. Fraudulent Accounts or Transactions: Sometimes, there may be unknown accounts or transactions in the applicant's name, which may be dragging their credit standing down. This may happen due to a fraudulent loan taken in a consumer's name by a scammer. These inaccuracies can lead to a lower credit score, which is a critical factor that lenders consider when evaluating loan applications. A diminished credit score increases the likelihood of loan rejections, as lenders may perceive the applicant as a higher risk. How OneScore Helps Avoid Rejections While the credit report gets updated every 30-45 days, most credit bureaus like CIBIL and Experian give access to them for free only once a year. OneScore offers a user-friendly platform that allows individuals to access their credit scores and reports from major bureaus like TransUnion CIBIL and Experian for free across their lifetime. Upon reviewing their credit reports with OneScore, users can identify discrepancies, such as incorrect personal details, outdated account statuses, or unauthorised credit accounts. The platform provides a straightforward process to report these errors directly to the respective credit bureaus, initiating a dispute resolution process. By promptly addressing these inaccuracies, users can improve their credit scores, thereby enhancing their eligibility for personal loans. If one finds inaccuracies in their credit report, they can raise a dispute with CIBIL by following these simple steps: Click on the 'Report an error' option in OneScore The user will be redirected to the CIBIL website Log in with credentials and click on 'Dispute Resolution' Click on the 'Credit Report' section and proceed to the 'Dispute Centre' Select the 'Dispute an Item' option and follow the instructions outlined there One can raise a dispute on their account information and data fields provided by the bank or financial company Hit 'Submit' and get a pop-up with a summary Achieving financial freedom requires discipline and planning, along with access to the right tools. That is where OneScore steps in. With this app, applicants can manage their credit health and make informed financial choices without being overwhelmed. They get a clear view of their credit profile and personalised insights to keep them on track. When life calls for a little extra support, be it a home upgrade, travel, or emergencies, one can get access to tailored financial solutions like the OneScore Personal Loan. This is a seamless personal loan facility allowing users to borrow up to â¹5 lakhs at competitive interest rates, all based on the applicant's credit profile. What is more, applicants can get this online loan with minimal paperwork and no hidden charges. To start the journey toward better credit health, one can download the OneScore App and unlock smarter borrowing with the instant loan options, too.
Fashion Value Chain
21-05-2025
- Business
- Fashion Value Chain
OneScore for Smart Borrowing: All You Need to Know
Even before applying for a loan, there is one thing that savvy customers always do: check their credit score. Whether one is using a loan app or visiting a bank branch, this step is the crucial part of any financial institution's evaluation process. A good score assures them that the applicant has a high potential to service a loan responsibly and pay EMIs on time. Given these facts, it only makes sense for consumers to track their credit score over time and improve it to boost the chances of getting approval for a loan. This is where the OneScore App plays an important role. It allows individuals to check their credit score and report for free. In addition, it provides personalised insights to improve their credit health and offers an easy way to check all active credit accounts in one place. Importance of Credit Score When Applying for a Loan When applying for a personal loan, home loan or any other kin of loan, a good credit score not only improves one's eligibility but also opens the doors to better loan terms. Here is how a good credit score directly influences key aspects: Improved Chances of Approval A credit score above 750 indicates a low risk to lenders, significantly increasing an applicant's chances of approval. However, the minimum requirement of a credit score may vary across institutions. Quicker Loan Processing Applicants with high credit scores can often enjoy faster disbursals. This is especially important when one needs funds fast to meet urgent needs. More Competitive Interest Rates Leading NBFCs and banks offer nominal interest rates to those with excellent credit scores. This helps consumers save on overall loan costs, helping bring down their EMI. Higher Loan Amount Lenders may often provide you higher loan amount with an excellent credit score. Longer Repayment Tenure A strong credit profile can also unlock extended repayment periods, typically ranging from 5 to 7 years. This makes repayment more comfortable as it brings the EMIs down. Reasons Smart Borrowers Use OneScore Before Applying for a Loan OneScore provides a smart and intuitive mobile application that is designed to give consumers complete control over their credit health. Here's why most savvy applicants use the OneScore App as the ultimate credit management and loan solution: Free Credit Score Checks for Life Users can track their TransUnion CIBIL and Experian scores anytime with this easy-to-use application, without paying a single rupee. OneScore is completely free, with no hidden charges or subscription fees, no matter how many times one checks their credit score and report. Comprehensive Credit Reports Applicants can use their credit information reports to spot suspicious activity and report errors or outdated information that may be hurting their credit score. Personalised Credit Insights OneScore also provides customised tips based on the applicant's credit behaviour. This helps them understand exactly what is affecting their score and how to fix it. Credit Goals Made Easy with the Score Planner By improving their credit score, individuals can qualify for a loan at potentially lower interest rates. They can use the Score Planner tool to set credit goals (such as reaching a score of 800 in 6 months) and get step-by-step guidance on how to achieve them over time. Instant Personal Loans with Easy EMI Planning When users require quick access to funds, they can rely on the OneScore Personal Loan. This facility allows one to get an unsecured loan of up to â¹5 lakhs without additional paperwork. The entire application process is streamlined to be 100% digital. All one has to do is follow these simple steps: Download the OneScore credit score management and loan app Select the amount one wishes to borrow and choose the employment status Choose the range of monthly income Get offers from reputed financial partners, compare them, and choose the ideal one OneScore's automated system ensures that users with a credit score of 730 or more can get their loans approved and disbursed quickly. This makes it an attractive option for those facing a financial emergency. EMI Calculator Makes Repayment Planning Easy Even after getting lower interest rates, it is crucial for applicants to choose a repayment tenure that suits their budget. OneScore simplifies this process by providing an easy-to-use EMI calculator. The user can determine the optimal EMI amount and choose an ideal repayment tenure just by entering their loan terms. The OneScore App supports individuals throughout their credit journey, from credit score management to choosing the optimal EMI terms. It even aids users in ensuring timely repayments by sending them reminders. This app thus empowers users to make informed decisions and make the most out of credit opportunities. Users can download the OneScore App now to check and improve their credit health and access funds when needed – all in one place.
Fashion Value Chain
15-05-2025
- Business
- Fashion Value Chain
Offering Credit Intelligence: OneScore Ushers in the New Era of Personal Loans
A personal loan is a versatile financing option with zero end-use restrictions without any need for collateral. One can use it to consolidate debt, finance higher education, cover travel or medical expenses and more. With such benefits, one can opt for this unsecured loan to get access to funds in times of need. However, the risk of rejection is prevalent with unsecured loans as lenders have strict criteria related to credit scores of potential applicants. The OneScore credit score and loan app aims to reduce the chances of rejection with personalised insights into one's creditworthiness and a hassle-free personal loan application process. Traditional Personal Loans Process Today, most applications rely on the online mode when applying for a personal loan. No matter which mode one chooses, online or offline, a consumer needs to fill the application form and provide soft or hard copies of documents for KYC purposes and for verification of eligibility. After completing all these steps, one needs to wait until the lender verifies all the documents. Following this process, there is a possibility of the lender rejecting the borrowers request on account of an insufficient credit score or low income. Even if the lender accepts the application, one may not get a loan offer which suits one's needs. This makes the process time-consuming and leaves consumers guessing. To overcome this, potential borrowers need to be aware of their eligibility, know their credit score, and have an idea of the potential loan amount they qualify for. This not only saves time but also helps the borrower avoid rejection, which can damage their creditworthiness for future loan applications. OneScores Solution Powered by Credit Intelligence OneScore offers a range of tools to simplify the personal loan application and approval process. To start off, applicants can easily check their credit score from both TransUnion CIBIL and Experian for free on the OneScore credit score and loan app. One can also access their credit reports from both bureaus to check their past and existing credit accounts. This service is free for a lifetime, ensuring consumers do not need to shell out a rupee to monitor their creditworthiness. If their score is lower than required, consumers can also get personalised insights into the factors that are hurting their score. What's more, they can follow tailored recommendations to improve their score over time. A good score can not only help applicants get swifter approval, but also a loan amount of their desire and a more competitive rate of interest. Another smart feature of the OneScore App is the Score Planner. This option gives the user the freedom to work towards a specific credit score they need over time with customised tips and strategies. Another unique credit-related feature of OneScore is fraud detection and reporting. In case the borrower notices any unauthorised loan account in their credit report, which is damaging their chances of a better loan offer, the solution is on the app itself. One can easily report such unauthorised loans to the credit bureau by raising a dispute via the app. Another way that users can ensure better credit health is by setting EMI reminders on the app. Timely payments play a significant role in boosting one's credit score, and OneScore makes it easier to be disciplined. The app also makes it easy for users to apply for a personal loan from top-rated lenders, check their eligibility for a loan, compare offers and choose the most suitable one. Ease of Applying for a Personal Loan on OneScore The steps to availing a personal loan from the OneScore App are straightforward. They include: Checking Credit Score: Before getting started, one needs to check the credit score by simply logging into the app. Tapping on the Personal Loan Banner: If their score is over 730, borrowers are automatically eligible to activate their loan offers. All they need to do is tap on the OneScore Personal Loan Banner and share their income, employment type, and desired loan amount. Checking Loan Offer: Borrower can now check their offer on the screen. This includes the maximum loan amount they are eligible for and the interest rate offered by the lender. Accepting the Offer: If the borrower finds the loan amount and interest rate befitting their needs, they can continue with the application process. Selecting the Loan Terms: Borrowers can now choose the loan amount they need and the preferred tenure. Based on the chosen terms, they can view the EMI amount. This helps them adjust the loan amount and tenure to fit their budget better. Completing the KYC process: The OneScore loan app allows borrowers to apply without any physical documents. The complete KYC process is through the Digilocker using Aadhaar details. After KYC verification, borrowers can get the funds directly in their bank account. With the OneScore Personal Loan, one can apply for up to â¹5 Lakhs from leading banks like Federal Bank, South Indian Bank and Kisetsu Saison Finance India. The interest rate starts at 12.5% p.a. with a tenure ranging from 6 months to 48 months. Trusted by over 4 Crore Indians, OneScore helps users take control of their credit health and apply for a personal loan seamlessly online. All one needs to do is download the OneScore App to get started.
