
Introduction to Credit Health: Creditklick
Credit Health is a state of complete financial well-being. Being Credit Healthy is the means to social & emotional well-being.
Just as an unhealthy person finds life burdensome, being financially unhealthy can make life seem like a bed of thorns.
When you enjoy credit facilities (borrow) what you do is leverage your future income streams to attain immediate gratification. While you do this, it is important to know how much you can leverage yourself without falling into a debt trap. Falling into a debt trap, delaying payments, utilising more credit facilities than are optimal are common pitfalls which afflict a vast number of the credit seekers.
Whenever a financial institution, such as a bank, a credit card company, or any other business gives you credit, it may send information about whether or not you make your payments on time to a credit – reporting agency. Credit-reporting agencies, also known as credit bureaus, are entities that collect information about you and how long it takes you to pay back money you have borrowed. This information is called your “Credit History”. When you want to borrow money in the future, the lender will check with a credit-reporting agency to see if you have a good credit history.”
Credit Health has several components including a good track record, a good credit score, good income-expense ratio, absence of delinquency, healthy debt burdens loads, the ability to access credit on favourable terms and a host of other parameters which we have researched over the years.
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About The Credit Bureau
Credit Bureaus collect and collate personal information, financial data, and alternative data on individuals from a variety of sources called data furnishers with which the bureaus have a relationship. Data furnishers are typically creditors, lenders and utilities, debt collection agencies that a consumer has had a relationship or experience with. Data furnishers report their payment experience with the consumer to the credit bureaus. The data provided by the furnishers as well as collected by the bureaus are then aggregated into the credit bureau’s data repository or files. The resulting information is made available on request to customers of their credit bureau for the purposes of credit risk assessment, credit scoring or for other purposes. Credit bureau typically applies a mathematical algorithm to assess the credit worthiness of a customer.
The credit report and score helps lenders assess credit worthiness, the ability to pay back a loan, and can affect the interest rate and other terms of a lone. Interest rates may not the same for everyone, but instead can be based on risk-based pricing where customers with poor credit repayment histories may pay a higher annual interest rate than consumers who don’t.
In India, as per the Credit Information Act of 2005, all the credit history of customers is uploaded onto the credit bureau. The major consumer credit bureaus in India are CIBIL and Equifax.
These credit reports are used for loan approvals, credit card approvals, account opening, new job hiring. Even telecom and insurance companies are expected to shortly start uploading data onto the bureau.
Why Should I Be Credit Healthy
Being Credit Healthy is as important as being physically healthy. Let’s say you have poor Credit Health. You may think that you can pay cash for everything, use a debit card and laugh at your bad Credit Health.
But one’s Credit Health affects a lot more than the ability to borrow money or get credit on favourable terms. It can affect whether you get a job, what you pay for insurance and even how your personal relationships work out.
In short, paying attention to being Credit Healthy is perhaps the best financial and emotional investment of your life!
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Restore your Credit
Everyone goes through life’s cycles. It is not uncommon to make mistakes in these periods. However, this is not the end of the road.
Our team of trained and certified counsellors will handhold you through & through Credit Health check-up & work with you to steps to resolve your credit issues.

Enhance your Credit
Our research has shown us that just resolving issues is not enough to make you credit healthy. Credit needs enhancing & improving just like your physical health.
This step focuses on achieving credit & financial goals which will help you to power ahead in life.

Protect your Credit
Your Credit Health is made up of our analytical tools, our trained & professional counsellors, multi-stage guidance but most of all by your unflinching commitment to staying Credit Healthy!

You’re hard earned Credit Health, therefore, needs protection. We have a comprehensive & customized protection suite. Which will help you to protect & shield your credit from the vagaries of life.
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