Does Shriram Finance Check Credit Score to Approve a Balance Transfer?

Shriram Finance reviews your credit score when considering a balance transfer application to assess your ability to repay and evaluate your credit history. A positive credit score increases the likelihood of approval for a balance transfer, indicating responsible credit management in the past.

Your credit score is a three-digit number that lenders use to assess your creditworthiness. It is based on your payment history, credit utilisation ratio, length of credit history, and new credit inquiries.

Here are some tips for improving your credit score:

• Make all of your payments on time, every time.
• Keep your credit utilisation ratio low.
• Maintain a long credit history.
• Limit your applications for new credit.
• Dispute any errors on your credit report.

Shriram Finance offers a variety of financial products that can help to improve your credit score, such as personal loans and two-wheeler loans.