Fincover offers customers to check free credit score on its platform

By Gloria Mathias

Fincover, a part of FinFortune Financial Service has announced the provision for its customers to check their credit scores for free on its website.

In the realm of financial lending, credit scores wield significant influence over loan approvals. Highlighting the creditworthiness of individuals, these scores are pivotal in determining access to financial resources.

The importance of credit scores stems from their role as indicators of an individual’s ability to meet financial obligations. Financial institutions, including banks and lending entities, gauge an applicant’s risk profile through their credit score. This assessment influences decisions on loan approvals and terms. Fincover acknowledges this critical role and empowers users to take charge of their financial health.

The firm provides a valuable resource for individuals to check their credit scores without charge. This service aids users in making informed financial decisions by enhancing their understanding of their credit standing. By entering basic personal information and their PAN number, users gain instant access to their credit scores.

The calculation of credit scores encompasses various facets of an individual’s credit behaviour. These factors include the number of active credits (loans and credit cards), promptness in repaying debts, credit history length, credit utilization ratio, and the impact of hard inquiries.

Fincover emphasizes key practices for bolstering credit scores, including timely payments, maintaining a balanced credit mix, judicious credit card utilization, cultivating an extended credit history, and prudent loan applications.

FinFortune is an online aggregator of diverse financial products and services designed to simplify finance for all. FinFortune seeks to democratize finance. Their platform, Fincover, offers products ranging from loans and credit cards to investment options, all meticulously curated by reputable banks and NBFCs.

Fincover, a Chennai-based fintech startup established in 2020, embodies the mission of seamless digital premium financing. With a user-centric approach, Fincover collaborates with leading insurers, banks, NBFCs, and mutual fund companies to provide optimal financial solutions.