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saw your question where you were asking what is NH in CIBIL score. So, to clear your confusion, NH in CIBIL score stands for No History, which is also referred to as ‘no score’. If you don't have a credit history, your credit score would be -1 or no score or NH. Don’t worry if you haven’t really understood this. Because I have expanded the meaning of NH below.
What is the Meaning of NH in CIBIL Score?
NH shows up in your CIBIL report when you don’t have any credit history to present to the lending institutions, such as a bank. This primarily happens when you have never taken a loan, nor do you own a credit card.
NH would make things difficult for you as a loan applicant, as banks need a credit history to check your application. In such a case, they need to look for alternative methods, which could lead to delay or even rejection of your application.
So, you need to create a credit history. You can do so by applying for a credit card in the bank where you hold your salary account. But make sure to pay your bills on time to avoid a negative impact on your credit score.
Another way is to apply for a credit card as a co-applicant with a person who has a good credit history.
If you want to do this in some other way, you can also start by applying for a small loan. This can be a personal loan or a two-wheeler loan. Even here, you need to make payments on time to prove your creditworthiness and showcase a positive CIBIL score.
I hope you now know what does NH mean in CIBIL score.
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Some related information: How much CIBIL score is required for home loan?Your Feedback Matters! How was this Answer?
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What is NH in CIBIL Score?
Jignesh
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1 Year
2023-12-04T11:55:08+00:00 2023-12-06T12:55:20+00:00Comment
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