Which of the following actions can negatively impact a CIBIL score? Option: "Paying bills on time", "Defaulting on loan payments", "Maintaining a low credit utilization ratio", "Holding a long-term credit card account"

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Which of the following actions can negatively impact a CIBIL score?

"Paying bills on time"

"Defaulting on loan payments"

"Maintaining a low credit utilization ratio"

"Holding a long-term credit card account"

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Which of the following actions can negatively impact your CIBIL score?

Maintaining a low credit utilization ratio

Having a mix of secured and unsecured loans

Making multiple loan applications in a short period

Paying bills and EMIs on time

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How can an individual with a low CIBIL score potentially improve their score?

"By ignoring outstanding debts"

"By obtaining a secured credit card and managing it responsibly"

"By closing all existing credit card accounts"

"By applying for multiple new loans"

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Which of the following is NOT a key factor influencing the CIBIL Score?

"Payment History"

"Credit Type and Duration"

"Investment Diversification"

"Credit Exposure"

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How does a high CIBIL Score impact loan interest rates?

"Makes it impossible to obtain loans from financial institutions"

"Results in lower interest rates due to perceived creditworthiness"

"Has no significant impact on interest rates"

"Leads to higher interest rates due to increased risk"

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Which of the following is NOT a benefit of having a good CIBIL score?

Faster loan approvals

Easier access to credit cards

Increased negotiating power for loan terms

Higher interest rates on loans