Credit Score Simulator FAQs

Credit Score Simulator FAQs

Frequently asked questions

What is Credit Score Simulator?

The Credit Score Simulator is an interactive online tool that can estimate your current or future credit score based on various debt-related factors. This tool is designed to help you understand how various credit behaviours can affect your existing credit score thus allowing you to make informed financial decisions.

What does Credit Score Simulator do?

The Credit Score Simulator is a tool that can be used to explore the potential impact of your financial decisions on your credit health. This calculator only predicts how your score could get affected if you carry out a particular action like taking a new personal loan or closing your old credit card.

How does Credit Score Simulator work?

Your credit score plays a critical part in the loan application process. Understanding how various credit behaviours like taking a new personal loan or a home loan are likely to impact your overall credit health. By using the Credit Score Simulator tool, you can understand the impact of a particular action before actually doing it. The tool helps you make smarter and informed financial decisions.

Is the score generated using the Credit Score Simulator correct?

The Credit Score Simulator gives you a simulated score which is an estimate based on the selection made by you such as applying for a new loan or credit card. It does not account for any other factors and cannot guarantee that the score will be exact. However, in real life your actual credit score will not vary significantly if your credit behaviour aligns with the options you select.

What are the charges for score prediction?

When you apply for our Credit Pass, you get access to the Credit Score Simulator tool. You have to pay a subscription of Free to get the Bajaj Finserv Credit Pass. Once you have an active subscription, you can access the tool in your Credit Pass account whenever you want.
You can sign get a one-year Credit Pass subscription for free with our introductory offer. To unlock access to Credit Score Simulator, sign-up for Credit Pass

Who should use the Credit Score Simulator?

Anyone who wants to see how getting a loan or a credit card will affect their credit score can use the Credit Score Simulator to get an estimate score. This tool is used to explore the potential impact of different financial decisions on their existing score.

How to use the Credit Score Simulator?

Using the Credit Score Simulator is easy. All you got to do is select any of the actions you would like to check. Choose from actions like taking a new loan or credit card or closing an old credit card among others. The tool will simulate a new score indicating how that particular action selected could impact your current score. You can use the calculator to try and test out countless scenarios and check the potential impact of your action on your score.

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