Pathway to Prime Credit: Harnessing Rufilo Personal Loans for a Better Score

India’s first “SMaRT Credit Discovery” & “Instant Credit-line based app,” Rufilo, is giving select borrowers VIP access to  short-term personal loans. For some lucky borrowers, specifically those with high credit ratings, the Rufilo loan provides small financial aid with low-interest charges and flexible repayment tenure. It allows such borrowers to stand above the average credit scorer and obtain the required small financial assistance online. And that too within the shortest possible time, with no documentation, and a fast verification process. The lender has termed such loans as Prime lending. It refers “Prime credit”  to the credit scoring position of an individual which is a few notches higher than the average credit rating.

Understanding Prime Credit and its Importance:

Prime credit refers to the credit scoring position of an individual which is a few notches higher than the average credit rating. To be precise, if you are a prime credit holder with a score above 700, then it indicates your sheer creditworthiness in the eyes of lenders. Especially, for short-term personal loan lenders, they consider borrowers with prime credit tags of the highest importance and provide a special privilege of low interest rate loan offering.

As you already know, personal loans or any other loan lender considers credit score an integral deciding factor to approve or disapprove a loan. Concerning the same, borrowers with prime credit are low-risk individuals and are offered minimal interest-rate featured loans to best meet their financial uncertainties.

Benefits of Having Prime Credit in Borrower’s Profile:

Here’s the list of benefits for borrowers that fall under the prime credit holder’s category and can make a real difference when applying for a Rufilo personal loan online.

• Pay lower interest rates: One of the significant benefits of applying for a personal loan online with a prime credit tag is paying low-interest charges. Compared with other borrowers having average credit scores, prime credit holders are given due importance by lenders along with a special interest rate. Thus, it results in saving a lot while obtaining a personal loan digitally.
• Obtain higher loan amount: Another benefit of applying for an instant personal loan online while having Prime credit is to source more than the average loan amount. It’s the privilege that prime credit scorers experience in front of reliable lenders like Rufilo.
• Stay flexible with repayment terms: Last but not least, with prime credit, borrowers can access flexible tenures and repayment terms. Quite often, prime credit holders experience special repayment perks like making payments in small equal parts on a monthly basis.

The company has also given key tips that would help borrowers maintain prime credit:

1. Prepare to pay bills on time

One of the ideal ways to reach prime credit holding is to maintain a habit of paying bills well on time. Any delay in paying your credit card, utility, or any other bill can have a negative impact on your credit ratings. However, timely payment even before the due date helps you improve your creditworthiness to an optimum extent.

2. Lesser utilization of credit

High credit utilization as per your limit often results in negatively affecting your credit ratings. Thus, the solution lies in utilizing credit of not more than 30% at a time. By keeping your credit utilization on the lower side, you showcase better financial management and responsible spending behavior. Thus, it automatically increases your credit ratings.

3. Take a close look at the credit score report

Not many people pay special heed to checking and analyzing their monthly credit scoring report. As a result, they fail to rectify the previous payment-related failures, errors, or any kind of payment irregularization. Keeping up with this habit automatically impacts your credit score. Therefore, the responsibility lies in your hand to analyze credit score report monthly and wisely. Moreover, prevents any payment-related discrepancies and improves credit scores.

4. Increase the length of credit history

The longer a stable credit history you have, the better your chances of getting categorized under the prime credit holder’s tag. In case you have a credit card, then manage repayments on time and, if possible, do not use the same frequently to keep yourself in an improved credit position. Doing this will help you establish a strong credit position in the long run.

With the help of the above-mentioned tips, you can swiftly enhance your credit ratings and extend your chances of getting a low interest rate personal loan.

The company has advised citizens to consider Rufilo’s personal loan to meet uncalled financial requirements by securing instant cash for a short-term duration. Especially for prime credit holders, Rufilo offers flexible terms and conditions along with cost-effective interest rates. Not only this, follow simplified ways to become a Prime credit holder and ensure seamless short-term borrowing from a reliable financial partner like Rufilo.

Philips Steve-IT Professional, said, “Securing a short-term financial loan has surely become simple with Rufilo. Came across this reliable loan platform, referred to by one of my friends, and applied for it in a simple manner. Based on my improved credit ratings, they offered special interest-rate loans and allowed me to repay within budget. Thanks, Rufilo for making my financial requirement smooth and hassle-free.”

Ted Hobbs, marketing expert, said, “All I want to say about Rufilo is- it’s a trusted platform to arrange short-term finance. They are fully committed to providing instant finance with no such cumbersome documentation process. It serves as an ideal financial companion for me now, while helping me arrange emergency cash with ease.”