Fluctuating credit score got you confused? OneScore's Find Out Why feature has all the answers

If you're in the market for a loan, a strong credit score can be a huge asset. The first step in building a strong credit score is to understand how it is calculated. However, this can be challenging - there are 4 different credit bureaus in India, and each has their own formula. This is why your credit score is slightly different according to each bureau.

While you can educate yourself on the parameters that go into the calculation (your payment history, credit utilization, age of credit, consistency of personal information), you can't really say for sure why your credit score moves up or down each month. The trouble is, if you don't understand what you're doing right, how do you do more of the right things?

This is particularly important when you're trying to recover from tough financial circumstances. If you don't have strong credit scores, you can't avail credit; and often, that is when you need credit most.

Of course it can! But only as far as education goes. You'll find generic information, tips, best practices, etc. What you won't find is information specific to your case. Credit bureau reports tell you what your score is, and the details about your credit history, but make no recommendations or predictions.

The OneScore App however, does both. The Find Out Why feature in the app tells you exactly why your score moved up or down, helping you mold smarter financial habits that allow you to consistently work towards a better financial future. Using the app is easy - once you've signed up, the app shows you your credit score according to Experian and Cibil each month. You can click on the 'Find Out Why' button for personalized insights on why your credit score is changing each month.

The OneScore App aims at making it easy for everyone to maintain a strong credit score. The reasons listed in the Find Out Why feature are in simple, easy to understand terms: no jargon. For instance, if you've used your credit card extensively the previous month (even if you paid on time), your credit utilization increases, bringing your credit score down. The feature explains this.

Similarly, small increases in the credit score occur when you consistently pay all your bills and EMIs on time. The Find Out Why feature lets you see how you're progressing each month.

The OneScore App makes it easy to monitor and build your credit score, month on month. By checking your credit score, using the Find Out Why feature, and keeping up with the AI recommendations on actions you can take, building a strong credit score (even after financial mishaps) is now within everyone's reach.

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