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Is unknown status on a credit report negative?

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2012-08-06 10:56:01
2012-08-06 10:56:01

Normally a credit rataing, like for example, the CIBIL rating contains marks or points on which the credit rating of a loan applicant is determined. If the credit rating is high, then the credit rating of that person is good. If the points are low, say for exqample around 400- 450, it is risky to give a loan such a borower. Such a borrower is not credit worthy!!

Thus a credit rating either relects a positive or negative score. But the credti rating also indicate "0" (Zero), whichi is an unknown status. We will not be knowing the credut history of the borrower.

A "ZERO" credit score indicates that the borrower has no credit exposure so far and he has not availed any loan from any bank. That is why the credit score is shown as zero! Thus a zero credit score does not mean that the credit history of that borrower is bad!! It indicates that the borrower has not so far availed any loan from any credit institution.

M.J.SUBRAMANYAM, XCHANGING, BANGALORE

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