Having a good credit score has become one of the important parameters for everyone these days as the banks and other money lending organizations consider the customer’s credit score rating before lending them any money. Hence maintaining a good credit score has become essential for everyone.
The credit card has become one of the common modes of payment transaction method as it reduces the burden of carrying cash & is easy to use as well. Based on the transactions done by credit card & its repayment by the user a person is assigned a credit score. Considering this credit score the banks decide to lend money to anyone. This system proposed here will allow a person to keep a check on his credit score rating. The user will have to fill in his details along with the credit card details.
The system will be working on various algorithms & parameters to evaluate the credit score. The application will then indicate whether the user’s credit score is poor, fair or excellent. Thus, this user-friendly application can help the users to know their credit score in an instant.
This system will be used to calculate the credit score. The system will provide the user with credentials to access the system. Users can access his personal details as well as his credit details. Here we have applied a unique algorithm to calculate the credit score of the users. The system will calculate the credit score based on the following parameters such as number of credit cards, year of first credit card, number of loans, expense, income, etc.
Using these parameters system will calculate the credit score for each user and will display the credit score value. This system will be helpful for the users to know about their credit scores. This system is a fully functional and user-friendly project.
- This system is helpful for the consumer to know about their credit score.
- System will also display whether the consumer credit score is poor, fair, good or excellent.
- This system is fully functional and user friendly project.
- Individuals can view their credit ratings without going to the company for enquiry.
- Saves user time and money.
- Automates the process of credit score calculation.
- Saves organization resources and efforts.
- If consumer enters wrong credit details, system will provide wrong credit score