Paisabazaar launches ‘Score Predictor’ to help you understand credit behaviour: How to use it

Paisabazaar, a marketplace for consumer credit, has introduced a new feature called ‘Score Predictor’ on its platform. This tool aims to provide consumers with a understanding of how their credit behaviour can affect their credit score.

The Score Predictor enables users to simulate various credit decisions and see their potential impact on their credit score. It helps consumers make financial choices by exploring the effects of actions like paying off debts or opening a new credit account.

Built after a detailed analysis of consumer behaviour, the Score Predictor offers estimates of how specific actions might influence credit health.

It provides insights on common decisions, including missing a payment, adding a new loan or credit card, clearing outstanding balances, and changes in the Credit Utilisation Ratio.

Radhika Binani, Chief Product Officer at Paisabazaar, said, “By enabling consumers to understand the cause-and-effect relationship between their decisions and credit score, we aim to empower them to make smarter, future-ready financial choices,” she said.

The Score Predictor is powered by advanced algorithms.

The tool shows a “before and after” comparison to enhance understanding.

Paisabazaar currently serves over 48 million consumers across 823 cities and towns.

The platform claims to have pioneered several industry-first innovations, including PB Assist, India’s first AI-driven Credit Advisor, and credit advisory services for consumers with damaged credit histories.