CIBIL Score Check Free
CIBIL Score Check Free Online By PAN Number
Formed in 2000, TransUnion CIBIL (Credit Information Bureau India Limited) is India’s oldest and well-known Credit Information Company. Based on an individual’s credit information, CIBIL generates credit Scores And Credit Reports . Lenders Look At This Report To Decide Whether to Lend Money To The Applicant. Ideally, Lenders Consider Applicants With A Good Repayment History.
What is CIBIL Score?
A CBIL Score Is A Three-digit Number That Represents Your Creditworthiness. It ranges from 300 to 900 And Is Calculated By Measuring Your Payment History And Other Credit Details Maintained By CIBIL. Generally, any Score Above 700 Is Considered excellent. and, that should be your goal.
A high CIBIL score indicates how Responsible And Disciplined You Are As A Borrower. Lenders are always Eager To Lend Money To Such customers.
With a CIBIL score of 700+, you can Easily Qualify For Loans And Credit Cards . You will also qualify for the best Credit Card Deals And Loan Terms. You May Even Have The Ability To negotiate a Lower Interest Rate On The Loan.
Also Read – What is insurance? – Life insurance: General Insurance
How To Check CIBIL Score?
Below are some simple steps to get your CIBIL report:
Step 1 – Go to CIBIL website.
Step 2 – On The Home Page, You Have To Provide Required Information like Name, Number, Email Address And PAN details.
Step 3 – Fill All The Questions Correctly About Your Credit Card And Loan Based On Which Your CIBIL score will Be Calculated. A Full Credit Report Will Be Created To Follow.
Few Main Steps To Check Your CIBIL Score-
Step 4 – If You Need More Than One Report Per Year, You Will Be Advised Different Paid Subscriptions.
Step 5 – If You Want To Go For Paid Subscription, You Need To Authenticate Yourself. You Will Receive An Email On Your Registered Account. Click the link And Enter The One-time Password Provided In The Email.
Step 6 – You May Need To Change The Password Again. Once You Log In, All Your Personal Details Will Be Automatically Populated. Enter your Contact Number And Click Submit.
Step 7 – After Submission, You Will Get your CIBIL Score Along With Credit Report.
Make Sure You Don’t Just Check Your Score. Review And Monitor All Information In Your Report. If You Encounter Any Errors, Correct Them.
How is CIBIL Score Calculated?
There Are Four Factors That Affect Your CIBIL score:
Payment History
Late Payments Or Defaulting On Your loan EMI or Credit Card Dues Have A Negative Impact On Your Cibil Credit Score. To Eliminate Any Risk, Make Sure You Make All Your Payments On Or Before The Due Date.
Credit Mix
Ideally, a Diversified Line Of Credit can Have A Positive Impact On Your Score. You Can Balance Between Secured Loans And Unsecured Loans.
High Credit Utilization
Every Credit Card Comes With A Credit Limit. If You Exceed The Utilization Limit, Lenders Consider You Credit Hungry And May Not Lend You Money In The Future. Ideally, You Should Maintain 30-40% Of The Credit Limit On Each Credit Card.
Multiple Searches
Too Many Loan Inquiries At The Same Time Can Hurt Your Score. This may Indicate That You Already Have A Heavy Debt Load. So, Apply For Loans Or Credit Cards Only When Necessary.
How To Maintain A Good CIBIL Score?
Here Are Some Tips To Maintain A Good CIBIL Score:
- Pay Your Credit Card Dues And loan EMIs on time
- Do Not Apply For Multiple Credit Cards And Loans At The Same Time
- Review Your Credit Report Regularly. If You Come Across Any Wrong Information, Correct Them
- Keep Your Credit Utilization Ratio to 30-40% Across All Credit Cards
- Build A Strong And Long Credit History
Conclusion
Along with CIBIL, CRIF Hi Mark , Experian and Equifax are other RBI-Registered Credit Bureaus in India. You Are Entitled To A Free Credit Check Every Time. So Make The Best Of It And Start Monitoring Your Reports.
