You can check your credit score online from the credit bureau’s website by providing the required details or through the website of online lending platforms. Alternatively, you can also opt for a credit score check offline by visiting the office of the bureau or sending an application. There are multiple ways to check credit score; however, the simplest way is online.
A credit score is an assessment of an individual’s credit behaviour, such as how likely they are going to pay a loan back on time, based on the information gathered from their credit reports.
The credit score range is a 3-digit numeric value and usually varies from 300 - 850.
If you apply for any form of credit, the first thing that a lender checks is your credit score and history of past loan repayments. It helps them analyse your creditworthiness and how much risk is associated with offering you a loan or credit card. Therefore, it is advised to do a credit score check online or offline before applying for credit.
Below are some points explaining why and how a credit score is important for availing of a loan and credit card:
Following are the four top credit rating agencies in India:
Credit Information Bureau India Limited (CIBIL) is a complete credit bureau that gives credit analysis for individuals as well as organisations. The CIBIL score ranges from 300 to 850, with 720 or more being an excellent score. Transunion CIBIL members comprise of all major financial institutions, banks, lenders, and Non-Banking Financial Companies (NBFCs). The bureau provides one free credit report each year.
Experian was established in the year 2010, and it conducts an analysis of the credit reports of companies and individuals. The Experian credit score ranges from 300 to 900. You can get your report in just 20 days.
Equifax gives portfolio scores as well as risk scores, with credit scores typically ranging from 1 to 999 for individuals. It has been working as an approved credit rating agency since 2010. Equifax provides different reports like industry diagnosis, portfolio management, risk management or credit fraud report for companies.
CRIF High Mark is approved by the Reserve Bank of India (RBI). It conducts analysis for the credit rating of corporates as well as individuals. Their credit rating varies between 300 to 850.
Know how good your score is
Get insights on how to improve it
Unlock offers as per your score
Below are the most common factors that can affect your credit score:
If you are thinking about how to check my credit score, here are some tips to help you improve your credit score:
If you are thinking about how to check my credit score for free, here is the answer. According to CIBIL’s credit policy, you can check free credit score once a year from CIBIL. Follow the steps given below to get free credit score for free from CIBIL’s website:
Credit score typically ranges from 300 to 850.
Follow the tips mentioned below to maintain a good credit score:
If an individual's CIBIL credit history is available only for less than 6 months, they will have a ZERO credit score or NA, which means no history is available.
No, A PAN card is not mandatory to check your credit score. You can check your score by providing your name, ID proof, date of birth, and mobile number.
Your credit report includes information about the types of credit accounts you have had, your payment history and some other information like your credit limits. Credit reports from different reporting agencies may contain different account information.
A credit score ranging from 300 to 550 is considered bad ad requires you to take serious measures to improve it.