Experian Credit Score

The Experian Credit Score comes in handy to check your eligibility for a loan in case you are looking to borrow for some purpose. The Experian CIBIL score indicates your borrowing behaviour and repayment history based on which your loan amount is also decided.  


About Experian Credit Score

Experian Credit Score is a 3 digit number that gives you a summary of your past repayment history, your past behaviour, borrowed amounts, your repayment methods, and other details. The credit score's purpose is to give you an idea of whether or not you are eligible to apply for loans and credit cards at the moment. It does not directly state it but it makes sure your lender gets an idea of what kind of a borrower you are before they approve your loan.

Experian is one of the leading global information companies that provide credit reporting services to individuals and businesses across the world. Their portfolio includes providing services to more than 235 billion people and to 25 million US businesses over the years.

The Experian CIBIL score ranges from 300 to 900. 300 is the lowest score one can get and 900 is the highest one. If your score is close to 900, you are more likely to be approved when you apply for loans and credit cards from lenders.

If your credit score is around 750 or 700, it is considered to be a decent score. However, if it is less than 600, first work on increasing your credit score before you apply for loans and credit cards from lenders. Pay your monthly bills, EMIs, and debts on time and make sure you never make late payments. These are the major factors that affect your credit score immensely and reduce your score.

When you apply for a loan, your lender checks your credit score and decides whether or not you are eligible to take out the loan. Your past history, open account details, personal information, and other details are examined before your loan is approved by the lender. Therefore, an Experian credit check is extremely essential if you are intending to apply for a loan or credit card soon.

Additional Reading: What is Equifax credit score?


Experian Credit Report and Its Components

Your Experian credit report contains the following components:

  • Personal Information: Your name, address, date of birth, etc.
  • Credit Score: It is a 3-digit number ranging between 300 to 900. The higher your Experian Credit Score is, the more creditworthy you are. 
  • Report Summary: It contains details in a table format such as the number of credit accounts, current balance, and the number of credit enquires and non-credit enquiries made. It will show your credit account summary, current balance amount summary, credit enquiry summary, and non-credit enquiry summary. 
  • Summary of Credit Account Information: A summary of any reported credit account found in the database of the Experian Credit Bureau under your name.
  • Credit Account Information Details: All details related to your credit/loan account, such as credit account details, payment history, and personal details of the consumer on the credit account.
  • Credit Enquiries: Any enquiries made by credit institutions for credit-related purposes will be displayed under this section.
  • Non-Credit Enquiries: These enquiries are displayed on your report but do not affect your Experian CIBIL. It will contain your personal details and other information.

How to Check Experian Credit Score Online for Free?

In order to check your Experian credit score online, visit their official page and put all your personal details properly. You will be asked to pay around Rs.399 for the credit report.

However, Experian also provides free credit reports to the customers. In order to get a free Experian credit report, simply visit their official website and click on the option ‘Free Credit Score’ on the right side.

Their free credit reports are as genuine as their paid reports. Paid reports are generally more detailed. They tell you more about how your repayment history has been and how responsible you are as a borrower.

Additional Reading: Check cibil score by pan card

Steps to Generate and Check Experian Credit Report

You can quickly generate your Experian credit report from the official portal of Experian by paying a nominal fee of Rs. 399 (including taxes). You just need to fill up an online form and authenticate your identity by answering a few questions. 

Once your identity is successfully validated, your Experian credit information report and credit score will be instantly displayed on your screen in real-time. You will also receive a copy of the report at your registered email address.

Steps to Check Experian Credit Report Online for Free and Experian Credit Report Download:

  • Visit the official website of Experian and log in to the user portal.
  • Then enter your personal details including your full name, email address, date of birth, mobile number, gender, PAN, address, etc.
  • Verify your identity by using OTP.
  • Click on the 'Get report' button to check your Experian CIBIL score and report.

Importance of a Good Experian Credit Score?

An Experian credit score has a huge role when it comes to proving whether you are a responsible borrower or not.

When you have a credit score of 900 or 850, your lenders may offer pre-approved loans to you based on your score. When you have a lower credit score, your details are minutely examined and you might lose out on a few opportunities for that. If your score is less than 650, make sure you spend some time improving the credit score before applying for a loan or a credit card.

There are several benefits that you can enjoy if you have a good credit score. Several financial benefits and rewards are offered to you. You can have a bigger credit limit if you have a good credit score.

Additional Reading: What is commercial cibil report?

Factors Affecting your Experian Credit Score

There are several factors that affect your Experian credit score immensely. Some of the most important factors that you need to keep in mind are:

Taking out multiple loans

Before you move on to figure out how to improve your CIBIL score, make sure you are aware of taking out multiple loans from multiple lenders. It may cause late payments and affect your CIBIL score eventually.

It will show that you are financially not capable enough to make your monthly payments on time. It can significantly impact your CIBIL score. When you take out multiple loans and fail to make your payments on time, your lenders may send inquiry requests to credit rating agencies. It affects your credit score a lot. It will eventually decrease your CIBIL score.

Making late payments

If you have a habit of making frequent late payments, your credit score will always be on the lower side.

Late payments not only indicate you are incapable of planning your finances properly but also make you an incapable borrower of loans.

High utilisation of credit limit

The credit limit you have refers to the maximum amount you can spend through your credit card on a monthly basis. Credit limits are set based on your capacity of making repayments. If you're wondering how to increase your CIBIL score, make sure you keep track of how much you spend from your credit limit.

Additional Reading: What is Transunion cibil?

Services Provided By Experian

Experian offers different services to their customers. Some of the top Experian services are: 

  • They offer paid as well as free credit reports to the customers. You can go for either one as per your preferences.
  • They make their customers aware of several financial risks and disadvantages that they might face due to a low credit score.
  • They collect consumer data and make a credit report that gives a summary of an individual from a personal and a financial standpoint.
  • They also provide the opportunity for you to raise a dispute regarding any credit details if you prefer.

Additional Reading: What is cibil dispute?

How is Credit Score Calculated by Experian?

Your payment history, personal details, number of credit accounts, length of credit history, and other details are examined for preparing your Experian credit report.

Whether or not you made late payments has an immense impact on your credit score. Even one single late payment can affect your credit score.

Several factors and metrics are involved in the procedure. Your cibil score range from 300-900, 900 being the highest one. This score determines your eligibility to apply for loans and credit cards. Therefore, an Experian credit score check is a must before you apply for loans.

However, you have to remember that you do not have a single credit score. Credit scores can vary for several reasons. One individual can have multiple credit scores for different reasons. CIBIL Score Calculation depends on several factors that work together to affect the CIBIL score.

Additional Reading: What is cibil grievance?

What does Experian Credit Report Consist

An Experian credit report provides you with a snapshot of your credit status and overall financial health. It consists of a lot of information and keywords. Following are the key information contained in your Experian CIBIL report:

  • Personal Information: This section has basic information such as your full name, current address, date of birth, gender, current employer details, spouse’s name, email address, mobile number, and PAN number.
  • Credit Account Summary: It displays the total number of accounts including active accounts, closed accounts and settled accounts under your name. It comprises your entire credit history and repayments. This section also has information about your loans and credit cards.
  • Current Balance Account Summary: It shows your current balance account, settled amount, secure amount and unsettled amount.
  • Credit Enquiry Summary: This section shows all the hard as well as soft credit enquiries you have made in the last 7, 30, 90, and 180 days. When you apply for credit, it triggers a hard inquiry from the lenders/ credit card issuers. These inquiries can bring your credit score down. In contrast, a soft inquiry is harmless and does not affect your credit score. It is offered when a lender/ credit card provider checks your credit without your permission to know if you qualify for certain credit card offers.
  • Non-Credit Summary: This consists of all the non-credit enquiries made by you in the last 7, 30, 90, and 180 days.
  • Experian Credit Score: An Experian credit score ranges from 300 to 900. Usually, most lenders consider an Experian credit score of 750 or above as a score score for availing of any credit.
  • Credit Account Information: This section has details about all your credit accounts like credit cards or loans including the lender’s name, account type, account number, ownership, date reported, account status, date of opening, highest credit, current balance, and amount overdue.

How to Get Experian Credit Report Online

You can get your Experian credit score India online by paying a fee of Rs. 399. For the Experian CIBIL score check, all you have to do is fill in an online form for authentication by answering a few questions and providing data regarding your credit cards, loans, and credit accounts. Once you have completed these steps, your Experian credit report will be shown on your screen and a copy of the same will be sent to you via email.

How to Improve Experian Credit Score?

In order to improve your Experian credit report, you must remember a few points.

  1. Do not keep applying for multiple credit cards. Maintain a gap in between. Applying for different credit cards shows you as a desperate borrower that has no financial management tactics.
  2. Make sure you pay your monthly bills, credit use, EMI on time. Do not ever make late payments. It affects your credit score immensely.
  3. Limit your expenses. Do not spend over 30% of your credit limit if you want to maintain a good credit score. Spending more than 50% consistently can reduce your credit score a lot.

These are the three major points that you need to keep in mind if you want to maintain a good Experian credit score.

Additional Read : CIBIL Full Form


Benefits of Experian Credit Report

  • Credit information gathered from the Experian plays an important role in availing of any credit.
  • Your credit score and history can impact the terms and conditions of loans and credit cards.
  • The credit report helps you understand your financial standing and control your credit budget.
  • This report also helps you make informed financial decisions.
  • It can help you protect yourself against identity theft.
  • Many online loan aggregator platforms provide Experian credit score free.

Experian Credit Score FAQs

What is the Experian Report Number (ERN)?


ERN is a unique 15-digit number mentioned on every credit information report generated by Experian. This number is used as a Reference Number to validate information when you communicate with Experian.

What is the difference between cibil and Experian credit score?


Both CIBIL and Experian are reputed global credit companies. They are well known for their services across the world. However, when it comes to networking, CIBIL has a wider connection compared to Experian.

What is Experian credit used for?


Experian credit score is examined by your potential lenders when you apply for loans and credit cards. Your credit score reflects your creditworthiness and lets your lender know whether or not you are a responsible borrower.

How frequently is the Experian Credit Report updated?


Experian updates your credit score every 30 days. 

Which banks use Experian credit reports?


All reputed banks and NBFCs in India are members of Experian. All the top banks use Experian credit report to judge the borrowers’ creditworthiness.

Is Experian usually the lowest score?


Different credit agencies can give different credit reports. Some companies may ask you to provide more details than what other companies require. Therefore, the results can differ from one company to the other.

Experian does not give you the lowest score. However, their score may not match with other companies due to the reason mentioned above.

How will the Experian credit score affect my loan applications?


Your Experian credit report will affect your loan applications immensely. Your lenders judge you as a borrower by looking at your credit score. If you have a low credit score, your loan applications will not be approved by your lender. On the other hand, when you have a good credit score, you will receive additional financial rewards and benefits as a result.

Does checking your Experian credit score lower it?


When you check your credit score, that request is shown on your credit report as a soft inquiry. It does not have any impact on your credit scores.

How many times can I check my Experian credit score?


You can check your credit score as many times as you want. It does not affect your credit score at all. Whenever you intend to apply for a credit card or a loan, make sure you check cibil score beforehand. It will help you understand whether you have an ideal credit school to apply for a loan at that moment. You can also understand whether or not you need to improve your credit score before making loan applications to lenders.

Does Experian credit score change with monthly updates in the credit report?


Every time any of your creditors shares information with Experian, your score may refresh.

Why do I not have an Experian credit score?


Credit scores are based on your past credit history. You will need to make several payments or should have your new account opened for a certain period of time before a scoring algorithm will have sufficient data to establish your credit score.