Before we start our today’s topic, let’s just give you the sneak peak of cibil as our today’s topic revolve around the same. CIBIL, being one of the four authorized credit bureaus in India is known for providing the credit score to individuals. Now when it comes to credit/cibil score, there is no denying the fact that it plays a pivotal role in getting the loans and credit cards. Moreover, a score is a creditworthiness of an individual, it shows the credit history and repayment record. It basically gives lenders an accurate idea of your credit-worthiness. This is the reason why most of the lenders do check cibil score of the applicants before lending them money or offering them the credit cards.
Furthermore, if we talk more about the same, this score ranges between 300 to 900 and is no doubt a critical component of an overall loan journey. An individual having a score of 750 or above out of 900 is considered to be good enough to grab the best loan or credit card deal. However, there is no set criteria for the same as different lenders have different credit score requirement. But in general, a score of 750 appeals more to the lenders as having the same make the journey smooth for you.
Yes, the lenders will be more than happy to lend the money or offer a credit card as it reflects a good repayment history and behaviour of an individual. Keeping this thing in mind, the individuals always have the curiosity to know their score. And, no other way is better than an online platform to know your exact and accurate score and its calculation. That’s Right! Now you don’t need to visit any credit agency or bureau in person to know your score because with just a simple click of a mouse everything will be done. All you need to do is follow some simple and quick steps online to know your score in just a few seconds. Curious to know the steps, read the article below.
Steps to Check Credit Score Online
- Visit the official partner/credit rating agency of cibil online
- Enter your Name as per PAN Card, Date of Birth, Gender and PAN Card number
- Provide your contact details which include current residence address, email ID and mobile number
- Agree to the terms and condition
- Click on submit button
After reading the steps above, it would be easy for you to figure that with the help of a PAN Card, it is absolutely a hassle-free process for an individual to know his/her exact score. Did we just mention that no other documentation is required and this online service is free of cost? You read that right! No additional document is required to know your exact score as these credit rating agencies only need your PAN details. Not only this, these credit agencies give you this online facility free of cost. That’s Right! You don’t need to pay a single penny from your pocket to know your score. Apart from this, the process is so quick that within a fraction of a second, your score will be there right in front of your screen.
Furthermore, another surprise is that apart from letting you know your score, these reliable and trustworthy sites also send you the credit report so that you can have a better view of all your credit-related transactions. Yes, you can closely watch the records of your credit and repayment history, hence can have a better understanding of the same.
A credit report is basically a single unified document that contains the credit history across different lenders over a significant period of time. This comprehensive report is a complete cheat sheet of an individual’s borrowing history and repayment record. The report includes the following details:
- Personal details of an applicant (name, age, gender and address)
- Employment details and earnings
- Number of hard enquiries made by potential lenders on receipt of the loan/credit card application
- Record of previous and current loans along with the payment record
- The defaults or settlements of loan/credit card , if any
- Total credit limit and the amount spent monthly (Credit Utilisation Ratio)
After looking at this report, the lenders then take the lending decision, whether to lend money or offer a credit card to an applicant or not.
Hope you like reading our today’s article, which was on check cibil score. We will be back soon with another interesting topic.