How to Check Cibil Score By Pan Card

Is it possible to get a free credit check or a credit report? 

Yes! It is possible now to get a free credit report. An individual can get one free credit report, including credit score once in a year from credit bureaus like CIBIL, EQUIFAX, and Experian, as directed by the RBI. If you wish to obtain a copy of your credit report, you can apply online on the website of any of the three bureaus. You will need to make a payment and provide ID proof.

How is a CIBIL score different from a credit report?

The CIBIL score is a single number that forms a part of your credit report. It is a 3 digit number that ranges from 300-900 and gives potential lenders a quick idea of your credit-worthiness. A credit report is a multi-page document that is a record of all your credit-related activity over a period of years. It has details of your payment behavior across all your loans and credit cards and gives lenders a detailed picture of your past and current credit behavior.

What are the factors that affect my CIBIL score?

• Delay in payments: Any delayed, partial or skipped payments will cause a negative effect on your score.
• Exceeding credit limit: Using more than 50% of your credit limit can bring down your credit score.
• Balance between secured and unsecured loans: Secured loans (home, gold auto loans) are loans that are provided against collateral such as a house, gold or vehicle. Unsecured loans are loans that are provided without any security, like a personal loan. It is important to have a greater proportion of secured loans to prevent a negative impact on your score.
• Applying for multiple loans and credit cards within short time frame: If you have too many loans or credit card applications without corresponding approvals, it will lead to a decrease in your credit score. Each rejection causes a drop in your score.