How to Check Credit Score for Free in India [Updated]
A lot of people might call themselves educated but are you educated enough to handle your money well. Despite, having enormous knowledge in a particular field, it is important for us to understand that in order to be a better citizen we need to pay our debts and maintain score.
The term that we are about to talk which is Credit Score or CIBIL Score may not have rung a bell until now when you finally need to apply for a new loan or a credit card. Although, it is never late too have a full understanding of what CIBIL score is and how can you check my(yours) Credit card Score for free.
Therefore, in order to know How to Check Credit Card Score for Free read down the article below. Also Check Credit Card offers online for the best rewards depending on your requirements.
Steps to Check Credit Score for Free
A lot of people stumble upon this question How to check Business credit Score Online, or maybe How to check Credit Score Online for SBI. Although, I must tell you that there are no multiple services that are credible enough to get you the correct answer.
Although, the one sites I am going to mention will help you Check Credit Score for without any penalty that too online sitting at your couch.
Therefore, If you are tired of the question Where Can I Check My Credit Card Score for Free then below we have provided you with the link and the steps to check it for completely free.
In order to check or Credit Card Score or CIBIL score, click on the link here.
Click on the “Get Yours Now” Button.
Now you have to get through 2-step Sign up. Firstly, enter all the basic information asked for example Name, Contact Number, ID Type, ID information etc.
Secondly, Now you have to verify your identity and Continue.
Now click on the Member Login and open your Id.
Congratulations !!! You can now see your CIBIL Score.
Note: You can check other details regarding your Credit history but all this information comes with the paid version.
Best Website to Check Credit Score Online
PaisaBazaar is a great place to start if you are a complete rookie in terms of finances. On this website, you can apply for personal loans, car loans, home loans etc.
The website can also be used to avail credit cards along with great offers. It is really easy to register on the website. All you have to do is fill in some of your basic information and submit. The website can also be used to fill see your CIBIL Score for Free.
WishFin is another really great website that can get you your CIBIL score absolutely free within 2 minutes. The website offers you some of the best investment insights that can be used by you to make a financial plan.
Also, it makes you capable of checking out your CIBIL Score or Credit score for free which is an added benefit. Therefore, in order to reach the website click on the link below.
This is another really great website that will get you covered from all sides. The website MyLoanCare not only tell you about your CIBIL Score but also some others.
Some of these scores include Experian, Equifax, and Highmark Score. Each of the score mentioned can give you an individual insight on what your current financial status is. Therefore, in order to reach the page use the link down below.
Well, BankBazaar is another really well-renowned platform which can be used by you to invest and take loans & credit. The website offers you a whole lot of services that can be availed just by a click.
In order to check your CIBIL score, all you have to is fill in some of the basic information and click on the submit button. In order to read the page using the link that is mentioned below.
If you are thinking of getting a loan then this website might get you started. The website can help you with various kinds of loans such as Personal Loan, Educational loan, Home Loan, Car Loan, and Credit Cards. Deal4Loans may not be known by many but the website is really good with its services.
Also, you can use the website to check your CIBIL score for free. Therefore, use the link down below and reach the page to do so.
What is a Credit Score or a CIBIL Score?
CIBIL: Credit Information Bureau India Limited
A Credit Score or a CIBIL Score is generally a numerical expression that lies between 300-900. The closest your CIBIL Score or Credit Score is to 900 the better it becomes for you to get loans or approval of new credit cards.
It is basically the numerical evaluation of how well endowed you are financially.
This credit score is basically evaluated by money lenders and banks to check whether or not you are capable of returning the lent amount.
This is basically done to ensure that you are capable of returning the lent amount in the future. Although, the statistics are not just used by Banks but also by many other online money lenders and companies to check there return on investment on a particular company or a person.
What are the factors that affect your Cibil Score or Credit Score?
Credit Repayment History plays a major role in determining whether your CIBIL score would be good. In order to keep it good, you have to pay your credit debts on time.
If you overutilize your credit limit a lot then this will negatively affect your CIBIL Score. Although, if that reduces overtime then your credit score will definitely improve.
If you have way too many loans then this will affect your Credit score. The more loans that you have the more liabilities you will be having. It means that it can be difficult for you at times for you to repay your debt.
The tenure of your loan can affect your CIBIL Score but if you have been paying it well over time then your CIBIL is likely to improve.
If your loans or Credit Card debts are unsecured then this might adversely affect your CIBIL or Credit Score.
If your credit limits are high or you increase it over time then this will also negatively affect your CIBIL or Credit Score.
Benefits of a Good CIBIL Score or Credit Score
If you have a good CIBIL score or Credit Score then you are more likely to qualify for better interest rates.
You have a higher chance of getting Credit Approval and Loans from the bank.
It gives you more negotiation power over the bank since they know that you will pay your debts on time.
In case if you’ll be needing higher limits for Credit balance then the work will become easy.
Good Credit or CIBIL Score gets you to house rental or apartment very easily.
The Car insurance rates that you will get will be better.
In some cases, it might help you against the Security Deposit because of any unforeseen event.
Finally, and this is a personal one but Good Credit Score or CIBIL Score means that you are a better citizen who pays his debt on time. This means that you can brag about it in front of your friends.
How Can You Improve your CIBIL Score or Credit Score?
Clearing out all your credit card dues or just minimising the number of credit cards you have can help you tame the score.
If you are claiming any unwanted appeals or false appeal then this might affect your Credit Score or CIBIL Score negatively.
The older your credit card is the better it may be for your credit score. Although, you have to see that it is well-maintained from the beginning of time.
If you pay your big monthly instalments on time then this improves your credit score. Most of these big instalments can be your car loans or home loans.
Follow the rule of 30%: It means that you should only 30% of your credit limit most of the times.
You must not say no to the bank for enhancing your credit limit. Although, always follow the rule of 30%. This enhancement shows that your bank has confidence in you.
If you have a bad score then you can always get a card against your Fixed deposit. Also, if you repay your debt on time then your CIBIL or Credit score improves with time.
CIBIL Score or Credit Score FAQs
Question 1. What is a CIBIL Score or Credit Score and how does it affect me?
Answer: A CIBIL Score or Credit Score is a numerical digit that lies between 300 to 900. The closer your numerical digit is too 900 and the better is your CIBIL or Credit Score. It is important to have a higher Credit score to have easy loan sanctions and Credit Cards.
Question 2. How Can I Improve my Credit Score?
Answer: There can be many ways by which you can improve your CIBIL or Credit Score. Although, the best way to do it is too pay your debts on time. We have covered the topic above so you can check it out for your likeness.
Question 3. Is CIBIL capable of Changing or Deleting my Score?
Answer: No it is not possible since it is a data that is provided by the banks to the organisation. They simply manage it provide them with the necessary output whenever it is needed.
Question 4. How is a CIBIL Score Calculated?
Answer: The CIBIL Score or Credit Score is a mix of various data that tells the user whether or not his financial history has been good or not. Each an every organisation that calculates it has their own algorithm which is generally not public. Although, the factor that affects the numerical value are Credit History, Credit Utilization, Credit Mix, and several other factors.
Question 5. What does “NA” or “NH” mean in a Credit Score?
Answer: It simply means that you have no previous credit history. This by no way is a bad thing because it increases your chances of getting a loan sanctioned or new credit card application easy.
Question 6. What is CIBIL 2.0 and how does it affect me?
Answer: It is the new and improved version of CIBIL that is being used by the banks now. This has no direct effect on you although the rating system for people with a credit history less than 6 months has changed.
So this was all we could tell you about CIBIL/Credit Score and How to Check Credit Score for Free Online. We hope this article may have been of some help to you. Also, thank you for reading it until the end.