Checking your credit score is now very simple with portals such as CIBIL and Experian. Both the credit bureau companies are among the most preferred ones as they show the genuine credit score for free. You can also visit the websites and check your score if not done it yet.
The importance of a good credit score is realized when you apply for a credit card or a loan both needing a good credit score.
The applicants having zero credit score or no credit history also apply for these credit facilities and get to use them as well. The score holder is, however, eligible for better deals. The truth is that if you have a good credit score, you become eligible for best credit cards and low-rates on loans. In this article, we have talked about the steps involved in checking the CIBIL and Experian score online.
How did I check my CIBIL score?
You can follow the below steps in order to check credit score online:
Go to check CIBIL score check website
- Provide your full name as mentioned on the PAN card
- Enter your Date of Birth
- Choose the gender you belong to
- Mention your PAN card number
- Enter your contact address
- Provide the email ID fn which you want to get the credit report
- Enter your mobile number
- Submit the form
On the successful submission of the CIBIL score form, you will get a confirmation on your email ID. You will get the detailed credit report on the email ID you have provided.
How can you check your Experian score?
If you want to check the Experian score, you can follow the simple steps involved in the process: Provide your Full Name, Mobile Number, and Email ID and click on the ‘Submit’ button.
You will then receive an OTP on the registered mobile number
- Submit that OTP and click on ‘Verify & Continue’ tab
- Mention your Date of Birth and Gender
- Provide your Permanent Address including the state, city, Pincode
- Enter your Permanent Account Number (PAN) and submit.
What exactly does a bad CIBIL score mean?
A credit score is based on an individual’s entire debt and credit history; there are various factors that affect your CIBIL score. Some of the factors are mentioned here:
- The repayment history (35%)
- The amount you owe to lenders (30%)
- Number of years of servicing debt (15%)
- Number and amount of recent loans taken or applied for (10%)
- The Credit Mix (10%)
How do you end up with bad credit score?
We have often talked about the factors based on which the credit report is generated but here are the mistakes due to which you harm your credit score:
- When you are a defaulter in making any of the repayments
- When you apply for a loan and get rejected consistently
- When you have never ever taken a loan and hence you have no credit history to validate
How can you get the credit report?
You need to sign up at the official website of Experian or CIBIL and provide your personal details. You also have to mention your Permanent Account Number (PAN), residential address, and other information for authentication purposes.
The report would then be generated on the basis of the details mentioned. You will also get the score and the Experian report on your email ID as mentioned in the form.