As everything is becoming digitalized and personalized nowadays, having your own personal CIBIL credit score is a must. This score is a 3 digit numerical expression that points out how credit healthy you are. This score ranges from 300 to 900 points and above 700 points is considered a good score. It is the credit bureaus like CIBIL, Equifax and Experian which allot this score by considering your credit history. It depends of how regular you have been in repaying your loans and paying your credit card bills, rent, post-paid mobile bills, etc. Your credit score tells the lender how likely you are to pay back loan or credit card dues based on your past repayment behavior.
So when you approach a bank for any kind of loans or for that matter approach anyone who will lend you credit, they will first check your CIBIL score. Only if you are able to furnish a good score, will they give you credit. So the higher your score, higher is the chance of your loan application getting approved. So before applying for credit, make it a point to check you score first so that you have time to improve your credit health.
Applying for online credit report is the most hassle free process. There is a very simple way to check your scores and get the CIBIL report online. Just log in to freescoreindia dot com. This is a venture of Credit Sudhaar, Indias first and leading credit health improvement company. After login, fill your personal details and answer a series of questions like details about your previous loans, credit cards, balances and dues if any. Based on the inputs which you give, your credit score will be shown in the end.
After you get the report, start going through it carefully and see if it contains any errors. Mistakes in reports are common as well as dangerous. If the errors are not corrected at the earliest, it will bring your score considerably down. Also, if your name is featured on the CIBIL defaulters list, it is going to stay there for the next 7 years. This is a serious issue and should be informed to the bureaus if your name is wrongly featured. Get in touch with CIBIL and request them in written and attach the documents to prove your statement.
These are the benefits of checking your score before making a major financial move.
So when you approach a bank for any kind of loans or for that matter approach anyone who will lend you credit, they will first check your CIBIL score. Only if you are able to furnish a good score, will they give you credit. So the higher your score, higher is the chance of your loan application getting approved. So before applying for credit, make it a point to check you score first so that you have time to improve your credit health.
Applying for online credit report is the most hassle free process. There is a very simple way to check your scores and get the CIBIL report online. Just log in to freescoreindia dot com. This is a venture of Credit Sudhaar, Indias first and leading credit health improvement company. After login, fill your personal details and answer a series of questions like details about your previous loans, credit cards, balances and dues if any. Based on the inputs which you give, your credit score will be shown in the end.
After you get the report, start going through it carefully and see if it contains any errors. Mistakes in reports are common as well as dangerous. If the errors are not corrected at the earliest, it will bring your score considerably down. Also, if your name is featured on the CIBIL defaulters list, it is going to stay there for the next 7 years. This is a serious issue and should be informed to the bureaus if your name is wrongly featured. Get in touch with CIBIL and request them in written and attach the documents to prove your statement.
These are the benefits of checking your score before making a major financial move.
SHARE
