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Check Credit Score Online

IndianMoney.com Research Team | Updated On Thursday, December 13,2018, 01:32 PM

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Check Credit Score Online

 

 

What is a credit score? It is 3 digit summary of credit history. Credit score tells banks if your loans should be sanctioned. Maintain a good credit score if you want home loan and car loan sanctioned. CIBIL score ranges from 300 to 900. CIBIL score of 750 and above is good. Experian credit information report gives loan history, the loans and credit cards availed, identity information and recent enquiries. Based on Experian credit information report you are assigned an Experian Score. Experian Score ranges from 330 to 830. Experian score of 750 and above is good.

Credit score range and what it means:  Most credit scores are between 600 to 750. Credit scores of 700 and above are good and get loans sanctioned. A credit score of 800 and above is excellent. A high credit score gives banks and lenders the confidence that you will repay loans on time. Banks sanction loan against property, car loans, credit cards and even commercial vehicle loans if you have good credit score.

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Check Credit Score Online

1. How can I check my free credit score from IndianMoney?

IndianMoney has a tie-up with Experian to give free credit report and free credit score. Get free credit report in India with IndianMoney.com.

STEP 1 : You have to click on Get FREE Credit Score now!

STEP 2: Fill in the first name, last name, email address, gender, date of birth, address, pin code, city, PAN Card and Mobile Number.

STEP 3: An OTP is sent to your mobile number.

STEP 4: Fill up the OTP and tick, “Get my Credit Report”. 

STEP 5: You will see credit score and credit account summary.

SEE ALSO: Tax Benefit For Home Loan

2. Why should you check credit score?

  • Check credit report to rectify mistakes. If a loan you have not availed like personal loan shows up in credit report, it affects credit score. Check and rectify typing errors. Close home loan or other loan accounts after repayment.
  • Checking credit score regularly helps understand credit position, how loan repayments are going on. Timely repayment improves credit score.
  • When you check credit score it’s called a soft enquiry. Soft enquiries do not affect credit score.
  • Check credit score to get low interest rates. Timely checking, corrective action and maintaining good credit score, helps negotiate with banks for loans at low interest rates.

3. How does credit score affect you?

  • A bad credit score means important loans like home loan will not be sanctioned.
  • You cannot negotiate with banks for lower interest rates.
  • A bad credit score can damage your business. You won’t get business loans for growth, expansion and working capital needs.
  • Banks will sanction business loans at high interest rates.
  • Some Companies check credit score before offering jobs. A bad credit score could jeopardize job opportunities. Around 60% of Companies don’t hire people with low credit score. They believe if you can’t handle money, you can’t handle the job.
  • If your credit score is zero there’s no credit history. Banks have no data on past repayments and are not sure if you will repay loans. Your loans will not be sanctioned.
  • A poor credit score means no pre-approved loans and credit cards, approval of premium credit cards is difficult and loans at higher interest rates.

SEE ALSO: Personal loan in India

4. Steps to get your free credit score?

  • You can get Experian Credit Report and Credit Score by filling an online form and making an authentication by answering questions based on loans and credit cards.
  • After online authentication, you get to see Experian Credit Report and Experian Credit Score real-time. A copy will be mailed to registered email address.

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IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

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