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How do I get my free credit report? Research Team | Posted On Tuesday, January 15,2019, 07:37 PM

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How do I get my free credit report?



What is credit score?

A credit score is a three digit number assigned to an individual that represents his/her credit worthiness. A credit score represents how responsible an individual is when managing debt. A credit score above 700 is considered to be a good score. A person with good credit score can easily avail loans from banks and financial institutions at moderate interest rates.

A person with a low credit score cannot obtain loans from banks easily, as a lower credit score indicates he is not responsible in managing debt or making repayments on time. There are various factors that play an important role in building credit score. They are credit utilization ratio, payment history and clearing dues and loans.

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SEE ALSO: 5 Reasons To Use Credit Cards

How do I get my free credit report?

What is credit report?

A credit report is the summary of loans and credit cards availed and also loan accounts opened. The lenders generally ask credit bureaus for the credit report of an individual, to make effective lending decisions. Credit reports are also used to check your record/ history of payments on loans and credit cards.

The credit report contains summary of repayment, credit utilization of the individual and settlement of debt.  In India, there are four major credit information companies (CIC) that provides credit reports of individuals. They are Experian, High Mark India, Equifax and TransUnion CIBIL.

SEE ALSO: How To Use a Credit card wisely?

How do I get my free credit report?

Most of the credit information companies in India allow checking credit reports via online and offline methods. To check credit reports, enter the following details and make a payment to get the credit report:

Online Method: Enter the details given below to obtain the credit report online:

  • Name
  • Date of birth
  • Address
  • PAN card number
  • Identity authentication

Offline method: The following documents and details are required for obtaining a credit report offline:

  • Visit the CIC site
  • Download the form and fill in to request credit report
  • Attach Self attested and scanned copy of identity proof
  • Enclose a demand draft for payment of the fees
  • Send the documents to the mailing address mentioned on the CICs website.

SEE ALSO: Prepaid Credit Cards- Benefits,Types

Why does my credit report matter?

The credit reports are used by the banks and lending institutions to measure credit worthiness of an applicant. The credit reports help lenders know the applicants credit repayment history. A credit report contains the detailed summary of the late or missed payments.

The lender requests credit bureaus for the borrower’s credit history to decide on the lending. The credit reports are used to obtain the following details:

  • To understand the credit worthiness of an individual
  • To review the number of late or missed payments
  • To check the credit score of a person
  • To analyse the credit and loan accounts
  • To check for errors in the credit report
  • To decide whether to approve a loan or not

Steps to check the free credit score from

You must follow the below mentioned steps to check credit score for free on

  • Log on to
  • Click on ‘Get free credit score now’.
  • Enter your Name, Address, Mobile Number, PAN and Date of Birth.
  • You will receive an OTP on the Mobile Number that you entered. Enter this OTP to validate and proceed.
  • Your Credit Score and Credit Information Report, CIR, would be displayed.

 How to improve the credit score?

If you want to improve your credit score follow the steps given below:

  • If a person has a long history of repaying loans and credit card dues on time, then the person is likely to have a high credit score. Late payments of dues or loan defaults can bring down the credit score. To get a good credit score, make sure to pay bills on time.
  • Credit utilization ratio is a key factor in determining credit score. Generally, a good credit utilization ratio is less than 30%. To improve credit utilization ratio, clear debts by paying more than the minimum amount each month.
  • Most of the credit bureaus keep a track on the age of the credit account and how the balances and transactions are carried out in that account. The longer the history of the account, the better it is for the credit score. 
  • The credit scoring models also take into account the different types of credit like loans, installments and credit cards. To get a healthy credit score, consider a mix of different credit scores.
  • Keep hard enquiries at bay. Hard enquiries generally lower your credit score by 5 - 10%. Too many hard enquiries can also negatively impact your credit score.

Benefits of having good credit score:

A good credit score reflects how efficient and responsible an individual has been with payments and debts. Given below are some of the benefits of having a good credit score:

  • If you have good credit score, you will qualify for lower interest rates on credit cards and loans.
  • A good credit score helps in swift processing of loan application.
  • A good credit score helps negotiate for better interest rates.
  • You may also get loan processing fee and other charges waived off, if you have a good credit score.

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