The credit score is a numerical measure that determines an individual’s ability to repay a loan. In other words, it determines the creditworthiness of a borrower. Lenders and credit card companies always check credit scores to help them evaluate the repayment capacity of loan applicants.

Having a high credit score offers several benefits like easy loan sanction, approval of credit card applications, and better interest rates on loans. On the other hand, lenders are generally reluctant to extend credit facilities to borrowers with a poor credit score. Even if the lender sanctions the loan, having a poor credit score means the borrower is at a disadvantage and is likely to be charged a higher interest rate.

How to check my current credit score for free? 

  • Visit CreditMantri and click on the “Free Credit Score” tab on the main page. 

  • Enter your mobile number and verify it with the OTP sent to your number. 

  • Enter your email, Pincode, PAN, marital status, and date of birth.

  • Click on the Free Credit Score button to fetch your current score. 

Your latest credit score powered by Equifax is shown on the next screen. 

How to interpret the credit score? 

Credit Score Range

What does it mean?

300 – 549 Poor
550 – 649 Fair
650 – 749 Good
750 – 900 Excellent


A credit score is a three-digit number that ranges from 300 to 900. The higher your score, the better are the chances of securing a good deal on future loans and credit cards. Let's take a closer look at the various credit score ranges:

  • NA: Sometimes, you may get the result as NA (Not Applicable). If this is the case, then it means you don't have a credit history to compute the score.  

  • 300 – 549: If your score lies in this range, it's considered as a poor score. If you have previously defaulted on loan/credit card payments and have unpaid dues, your credit score will fall in this range.  

  • 550 – 649: If your score lies in this range, it's considered as an average score. An average rating will not get you the best interest rates on future loans. Hence, it's highly recommended that you take the right measures to boost it.  

  • 650 – 749: A score in this range is generally considered a good score, and most lenders prefer borrowers with scores above 650. While this is a good enough score, it still places you at a disadvantage as you don't have the leverage to negotiate the loan interest rates.

  • Above 750: If your score falls in this range, you are likely to enjoy the best interest rates on loans. Aim to bring your score to this category. 

Who calculates the credit scores? 

In India, the task of computing credit scores is handled by four credit information companies, also known as credit bureaus. Let’s take a closer look at how the credit bureaus arrive at your credit score. 

Whenever you carry out a transaction relevant to the score – your bank or NBFC is required to send the detail to all four credit bureaus. All banks and NBFCs are required by the RBI to keep the credit bureaus updated with all the latest transaction details.

Credit bureaus build a credit report for you, based on your financial habits. If a lender wishes to check the credit score of a prospective borrower, the lender approaches any of the four credit bureaus for this information. It doesn't matter which bureau, as all these bureaus have the same score for an individual. All four credit bureaus are equal and contain relevant and authoritative information.

The credit report is similar to a report card and contains your financial history. A credit score, on the other hand, is the latest marks that you have obtained.

Why should I check my current credit score? 

It's highly recommended that you check your credit score periodically. By keeping an eye on your latest score, you can quickly determine your chances of securing a loan or credit card. Another main reason you have to check your credit score from time to time is that it helps you spot any errors. If you notice sudden drops in your score without a valid reason, you can approach the credit bureaus and rectify the mistake.

Will my score be impacted if I check it? 

This is one of the biggest myths regarding credit scores. No. It all depends on the type of inquiry. Credit score inquiries can be divided into two types:

  • Hard inquiry – It happens when a third-party, like a bank or NBFC, ask for your credit score. Multiple hard inquiries within a short time-frame bring down your score by a few points. 

  • Soft inquiry – A soft inquiry is when you request your credit score. When you use CreditMantri to check your latest score, we ask for the same from Equifax on your behalf. Soft inquiries do not impact your credit score.

Points to Keep in Mind while Checking your Current Credit Score 

  • It's highly recommended that you check your credit score from time to time so that you are aware of where you stand. This way, you can make amends to your credit score, if required, before applying for a loan/credit card.

  • If you're applying for a new credit card or loan, do not apply to several lenders at the same time. Too many hard inquiries for your score can bring it down by a few points.

  • Credit bureaus calculate scores once every few months. If you have a poor score, start by making small changes. Clear your outstanding dues as soon as possible and pay your EMIs and credit card bills on time. When credit agencies review your score, they reward you by boosting it. 

Tips to Maintain a Good Credit Score

Here are a few tips to keep your credit score in tip-top shape:

  • Pay your EMIs and credit card bills on time

  • Apply for a credit card even if you don’t use it regularly 

  • Choose loans with long tenures and pay part-prepayments whenever possible 

  • Do not avail a large number of unsecured loans (limit it to just 1 or 2 at a time)

  • Maintain the right mix of credit – both secured and unsecured loans

  • Aim for a low debt-to-income ratio 

Tips to Improve Poor Credit Scores

If you have a low credit score, there are several measures that you can take to boost it. Here are some tips:

  • Do not co-sign for a loan, especially if you’re looking to borrow anytime soon

  • Avoid taking on too much debt – aim for a low debt-to-income ratio 

  • Pay your loan EMIs and credit card bills on time 

  • Decide if going for a debt consolidation loan will help you get back on track with your payments 

  • Finally, borrow only when it’s absolutely needed, and not just because a loan is available 


Check Your Current Credit Score & Stay in the Know

Your credit score plays a crucial deciding factor in determining whether you're eligible for loans. Additionally, having a high credit score helps you secure loans at comparatively lower interest rates.

Make sure to check your latest credit score for free in three simple steps using CreditMantri. And, if your credit score is not satisfactory, take the right measures to improve it.