How to get a free credit check

How to get a free credit check

Is a credit score different from a credit check/credit report?

How to get a free credit check

Is it possible to obtain a free credit check or credit report? The answer is yes and no!

No - At the start, it needs to be made clear that it is not possible for anyone to get a free credit report or credit check directly from a credit rating agency in India. Anyone who wants a credit report needs to pay for a copy –usually a few hundred rupees. This applies to both individuals as well as institutions. For example, if a bank or lending agency wants to check your credit history when reviewing your loan application, they too have to pay for a copy of your report.
Yes - However, it is possible to get a free credit check online through CreditMantri. CreditMantri has tied up with Equifax to obtain a credit report for all of their customers. (Equifax is one of the three credit rating agencies that issue a credit report in India.) So, while you will not be able to get a free credit check if you apply directly to the agency as an individual, CreditMantri can obtain your report for you, for free.

Is a credit score different from a credit check/credit report?

Yes. A credit score forms part of your larger credit report. Your credit score is a three digit number between 300-900 that is a snapshot of your credit-worthiness. Your score is mentioned in your credit report which contains information on all your credit transactions. Your report has details on every single loan or credit card account you have had with a variety of lenders over a period of time. It includes your payment history, number of credit accounts, your outstanding balance, delinquent accounts and your total credit limit among other details.

What is the process to get a free credit check online?

First, you need to register at creditmantri.com and apply for a free credit check. You will be asked for some documentation – an ID proof and address proof. Once you complete this and the documents are verified by the agency, CreditMantri will obtain your credit score. You do not need to make any payment for the credit score.

Not only will you get a free credit score, but you will also receive a free analysis of your report to help you understand your credit health. Sometimes, the credit report can be in a very technical format that might not be easy to follow. CreditMantri will review the report, highlight problem areas that you need to work on to improve your credit score and guide you, if required, on how to improve your credit health and become loan-eligible.

Add a Comment

Thanks for your comment. Your comments will be posted on admin approval.

Comments (6)

Anonymous


Commented on 11, April , 2016

Banks/lenders generally report account status/transaction information to credit bureaus once a month, and the bureaus may also update individual customer profiles once in 30-45 days. So it may take between 6-8 weeks for updated account status to reflect on your credit profile.

Anonymous


Commented on 29, March , 2016

once i clear my outstanding on credit cards how many days does bank takes to update on cibil or credit agencies..

Anonymous


Commented on 12, February , 2016

Both the status codes mentioned by you - SETTLED and POST-WRITEOFF SETTLED refer to situations where the customer is unable to pay his total dues on a particular loan account and hence approaches the bank/lender for a partial waiver of amount. Such negotiated settlements lead to the account being closed, and the bank may also issue a No Dues Letter or an NOC, but such accounts will be reported by the bank/lender to the Credit Bureaus under SETTLED/ POST-WRITEOFF SETTLED status codes. These accounts may be considered as negative accounts and are likely to adversely affect your loan eligibility. Hence, it is very important to resolve these issues and bring them to positive closure status at the earliest, so that you remain loan-eligible. In case any of your accounts are currently reported under these status codes, we can help you resolve the same. Please provide us a mobile number where we can reach you and clarify your questions.

Sreekanth S


Commented on 11, February , 2016

What is settled /post write off means

Vimala


Commented on 4, February , 2016

Thanks for detailed notes

Anonymous


Commented on 14, December , 2015

Very very good .easy to understand .

Check your Free Credit Score Online