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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
Your CIBIL™ report contains information regarding all your credit related activity over several years as reported by your lenders. It is important to obtain and interpret your credit report so that you can identify any areas of weakness that are dragging down your credit score and affecting your ability to get loans or credit cards.
So here is a quick overview of what you can expect to see in your credit report:
First there is a section containing identification data like date of birth, current and previous address, telephone number, email ID, PAN number, driver’s license number, passport number, employment details, annual income, etc. Go over these details and ensure that they are all correctly listed, so that when you apply for a loan, there is no mismatch in the ID details. It is a good idea to check your credit report at least once a year so that if there are any reporting mistakes, it is possible to file a dispute and have it rectified immediately.
Next you will find details of every single loan (both past and current) that you have been granted. Your credit report will list the names of all the banks/financial institutions that have given you credit, with details on the type of loan personal loan, credit card, auto loan, etc.), the date of disbursement, total loan amount, the current outstanding, interest rate, the tenure of the loan, monthly EMI amount, current status of the loan, 36 month history on your repayment behaviour, etc.
Your credit report lists every single late or missed payment over the past 3 years. Late payments, if any, are recorded as DPD or Days Past Due. Any overdue repayments are listed, and the status field will signify if there is any negative status – eg. Is the loan in a WRITE-OFF status, previously SETTLED, whether a legal suit has been filed, or whether the loan is considered CURRENT, which means all repayments are being made in a timely manner? It is important to read this section carefully since it has a significant impact on your credit score. Any wrong information (for example, a fully paid up loan still shown as current) should be corrected at once so it does not affect your score.
Finally, your credit report will list the number of times that you have ever applied for a loan or credit card – this is called a credit enquiry. Too many credit enquiries without a corresponding approved loan could have a negative impact on your credit score because it means that you are ‘hungry’ for credit. This could decrease your credit score.
CIBIL™ is one of the four authorized credit bureaus in India which provide a credit score, the others being Equifax, Experian and CRIF High Mark.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A CIBIL™ Score is an indicator of an individual’s credit worthiness. It impacts the individual’s ability to borrow
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
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