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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
A CIBIL™ credit report can be availed by requesting for the same on the official CIBIL™ website. After receiving your credit information report, you must understand the contents of the report and also how all the information is segregated. It is important to verify the report accuracy while going through it.
Here, we will explain some of the important contents of the report and how to decipher the same:
Every CIBIL™ credit information report contains your CIBIL™ score. A credit score is a reflection of your credit history and is mostly used by banks and lenders while evaluating your creditworthiness. The credit score comes in the form of a three-digit number ranging between 300 and 900. Higher the credit score, better the chances of your loan application being granted. A good credit score is an indication of your capability to repay your loans on time. It also indicates to the banks and lenders that you have sufficient disposable income to repay the loans and credit card bills.
A credit score is calculated using the information available in the account and enquiry information sections of the report. In some cases, the score could be displayed as NA or NH, and it indicates either of the following:
A credit report also contains your personal information, including, your name, date of birth, gender, etc. The section also contains other identifying information as per CIBIL™ registration done by you. This could include:
Your permanent and temporary addresses, telephone number, and email address can be seen in the next section of the credit report. These details are provided by the lenders. The report may also include your office address, residential address as furnished by the lenders. It is important to note that the report will mostly have historic information and not just current information. The historic information could go back up to a maximum of four years.
A credit report will contain information about your occupation, income, etc as per the information shared by you at the time of opening an account for a loan or credit card. This information is mostly as per the lenders’ submission to the credit bureau and is therefore important to carefully go through and verify.
This is considered the most important part of the credit report since your CIBIL™ score is directly affected by this. It presents information on all your past loans and credit cards along with your repayment history. This data is available in a tabular format and contains:
In the report, the status of the account can be either of the following:
If within the account information, there are any details to be disputed then a red box containing an alert message is reflected above the account information. This also has the date of the dispute.
The final section of any credit report is the inquiry section. It contains information about all the recent inquiries made by lenders. Every time you make an application for a loan or a credit card, the lender will send an inquiry to CIBIL™ related to your credit history. The same gets recorded in your CIBIL™ report. Every entry contains the name of the lender, date of application, loan amount, type of loan requested, etc.
Additional Reading: How To Read A CIBIL™ Report
In case any information on your credit report looks incorrect, you can raise a dispute with CIBIL™ to get it corrected. Here are the steps for the same:
Dispute resolution can typically take up to 30 days.
CIBIL™ report contains all relevant information surrounding your credit history and behaviour. It is important to go through these details periodically to ensure that all the information is accurate and updated.
1. How is the CIBIL™ score calculated?
CIBIL™ score is calculated using several factors including, credit history, number of loan and credit card applications, credit behaviour, credit utilisation ratio, etc.
2. What is the written-off amount in the CIBIL™ report?
The written-off tag is seen in the credit reports of individuals who fail to clear their dues on loan or credit cards despite payment requests from the lender. As soon as the debt is written off, the individual’s CIBIL™ score comes down and makes him/her ineligible for future credit.
3. What does 000 mean in the CIBIL™ report?
“000” is an indication that the payment is made on time and there is no case of late payment.
4. What is an acceptable CIBIL™ score?
An acceptable CIBIL™ score ranges between 700 and 900. A good CIBIL™ score has many benefits such as faster loan approval, low-interest rates, higher loan amount, etc.
5. How can I raise a dispute with CIBIL™?
To raise a dispute with CIBIL™ regarding your credit report or credit score, you can raise a request on the official website and follow the procedure stated in the dispute form.
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 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!
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It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
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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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