What is a CIBIL credit score and Credit Information Report

What is a CIBIL credit score and Credit Information Report (CIR)?

A credit score and credit report are different - but related - tools used by lenders to judge the probability of your fulfilling your debt obligations.

  1. Format
    A CIBIL credit score is a three digit number between 300 and 900 that indicates your credit-worthiness. It gives potential lenders a quick idea of whether you are a responsible borrower. A credit score of 750 is seen as being a good score. Your credit score is contained in your credit report.

    A CIBIL credit report is a multi-page document that details all your credit-related activity with regard to loans and credit cards. It has details of all your current loans, payment history , all loan and credit card applications you have made, any settled or written off accounts, number of hard enquires, and other such credit-related information.
  2. Time frame
    A credit score takes into account more recent activity, spanning your credit history of the past 24 months.

    A credit report records your credit history over a time period of years. It can take a long time for a negative mark on your credit history to be erased.
  3. Method of calculation
    A credit score is arrived on the basis of statistical algorithms. It is arrived at after applying a complex mathematical formula to your credit data.

    Your credit report notes all your credit-related information and is a comprehensive report, not a number.
  4. Time taken to improve score/report
    A credit score can be improved in months by taking specific payment-related actions.

    A credit report contains information spanning years, and it can take a long time to remove the negative marks in a credit report.
    Credit Score Credit Report
    Three digit number Comprehensive document
    Calculated through statistical analysis No analysis. Detailed record of all credit-related activity
    Based on relatively recent payment history (24months) Based on credit behaviour spanning years
    Can be improved in months Can take years to remove negative marks

  5. You can also apply for a CIBIL CIR without the credit score. Applying for a just a CIR without score is cheaper than applying for both together.