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 31 Jan, 2018 |  Team Credit Karo
Check Free Credit Score In India 2018
Check Free Credit Score in India
Difference between CIBIL Score and Credit Score:
Before we explain what is a Cibil Score and how it affects your borrowing capacity with a bank or any other lending company. Let us
first understand what is difference between Cibil Score and Credit Score?
Reserve Bank has authorised four Credit information companies in India to Check Credit Score in India and CIBIL is one of them,
hence people often get confused with the terms. So these four credit information companies (CIBIL, Equifax, Experian and High
Mark) collects and record all credit related activities of individuals and based on certain criteria assign a particular Credit Score to
an individual.
Each company give their own weightage or have their own criteria might give priority to a particular parameter and hence your credit
score might differ a bit if you check from separate Credit Information Companies. But you need not to worry as CIBIL Credit Score is
accepted by all the banks or lenders in India.
In simple terms CIBIL is one of the authorised and most famous company to provide or check credit score in India.
What is a Credit Score?
Have you ever defaulted on credit card payments or Loan repayment instalments? Well you better check your credit score online
before you apply for Credit Card or Loan online.
Cibil Score is a 3 digit number ranging in between 300 – 900 and is calculated based on lot of factors based on how well you have
treated or managed you credits or borrowings, whether you have paid your instalments on time or have defaulted any of them.
What is a good Credit Score?
A credit score of 750 is considered as a good credit score and most of your credit cards or loan approvals will be done if you have
a credit score above 750, If not you can still apply for a credit card as there are banks who offer credit cards with xed deposit
(FD).
It is important that you maintain a good credit score as checking your credit score is the rst thing lenders do to see if you are
eligible to apply for a credit card.
How can you improve your credit score or check your credit report?
There are few pointers you can keep in mind to improve your credit score
1. Download your Cibil Credit Score Report to check for possible reasons why particularly your credit score is low when you
have been maintaining a decent repo with banks or lenders. As at times there are administrative errors which you might not
even know but might be affecting your credit score and hence it is important you get those resolved asap.
2. You will always see a Due Date on all your bills whether its mobile phone bill, electricity bill, landline bill or internet bill. Make
sure you pay before the due date not because it will cost you few extra bucks as late payment charges but it affects your
credit score as well.
3. Make sure that you don’t utilize the complete credit card limit month on month it’s fine that you do it once in 6 months but
don’t make it a habit and try to keep your credit limit usage below 50 % every month.
4. Be content with 2-3 credit cards ideally two is good considering different benefits of each credit card and more importantly
avoid applying for credit cards and loans too frequently. Avoid to be rejected from a credit card or loan application.
Meanwhile you can always check your complete Cibil Credit Score from CIBIL, here is the quick link .
We would be happy to hear your suggestions and answer questions related to credit score, feel free to comment.
Comments
 Sandeep Kumar Yadav
Very interesting Info
06 Feb, 2018
06 Feb, 2018
 Manoj Kumar
good information
14 Feb, 2018
 Kumar VIKASH
Kindly send me my civil score
 Admin
17 Feb, 2018
Hi Kumar Vikash, You will have to apply for the Cibil Credit Score in order to check the same. You may do that by applying to the quick link
mentioned in the blog, let us know for further assistance and we would be happy to help. Team CreditKaro
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