Category Archives: Credit Score

India has 4 RBI-approved credit bureaus in India that track how you use and repay credit. These bureaus are TransUnion CIBIL, Experian, Equifax and CRIF High Mark. Among them, CIBIL is the most commonly used, especially when lenders assess individual borrowers. These credit information companies collect repayment details from banks, NBFCs and other lenders. Lenders …

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If you know how to find a CIBIL report and read it, you can easily assess your financial standing. When you download and read a credit report, it helps you understand your credit health and take the right steps to boost your creditworthiness. A CIBIL report is a detailed file of the account holders’ financial …

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Before you search for loan companies who use Experian, make sure you understand what this score is and why it matters. Financial institutions rely on the Experian credit score to check if you are eligible for credit based on your past credit behaviour.  Thus this score can impact the approval of your loan as well …

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Understanding the importance of credit rating is the first step towards being smart in your credit journey. For any type of credit, financial institutions will check your credit score to evaluate your application.   This is because it gives them accurate information about your credit behaviour and ability to handle different types of credit. This, in …

Continue reading “CIBIL Score: Importance of Credit Rating and How to Check”

Your CIBIL score update time relies on many factors, including your latest credit activities and the time lenders take to report your transactions to credit bureaus. Before applying for any type of credit, consider these crucial pointers: Read on for a brief overview of why you need a good CIBIL score, when your credit score …

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There are different types of credit ratings and scores assigned by credit bureaus. As a borrower, your history with credit and current loans is summarised into a three-digit credit score. Credit ratings are usually assigned to organisations or companies who take on debt, but the two and often used interchangeably.  Credit information companies assign scores …

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A written-off status in your CIBIL report means the lender has marked your loan as unpaid after you missed EMIs for 180 days or more. You still owe the money and your credit score drops sharply. You can remove this status only by repaying or settling the dues and getting the lender to update CIBIL. …

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Wondering if you can check CIBIL score with a PAN card? The answer is yes. As you may be aware, your CIBIL score plays an essential role in your credit approval process. Lenders consider it a reflection of your repayment behaviour. If your CIBIL score is on the lower end, lenders may hesitate to approve …

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Be it an Equifax credit report or a CIBIL credit report, all lenders check your credit history and score while reviewing your application for any type of credit. These details give them insights about your financial standing and creditworthiness.  However, you don’t get the same score from all bureaus, nor do all lenders access your credit report …

Continue reading “CIBIL Score vs Equifax: Key Differences Explained”