#credit rating check free
Credit Score / CIBIL Report Advice
The Credit Score / CIBIL Report section is aimed at addressing frequently asked question on credit score/rating, CIBIL reports and how it impacts your loan and credit card eligibility. It is aimed at helping you understand your credit history and any issues which impact your credit score.
What is a Credit Score or Credit Rating?
Who issues a credit score or credit rating?
What is considered a good credit score? How is my score computed?
If I have a good credit score, will I surely get a loan or credit card?
A good credit score alone does not mean a person will get the loan he wants. Lenders additionally look at the status of previous loans and the repayment history on such loans. A previously
What is a Credit Information Report or CIR?
Can errors in reporting cause a bad credit score?
What if I never had a credit card or loan before? Will I have a credit score?
How can I get my CIBIL report and Transunion Score?
You can apply for a CIBIL report and your credit score online, or we can help you these, when you subscribe to our “JUST A REPORT” service. Just click here to subscribe to our services.
How soon can I get my CIBIL report and Transunion Score?
Can I get my CIBIL report for free from anywhere?
There are no credit reports available for free from CIBIL. CIBIL provides you with the CIR and TU score for Rs.500/-.
Try our free credit score predictor.
Try our free credit score estimator to check your likely score. This is a simple simulation score and may not be the exact score. Your score is calculated based on a number of parameters and the performance of your past loans.
What is Defaulter or Negative List?
Can I remove my name from Defaulter or Negative List?
There is no negative list or defaulter list which a Credit Bureau (CIBIL etc.) maintains. Your credit score may be impacted by poor repayment behaviour and there are actions you can take to help re-build your credit score
What causes negative or bad credit history?
Irregular Payment history, Write-offs and Settlements, High Current Balances and High number of Enquiries are the causes of negative or bad credit history. For detailed information click on Know More.
Will a default from many years ago impact me even today?
Your credit history will reflect for at least 7 years from the date of the maturity of your loan, and perhaps for even longer.
Is it possible to improve my Credit Score?
Yes. It is definitely possible to improve your Credit Score. However, it is dependent on your ability to make timely repayments on your loans and fully close any issues / payments due on your past loans or credit cards to the full satisfaction of your lenders.
How long will it take to improve my Credit Score?
If I close all my old issues by paying in full to my banks, will my Credit Score increase immediately?
Why to read the Credit Score / CIBIL Report Advice
YOUR CIBIL REPORT DIRECTLY IMPACTS YOUR ABILITY TO OBTAIN a credit card, buy a car or home, rent an apartment, or even get a new job. Knowing how to read CIBIL Report, correcting falsely reported information and ensuring accuracy of your CIBIL report are in your best interests.
If you are applying for a loan or a credit card. banks check your CIBIL score to view your credit worthiness. It is better that you check your credit score (score (be it CIBIL score, Equifax Score or Experian score) before you approach a bank for a loan. Make sure that you check your CIBIL score before approaching banks to avoid the risk of rejection. You can check your CIBIL score often to avoid having a low CIBIL score, and maintain a good CIBIL score.
CreditMantri helps you understand the status of your credit health. You can upload a CIBIL report and we provide an online analysis real-time. If you don’t have your CIBIL report handy, we have tied up with Equifax to offer you a credit score online. Usually, you have to pay a fee to get your Credit report. However, at CreditMantri, we offer a free credit health check – we get your score and credit history and provide an online analysis. CreditMantri helps you get a detailed credit assessment explained in simple terms so that you know where you stand.
This credit report analysis by CreditMantri helps you improve your credit score and history, discover loans and credit cards best matched for your credit profile and also helps reduce EMI and borrowing costs.
A FEW SIMPLE THINGS YOU CAN DO NOW TO IMPROVE YOUR CREDIT SCORE:
If you have a low CIBIL score, banks and NBFC’s will not approve your loans or credit cards. So, in order to get a loan approved, you must improve your CIBIL score.
• Stop Applying for Credit: If you apply for a loan with a low CIBIL score, you will either be rejected by lenders or might get an approval but at a higher interest rate. Each rejection will cause your CIBIL score to drop further. Therefore it is advisable to improve your CIBIL score to 750 before you apply for a loan or a credit card.
• Make payment on time: Avoid late payments on loans and credit cards. Not repaying dues on time will lead to a negative effect on your credit score. If you don’t repay your loans on time, it impacts your credit score and hence your application might get rejected.
• Don’t use too much of your credit limit offered: Always keep your credit utilisation at a level which is really required. Avoid using more than 50% of the total credit card limit consistently. Lower your credit balance, the easier it is for you to repay them. If you use much of your credit limit, it becomes difficult to repay them.