Free CIBIL Score is a privilege that has been granted by the Reserve Bank of India. The central bank mandates all bureaus in India to extend the report to all individuals. It means that every person can obtain his CIBIL report without any cost.
All that you would be required to do is follow the following three steps to be access your free CIBIL Score.
Once you have verified your identity successfully, you would receive you would be able to view your report.
The credit report is slightly technical and if you are viewing it for the first time, you may not be able to understand it completely. There are three major segments in any bureaus’ report:
You must go through all the details and check if the same are correct. In case you find it difficult then you can also seek help of a professional. At Credit Sudhaar we not only give you a free credit report but also extend an in depth analysis of where you stand against the factors that impact your
As per our study one of four reports have errors and the same can be the reason for a low credit score. This issue must be addressed on priority since it can lead to non-availability of credit facilities. In case you observe any error like additional PAN number, a credit facility that was never by you or the repayment not updated correctly, then you must immediately report it to the credit bureau and the concerned bank.
The CIBIL score is an outcome of the existing and past credit facilities that you would have taken. The number of loans, type of loans, the age of the existing tradelines, your repayment patterns etc impact the credit score. The report can become a NO HIT (one which does not have any credit score) if you are new to credit and do not have history or in case there is an issue on the data getting mapped to you.
The credit score in India ranges from 300 to 900. While a score of 750 and above is deemed to be good, a score between 700 to 750 is deemed to be fine. Any score below that can be termed as bad credit score since the chances of getting a loan below the score of 700 are substantially low.
Simple answer to this is YES. You can definitely work upon improving your credit profile. A systematic approach needs to be followed to achieve this objective. It is a time consuming process and may take a few months but if the counselors’ advice is followed then it may even be achieved faster.