What is CIBIL And is This Provides a Free Credit Score?

You must come known to the word credit score while you are applying for a credit card or loan scheme. But do you know how the credit score is estimated? And what does it represent? If no, then don’t worry because in this article you will be known to a credit bureau that provides free credit score. CIBIL is an online credit bureau which gives the credit score of the users. To know how CIBIL provides you a credit score login free read the given article and also know about the importance of credit score in detail. 

CIBIL Transunion credit bureau

The online credit bureau CIBIL can offer you a free credit score login free only for the first time, after that you need to subscribe to the premium membership to check your CIBIL Score. Let us first see how you can use the CIBIL services. Check out the below-mentioned points you know the way by which you can know your free credit score. 

  • Visit the CIBIL’s official website and click on “check CIBIL Score”
  • Then after that enter your details in the form like PAN number, email address, mobile number, etc.
  • After that click on “Accept and Continue”.

If you follow these steps, your account will be created instantly and you can check your CIBIL Score for free. Also, you can subscribe to the CIBIL’s premium plans to get assistance in improving your score.  

For what purpose CIBIL Score is required?

Banks or non banking financial institutions ask for the credit report or CIBIL score to know your credit history. Yes, the credit score displays one’s repayment history of the loan payments and credit card bills. The CIBIL Score ranges from 300 to 900, where 300 stands for poor credit report and 900 shows a healthy credit status. Several banks in their eligibility criteria mentioned a specific credit score up to which the user score has to meet otherwise his loan or card application might get rejected. 

What to do if the credit score is low?

If you have checked your credit score and it is below your expectations then it is due to technical faults or maybe the reason is your due EMI and credit card bills. So, you can discuss with CIBIL and clear the errors from your report to get the appropriate score. Otherwise, you can pay your loan debts and credit card dues to improve your score. The credit score is not going to be changed instantly it takes time even if you pay off the debts. 

Now before applying for a personal loan, home loan and credit card don’t forget to check your CIBIL score. Because, if you apply for a loan and application gets rejected then it can affect your credit score. So try to take the help of a financial advisor or marketplace in finding a suitable loan for yourself. Also, it is important to note that if you check the CIBIL score regularly that can also lower your score. Take the help of CIBIL or use any other credit bureau whichever suits you the best and know your credit score and apply for a desired loan and credit card.