Self-Instruct
If you are planning to apply for a loan or a credit card, one of the first things that the bank or the financial institution will look for is your CIBIL score. CIBIL (Credit Information Bureau (India) Limited) is one of the most popular and trusted credit bureaus in India, which provides credit scores and credit reports to financial institutions. A CIBIL score is a three-digit number that ranges between 300 and 900, which represents an individual's creditworthiness.
A high CIBIL score would indicate that the individual has a good credit history, which in turn would increase the chances of getting approved for a loan or a credit card. On the other hand, a low CIBIL score would indicate a poor credit history, which could reduce the chances of loan or credit approval. Therefore, it is important for individuals to check their CIBIL score regularly, and ensure that it is within the acceptable range.
Here are the steps to check your CIBIL score:
Step 1: Visit the CIBIL website
The first step to checking your CIBIL score is to visit the official website of CIBIL, which is www.cibil.com. On the home page, you will find an option to 'Get your CIBIL score'.
Step 2: Create your CIBIL account
If you are a first-time user, you will need to create a CIBIL account. Click on the 'Get your CIBIL score' option, and you will be directed to a new page where you will have to enter your personal details, such as your name, date of birth, address, email ID, and mobile number. Once you have entered these details, you will have to create a password for your CIBIL account.
Step 3: Purchase your CIBIL score and report
To check your CIBIL score, you will need to purchase your CIBIL score and report. The cost of the CIBIL score and report is Rs. 550, which can be paid online using a debit card, credit card, or net banking. Once the payment is processed, your CIBIL score and report will be sent to your email ID within a few minutes.
Step 4: Check your CIBIL score and report
Once you have received your CIBIL score and report, you can check your CIBIL score. A good CIBIL score is between 750 and 900, while a score below 600 is considered poor. If your CIBIL score is below 750, you may want to review your credit report to see if there are any errors or discrepancies that need to be corrected.
In addition to your CIBIL score, your CIBIL report will also contain detailed information about your credit history, such as your credit accounts, credit inquiries, repayment history, and outstanding balances. You should review this information carefully to ensure that it is accurate and up-to-date.
Step 5: Dispute any errors or discrepancies
If you find any errors or discrepancies in your CIBIL report, you can dispute them by raising a dispute online. To raise a dispute, you will need to log in to your CIBIL account and select the 'Dispute Resolution' option. You will then need to provide details about the error or discrepancy and upload relevant documents to support your claim. Once the dispute is raised, CIBIL will investigate the issue and correct the error if necessary.
In conclusion, checking your CIBIL score regularly is an important step in maintaining a healthy credit history. By following the above steps, you can easily check your CIBIL score and report, and take necessary steps to improve your creditworthiness. Remember, a good credit score can go a long way in helping you achieve your financial goals, such as buying a house, car or other major purchases, so it is essential to pay attention to your credit health.