Free CIBIL score check rating online was never so easy. CIBIL score is a three-digit number that reflects your creditworthiness. This number, which ranges from 300 to 850, is taken into account by banks and lenders when deciding whether to disburse loans or not. If you want your free CIBIL score check, continue reading further!
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How to Check Your CIBIL Score Online Step by Step
Below are the steps to guide you to perform a free Credit score check online:
Step 1: Visit the official website of CIBIL.
Step 2: Choose the option ‘Get your CIBIL Score’.
Step 3: After that, enter your name, password, and email ID. Provide identity proof like PAN card, passport number, Voter ID card, or aadhar card. Enter your DOB, pin code, and phone number.
Step 4: Select ‘Accept and continue’ option.
Step 5: After you receive an OTP on your registered mobile number, enter it and choose ‘Continue’.
Step 6: Choose ‘Go to dashboard’ to check your credit score.
Step 7: myscore.cibil.com is the website to which you will be redirected.
Step 8: Choose’ Member Login’. You can see your Credit score after logging in.
How to free CIBIL score check ratings online?
You can check your CIBIL score login ratings online by following a few steps given below:
- Visit the official website for the Credit score and click on Know your score.
- After this, you will have to sign up for an online form in which you need to enter details such as your name, DOB, ID proof, address, previous loan history, and other relevant information.
- After you fill up the form and accept any changes, you will be redirected to the payment page, where you can pay using different payment methods like credit cards and net banking. After successfully making a payment of Rs. 550 to the CIBIL, you will be redirected to an authentication page where you will be asked five questions about your credit history. Of those five questions, it is mandatory to answer at least three questions correctly. This will authenticate your identification with the CIBIL authority.
- After the authentication is completed, your report will be forwarded to your registered email address within the next 24 hours. If the authentication is unsuccessful, you can fill the offline form mode and send the hard copy to the CIBIL authority by mail. After verification, the report will also be sent to you by mail.
Factors that Affect the CIBIL Score Rating
Four main factors affect your CIBIL score login score rating— payment history, credit type and duration, credit exposure, and miscellaneous factors.
- Payment History: If you want to maintain a high CIBIL score, you must be prompt with paying your monthly credit card bills and EMIs. Any delays might hamper your score adversely.
- Credit Utilisation Ratio: Although having multiple credit cards or a loan does not affect your Credit score adversely, if you have a high credit utilisation, your score may go down. It is ideal for spending only 30% of your credit limit. A higher credit utilisation indicates that you are likely to become a defaulter because of the credit burden.
- Type of Credit and Duration: Your credit history age is represented by the number of years since your first credit account was opened. CIBIL takes into account the average number of years for which your credit account is working. Your score after the free CIBIL score check will be boosted if you have a healthy balance of secured and unsecured loans.
- Other Factors: Another factor considered by CIBIL while calculating your score is the credit inquiries you make. Your credit report will be checked every time you apply for a credit card or a loan. This is referred to as a hard inquiry. If multiple credit requests are made from your account in a short period of time, your score may go down. Therefore, it is best if you thoughtfully distribute your credit applications throughout the different months of the year instead of making the requests all at once.
Conclusion
Having a good CIBIL score is very helpful if you want to secure a loan in the future. As it carries numerous advantages in securing a financial loan, you must know how it is calculated, how to perform a free CIBIL score check and what are the ways to increase the score. Hope this blog successfully helped you with the same!
