How do I do a credit score check and get a credit report? Important steps to know

Regularly checking your credit score is essential to ensure that you have a low-risk financial profile. Also, waiting until the last minute and doing a credit check right before applying for credit can be risky. If you find that your score is insufficient, you may not have enough time to rectify and improve your score. But when you regularly use the free credit score check services available online, you can take the necessary corrective action to improve your score.

To know what action you need to take, you will need to generate a credit report and perform a credit score check. The credit report contains detailed information about your profile and can give you better insight into the financial aspects you need to work on. Apart from this, using the credit score checker feature on various reputable websites is easy and simple. Plus, the whole process is digital, and you can access your credit report from anywhere, anytime.

To learn how to generate your CIBIL score and CIBIL report and to learn more about the important factors in your credit report, read on.

Steps to generate your credit score and report

Note that CIBIL is one of the best credit rating agencies in India and all financial institutions accept the credit score calculated by CIBIL. It is commonly referred to as your CIBIL score. On the official CIBIL website, you can complete your CIBIL report and check your credit score in just a few easy steps!

  1. Go to the CIBIL website and click on ‘Get Your CIBIL Score’
  2. Choose a subscription plan and fill in the form with your name, mobile number, PIN, identification details (PAN card/Aadhaar card/passport), and more.
  3. Click on “Accept and continue” to receive an OTP in the provided mobile number
  4. Make the payment and your registration is complete. Go to your dashboard and check your credit score on the dashboard. You can also view and download your credit report from here

Note that CIBIL offers a free CIBIL score check service too. The process is pretty much the same, except you don’t need to subscribe and you can only get this feature once a year. With this information, you now know how to download CIBIL reports from the CIBIL site.

Important Sections of Your Credit Report

Your CIBIL report is an important document and not understanding its contents can become a problem. Here is a detailed breakdown of things to know in your CIBIL report.

Part 1: CIBIL score

This section contains your CIBIL score, which ranges between 300 and 900. Scores above 750 are preferred by most lenders.

Part 2: Contact and personal information

This section will contain your name, identification information, address and contact number. Check this section carefully to make sure there are no errors.

Part 3: Job details

This section will contain information about your monthly or annual income. CIBIL receives this information from banks and other financial institutions.

Part 4: Account details

This section lists the details of your closed, overdue, settled, and open credit accounts. Check the report carefully to make sure all information is correct.

Part 5: Requests

This section contains information regarding difficult requests made by lenders in your profile. These are recorded each time you apply for new credit and will temporarily lower your CIBIL score. Of course, you shouldn’t apply for new credit without waiting a few months between applications.

By knowing how to download the CIBIL PDF report and access your credit score, you are already well on your way to improved financial management. Remember that if your credit score is not good, you must improve your credit score and then you can do a credit check on the CIBIL official website with a free account or on a paid subscription. On the other hand, you can also benefit from the free CIBIL score checking service offered by Bajaj Finserv. Check your CIBIL score for free and easily access a personalized credit health report to track your progress and monitor your profile.

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