How to Know CIBIL Score Online?

In an era where wishes and needs are increasingly getting financial in nature, the demand for loans and credit cards is ever so high. Loans can be availed to buy a home, consumer durable, money for wedding and education, besides other financial needs. On the other hand, credit cards come with immense purchasing to buy a wide range of products including mobile phones, fashion accessories, groceries, etc. However, as these are lending products and expose the money provided by banks and non-banking finance companies (NBFCs), these institutions would want to repose faith in customers having a sound credit profile. The credit profile can be judged primarily from the credit score generated by bureaus including the segment leader CIBIL. It generates a credit score that can be viewed online. So, you can get the answer to the question, how to know CIBIL score online, which many ask.

Check CIBIL Score Online in Few Steps

• Visit www.cibil.com
• Click on the link stating free CIBIL score online
• Create your user name and password meeting the requirements in terms of alphabet, numeric and special characters.
• Enter your name, date of birth, gender
• Select from the identity proof - PAN Number, Passport Number, Voter ID Number, Driving License Number, Ration Card Number
• Enter the proof number and address details
• You would then need to verify the details
• Afterward, you can check the CIBIL score online free once a year

Shall You Glance at the CIBIL Report?

You can check the CIBIL report online to see the type of credits you have availed, the loan or credit card applications made so far. The report also highlights the strengths and weaknesses of your credit behaviour. Say, for example, if you are utilizing a heavy chunk of the credit card limit, the report may suggest ways to bring it down. Even if your repayment potential is more, higher credit limit utilization can cause a default. Keep the utilization ratio to 20%-30%.

Check for Any Pre-approved Loan Offers

Now that you know to create a CIBIL login, you can check for any pre-approved loan offers. For that, you need to visit the CIBIL website first and then click on the link stating ‘Customized Pre-approved Loan Offers. The moment you click on the same, a new page will open and ask you to do a login. Just log in with your User ID and password and see whether you are eligible for these offers or not.

What is a Good CIBIL Score?

CIBIL generates a credit score to individuals having serviced the debt for a minimum of 6 months. The score falls in the range of 300 to 900 in India. Anything around 750 and above can be termed a good credit score for personal loan and credit card applications. Home loans, which are secured by the mortgage of the property to be bought, can be granted even if the score is around 650.

Keys to Improving Your CIBIL Score

You can improve the CIBIL score if it is on the lower side. The credit report would tell you exactly the reasons for a dip in the score. Most likely, the late payment or default would be the prime culprit in dragging the score down. Ensure you pay the dues on time by keeping a lid on the overall spends.