What is CIBIL /Check Your CIBIL Score Online / CIBIL Score Range / How to Get CIBIL Score / CIBIL Score Online Free through the official website at: www.cibil.com
Check Your CIBIL Score Online
CIBIL Stands for Credit Information Bureau India Limited. CIBIL is responsible to collect and maintain records of an individual’s payments pertaining to loans and credit cards. Member Banks or Credit Institution submit these reports to CIBIL on Monthly basis. CIBIL uses these information to create Credit Information Reports (CIR) and credit scores which are provided to credit institutions in order to help evaluate and approve loan applications. In this way CIBIL plays an important role in the financial system of India. CIBIL’s products, especially the Credit Information Report (CIR) and CIBIL TransUnion Score are very important in the loan approval process. In this article we will provide information regarding check your CIBIL Score Online and how to improve CIBIL Score.
CIBIL Score and its Importance
CIBIL Score or Credit Score is derived using the credit history found in the CIR. Score not only help loan providers identify consumers who are likely to be able to pay back their loans, but also help them to do this more quickly and economically. A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time. CIBIL score is a 3 digit number and the CIBIL score ranges from 300-900. 900 is considered the best score. CIBIL score has great importance, if you have greater CIBIL Score, then there are more chances for your loan application review.
- Your CIBIL TransUnion Score ranges between 300 and 900.
- 79% of the loans approved are for individuals with a score greater than 750.
- Higher your CIBIL TransUnion Score, higher are your chances of Loan Approval.
How to Check CIBIL Score Online
It is easy to check CIBIL Score Online, You have to visit the official website. Here we are providing simple instruction in order to check your CIBIL Score.
- Go to the official website at: www.cibil.com
- After that Click on Credit Card Score.
- Enter asked information in the application form.
- After filling up all the details in application form click on proceed button.
- CIBIL Score will be appeared on your screen.
How to Improve CIBIL Score ?
If you are applying for a loan or a credit card, banks check your CIBIL score to view your credit worthiness. It is better that you check your credit score before you approach a bank for a loan. Most banks take around 72 hours to approve loan requests and in this time you reflect on how you’ve done everything required to keep your CIBIL score high enough. You can improve your Credit Score to make your payments on time, paying the amount promised and play it straight with your bank – never asking for extensions, reductions or settlements. You use your credit card in moderation and make your payments before they are due.
I hope you like the information which are mentioned in this article. If you have any query, you can share with us through comment section. After that we will assist you and provide appropriate information regarding your query. Thanks!