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How to check my credit score for free
CIBIL score or credit score is a numeric representation of the repayment history. When you apply for any credit facility (loans or credit cards) the lender checks your CIBIL score and your credit history. On the basis of the score and the credit hisory, your application is further processed. As CIBIL’s first official partner, Wishfin gives you the opportunity to check your CIBIL/Credit score for free by PAN card! You may now learn – how is CIBIL score generated and how can you check it online.
How to Check Free CIBIL Score Online?
To get free CIBIL score online the customer can login on the official website of the credit agency and request for the report. Also, to get the report the customer has to furnish the required documents. It is only after the verification of documents that the customer will receive the CIR through email. The report will be sent within a day.
However, there is an easy and quick alternate where you can check CIBIL score by PAN Card only and no other documentation is required. Moreover, you don’t have to pay any fees and get free credit health check. It is not necessary that only the Bank or financial institution can check the CIBIL score. An individual too can check CIBIL score and get the CIBIL/Credit report online at Wishfin. Just follow the simple steps mentioned below:
How to Check CIBIL score by PAN Card?
You can check your CIBIL by Permanent Account Number (PAN) and some basic details. The score can be checked within 2 minutes by following the simple steps mentioned below.
- Go to CIBIL score page at wishfin.com
- Enter your Name as per PAN Card
- Mention correct Date of Birth
- Select Gender
- Provide PAN Card number
- Enter contact details such as email address, residence address and mobile number
- Agree to the terms and condition
- Click on submit button
Steps to Check CIBIL Score Free on WhatsApp
Wishfin gives you the first ever chance to check your CIBIL score through WhatsApp. Inda’s first process to check CIBIL completly on WhatsApp is now possible. You just have to follow the steps mentioned below:
- Give a missed call to +91-8287151151
- Mobile Number will be added to WhatsApp Chat
- Mention your Name, Date of Birth & Gender
- Enter your PAN Number
- Provide your complete residence address
- Enter your Email ID
As you soon as you complete the above process, you will get your latest CIBIL Score in your WhatsApp chat box. The other way to get your CIBIL score via WhatsApp is to fill up the form and the link, through which you can check the score, will be sent to your mobile number. You can login to your account using CIBIL login details and get detailed CIBIL report free for one year.
What is a CIBIL/Credit report?
CIBIL report is a single unified document that contains credit history across different lenders over a significant period of time. It is a comprehensive report that provides details of an individual’s or corporate entity’s borrowing history and repayment record. The CIBIL report includes the following information:
- Personal details of an applicant (name, age, gender and address)
- Employment details and earnings
- Number of hard enquiries made by potential lenders on receipt of the loan/credit card application
- Record of previous and current loans along with the payment record
- Any defaults on loan
- The details of settled loans, if any
- Total credit limit and the amount spent monthly (Credit Utilisation Ratio)
- Any credit card payment defaults
- Credit score
Is Wishfin an Authentic Partner of CIBIL?
Wishfin is first official fintech partner of TransUnion CIBIL – the company that provides you your official CIBIL score. We are sharing below the screenshot of the authentic partnership by CIBIL. You can also check it on the CIBIL website through this url below.
Will checking CIBIL multiple times hamper overall credit score?
No, you can check your CIBIL score at Wishfin as per your will without making a dent in your overall credit worthiness. If otherwise you go and apply for loans directly at bank or NBFC then the score can fluctuate a bit.
Importance of good CIBIL score
A good credit score makes a person eligible for better deals on loans and credit cards. Having a good CIBIL score not only gives access to more options, it is also an important factor in deciding payment habits of individuals. Credit facilities such as a credit card or loan are provided based on the present employment status of the customer also on their CIBIL score.
What are the benefits of having a good CIBIL Score?
However, it does not mean that if you have a bad CIBIL score, you can not get a loan or a credit card. Many people get loans and also use credit cards even if they have 0 or bad CIBIL score. But – beggars are not choosers. There are surely some advantages of being on the good side of the scale. So, here are some of the benefits of maintaining a good credit score.
- Increases eligibility for loans – CIBIL score is the numeric representation of payment history. If you have a good credit score, the lender will be interested in giving a loan to you.
- Gives access to best Credit Cards – Some of the great credit cards require a specific credit score which will be accessible to you only if you have a good credit or CIBIL score.
- Authenticity for a lower rate of interest – Especially in the case of loans, those having a positive payment history and credit score are more likely to get a lower rate on loans in addition to their present repayment capacity.
- To build a credit history – Just in case, you have zero credit history and score, the moment you start using a credit card or paying EMIs, your credit history will build up and so will your credit score. This will make you eligible for better options in the future.
How is CIBIL Report Generated?
Credit Information Bureau of India Limited (CIBIL), India’s first Credit Information Company collects and maintains the records of individual’s and non-individual’s (commercial entities) credit related transactions such as loans and credit cards. These records are provided by banks and other lenders on a monthly basis to the Credit Bureau. Using this information a Credit Information Report (CIR) and Credit Score is developed. This enables the lenders to evaluate and approve loan applications based on the past record.
How is credit score calculated?
The member banks and financial institutions monthly report the details related to credit activity of the customers to the bureaus. This includes data of each loan or credit card repayment made by the customer during the period and even the late or skipped payments. The report comprises of new loan applications, interest rate, credit limit on card, the status of all loan accounts including those ‘written-off’ or ‘settled’ or ‘closed’. After the complex statistical analysis of the provided information credit score is calculated. If credit payment is done on time then the score is good. The candidates with high credit score have the better chances of getting a loan or credit card.
How to Improve CIBIL Score?
In order to get best deals on credit cards and loans, it is important that your credit score is good. In India, lenders such as banks and NBFCs would consider your application suitable for the credit facility only if you have a good credit score. It is also true that most of the people do not have a credit history and still avail the service but the fact is that they are not eligible for the best deals. Thus, maintaining a good credit score becomes important. There are different measures to improve your CIBIL score some of which are mentioned below:
- Pay credit card bills on time
- Make sure EMI deductions (if any) are successful
- Avoid unnecessary expenditure
- Apply for a loan or credit card
Terms & Conditions
By accepting our “Terms and Conditions” you authorize Wishfin and its associated Partner Banks to run a CIBIL/Experian check for your profile
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Address : ____________________________
Date : ____________________________