What is CIBIL Score?

What is a CIBIL Score?. It is also called (CIBIL) CIBIL Report. This post has given complete information about CIBIL Score, Rating, Calculation, as well as how you can check your CIBIL Credit Report Online.

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What is CIBIL? What is CIBIL?

The full form of CIBIL is Credit Information Bureau (India) Limited, which is the first credit information providing company in India to provide information about money, loans and credit cards deposited in the bank of any company or individual .

The CIBIL company also provides credit score, with the help of which it is known whether a person or company account can get a loan or credit card . This company can tell about the information of any person’s account, how much his credit report or score will be.

What is a CIBIL Credit Report? What is CIBIL Credit Report ?

A CIBIL report is a comprehensive document that contains information about transactions such as the purchase and sale of an individual or company . It provides a detailed picture of the ability of a person or company to take a loan based on past and present credit.

The credit report is provided by 4 credit bureaus which are –

  • TARGET
  • Equifax
  • CRIF High Mark
  • Experian

What information does a credit report contain? What are the details which are included inCredit report?

Some of the main information that remain in the credit report –

  • Personal information of the person like name, age, gender and address.
  • Information on the person’s employment, occupation and income.
  • Number of inquiries made by potential lenders on receipt of their loan / credit card application.
  • Information on old and current loans with payment records.
  • Any default on the loan and any ‘settlement’ loan information.
  • Total credit limit and monthly spending amount.
  • Default in any credit card payment.
  • In the end, a credit score that helps prospective lenders know your credit worthiness.

Importance of a CIBIL report?

The most important thing about the CIBIL report is that with the help of this you can get loan and credit card application from any bank as soon as possible. A CIBIL report contains clean credit information that provides complete details of your (consumer) account to companies or banks that provide loan or credit card through a credit score, thereby providing a loan And you get the credit card as soon as possible.

What is a good CIBIL score? What is a good CIBIL score?

A CIBIL score is a three-digit number that is calculated between 300–900. A good credit score is considered to be 750 or more. This information is calculated based on your old loan and credit card payments . This CIBIL report is given in the credit report of every account.

How to increase your credit score? How to increase your CIBIL Credit score?

  • Provide your EMI on time.
  • Pay your credit card bill as normal.
  • Use your Credit Limit correctly.
  • Do not apply for new cards again and again.

What are the reasons for low CIBIL score? What are the reasons behind low and decreased Credit score?

  • Bank check bounced.
  • Non-payment of loan amount on time.
  • To be a guarantor and defaulter by any other person.
  • Non-payment of credit card amount on time .

How to see your cibil scroll? How to check CIBIL report online in India?

You can check the CIBIL score online by visiting the website of https://www.cibil.com/creditscore

 

by Abdullah Sam
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