How to get Cibil online credit rating scores report ?
In case you are planning to take a credit card, home loan, personal loan or any other loan, do you know that your banks or financial institutions would verify your score on credit rating and then sanction the same? If you have poor credit scores rating, then your application would get rejected. In this article we would discuss about the Cibil credit rating scores report, how it impacts your credit card or loan application.
Who is CIBIL?
CIBIL refers to Credit Information Bureau (India) Limited. It is the central body in India who is maintaining the credit rating scores information of all persons who availed any loan or having credit cards. All financial institutions and banks would provide regular updates to CIBIL about the financial details of the individuals.
What is a credit rating scores?
A credit rating scores is your detailed credit history and full evidence of your credit worthiness. If you have applied for a credit card or loan and If you have a lower credit scores rating, then the chances of rejections of your application is high.
What does Cibil report contain?
Cibil report contains the CIR (Credit information report) along with rating the credit scores. This credit score rating is given by Cibil based on the credit history of an individual. This report also includes the on-time payments, payment history, lenght of the credit history, recent credits, how much of the total credit utilized till date etc. The credit score would be ranging 300 to 900. The longer the credit history you have, the higher would be your credit score. If you have a higher score, then your application of loan or credit card would get approved by banks of financial institutions.
How to apply for online Cibil report?
Please read the complete details before you start the process for applying for Cibil report.
- Visit site https://www.cibil.com/online/credit-score-check.do
- Fill up the online application form which contains individual information + any existing credit card + any existing loan details.
- Once you completed the above information, you would be taken to next screen. You need to make payment for Rs 470 through internet banking. Once you complete the payment, you would be taken to next step.
- You would be asked to fill a few questions pertaining to your credit cards or previous loans. You should be very careful in filling this information. If you fill wrong information, you may not get online rating of your credit scores. The questions would be mostly about your previous loans, financial institution names or bank names, loan amounts etc. In case you have taken multiple loans, put them on a piece of paper before you start the process.
- Once all the questions are answered correctly, you would get the online credit score details.
- In case any of the information provided about your loans are incorrect, your authentication would be failed. In such case, it would ask you to take the acknowledgement print or you can save the payment details.
- If your authentication is failed, you may need to proceed with manual process. You need to send acknowledgement with necessary address proof, PAN card or driving license to CIBIL address through post.
- You would get your credit scores rating after 10 days of receipt of your documents by Cibil with this manual process.
Conclusion: Credit rating scores has become important documents for banks or financial institutions for issuing a credit card or any loans to individuals. Get your Cibil credit rating score card before you apply for any loans.
Readers, are you aware of this Cibil report and what are your experiences? Please give your comments
If you found this article is good, share the link in Twitter/Face book. The links are provided below.