Have you been lately worried about checking my credit score? Are your friends tired of listening to the same concern again and again? Do not worry, because it is not as difficult as it might seem. You only have to follow some simple steps and get your credit score check within a few minutes.
In order to do so, you may read this article. Later on, you will find out why is so much push is given on maintaining a good credit score and also how is this 3 digit numeric value calculated. You will be able to understand how even a small push hampers your creditworthiness and hence you will be able to handle it.
Credit Score Check – CIBIL And Experian
Considering the two most commonly preferred credit bureaus – CIBIL and Experian, we have given the steps through which you can check any one of these two. Do not do multiple checks at any of these two, it will hamper your credit report and gradually your credit score.
How Can You Check CIBIL Score?
Follow the below steps to check your score online:
- Full name as mentioned on the PAN card
- Date of Birth
- Select gender
- PAN card number
- Contact address
- Email ID
- Mobile number
How Can You Check Your Experian Score?
To check the score, follow the below-given steps:
- Name, Mobile Number, and Email ID
- Submit the OTP received on the registered mobile number
- Click on ‘Verify & Continue’ tab
- Date of Birth and Gender
- Permanent Address including the state, city, Pincode
- Permanent Account Number (PAN) and submit.
How Does Credit Score Affect You?
A good credit score is very helpful. It helps in getting the lowest possible interest rate. You become eligible for best credit cards only if you have a credit score of 750 or above. Some banks even demand 800 above credit or CIBIL score. So, it might not affect your personal life but it certainly has a direct impact on your financial health which is equally important. When you are financially fit, you have the confidence to beat any financial crisis. A healthy financial life requires good saving and also a good credit score so that if there is a point when you are falling short of money, you can apply for a loan. This loan could be used anything from traveling to medical expenses. So, make sure you maintain a food credit history to be able to get any loan as per your requirement.
How Is Credit Score Calculated?
Your credit score is calculated on the basis of the below-mentioned factors:
- The repayment history (35%)
- The amount you owe to lenders (30%)
- Number of years of servicing debt (15%)
- Number and amount of recent loans taken or applied for (10%)
- The Credit Mix (10%)
The above information on my CIBIL score must have been helpful. So, relax and check your credit score in case you are looking for a loan or credit card. You must have realized that it is not at all difficult to check it and also maintain it.