How to Check Your Credit Score?
Checking and maintaining the credit score is an important aspect of personal finance of an individual. if you don’t check your credit score even once in a year, you will have no idea what had to be planned to maintain a healthy credit score. A health credit score is mandatory for getting the credit at the best interest possible and also if you have the good credit score you will have less hassle in availing the credit.
Bank, financial institutions and other lenders when lending money to any individual checks the individuals credit score to assess the risk profile of the individual. A credit score is the best representation of the financial behaviour of the individual and based on this almost all lending institutions make decision-related to lending.
In these times of uncertainty, we will never be sure of when we might need some emergency credit. And in such cases having a good credit score will not only make it easy to avail the credit, but also provides you with the best offer possible for your credit score.
The process to check your credit score is explained in detail in this article.
As per RBI report, all the credit rating agencies in India should allow one free credit score checking per person per financial year. hence you can check your credit score with all the credit rating agencies once in every financial year. the best way to use this feature of free checking of credit score is to check one every quarter in one of the 4 credit rating agencies.
All the credit rating agencies charge you to allow to check your credit score multiple times in the year. But here are few other apps which allow you to check your credit score with some limitations. you can use ET Money and CRED which in addition providing the service they intended for also allows users to check credit scores.
TransUnion CIBIL
In this method we will help you to check your credit score for free.
- Visit the website of Transunion CIBIL by clicking here
- Fill all the details such as Name, ID details and other details asked in the form.
- Verify your identity in the next step as prescribed in the form
- Your credit report will be mailed to you which included all the details of the account you have and the payment history and others.
CIBIL also had a paid feature which allows you to check your credit score unlimited number of times.
Experian
Checking your score in Experian is so simple.
- Go to the main page of Experian by clicking here
- Click on free credit report button on the top right or you can directly click here ignoring the step 1
- Give all the details in the form that are asked and click on generate my credit report.
- You credit report will be generated and will be mailed to you.
- The report contains all the details about your payment history of all the account you are holding and the live and closed account details.
Bottom line – Check your credit score
An individual has to keep checking the credit score regularly in case if he is expecting to avail any type of credit in future. Because having a good score will help big when it comes to availing the credit. And when there is a fall in the score it is not that easy to gain back the score and it takes a lot of time to gain back good score.
