You must have heard the term ‘cibil score’ but might not be having a clear idea what exactly is this score. A credit score, popular with the name CIBIL score, is a single number. The cibil score range is from 0 to 900 which is generated based on your payment history.
CIBIL is one of the leading credit score providers in India. There are many places where you can check your cibil score as it helps in getting a cheaper loan. In the case of credit cards, if you have a good credit score that is if you score is more than 700, you can get a desirable card.
Check CIBIL score by PAN Card for free at Wishfin
As mentioned above, Wishfin is the only online portal in India that has been authorised by CIBIL. The online portal lets you know that credit score within a few minutes. All you need to do is keep your PAN card handy and that’s it. You just have to follow the below steps:
- Visit www.wishfin.com
- Go to check CIBIL score page
- Provide your full name as mentioned on the PAN card
- Enter your Date of Birth
- Choose the gender you belong to
- Mention your PAN card number
- Enter your contact address
- Provide the email ID fn which you want to get the credit report
- Enter your mobile number
- Submit the form
On the successful submission of the CIBIL score form, you will get a confirmation on your email ID. You will get the detailed credit report on the email ID you have provided.
How to improve CIBIL Score
Those who are neither a credit card holder or a loan borrower but want to generate a credit score can apply for any of these. Yes, if you apply for even a consumer loan which is the best option for buying a kitchen appliance, or a new car or a refrigerator and build your credit history. Otherwise, you can also apply for a credit card and improve your score. Here are some of the best options in front of you to improve or generate a good cibil or credit score.
- You can apply for a Consumer Loan
- You can apply for a Home Loan
- You can apply for a Personal Loan
- You can apply for a Car Loan
- You can apply for a Credit Card
- Avoid unnecessary usage of credit cards.
- Try to maintain more than 50% of your credit card limit.
- If possible, do not go for prepayment of the loans as it affects the credit score.
- Pay your loan EMIs or the credit card bill on time.
What Happens If You Don’t Have a Good CIBIL Score?
Forgetting about all the times when people told you to ignore the late payment fines and other mistakes that make you a defaulter? Well, let us tell you that in the banking industry, if you have a good credit score, you can get better deals on loans as well as credit cards. Even though the applicants who do not have a credit history which means they have never taken any kind of loan or have never had any credit card have 0 credit history.
There is nothing these people are missing on but if you a credit history then it is an add-on. The customers who have a good payment history are preferably given better deals in both loans and credit cards. For instance, if you do not have a credit history and you apply for a loan, the lender will have no track of your past payment history which can help it trust you for the future payments. In this case, they will offer a little higher rate as compared to those who have a good CIBIL score.
Thus, you can see checking cibil score for free is as much possible as maintaining a good cibil score.