A credit score is the numerical representation of the payment history of an individual. Experian is among the top credit bureau companies where you can get your credit score checked. The service is free of cost and instant.
In this article, we have focused on the steps that you can follow in order to check your Experian credit score. Later, you would find some other beneficial information regarding the same.
How can you check your Experian score?
If you want to check your score, you can follow the simple steps involved in the process:
- Provide your Full Name, Mobile Number, and Email ID and click on the ‘Submit’ button.
- You will then receive an OTP on the registered mobile number
- Submit that OTP and click on ‘Verify & Continue’ tab
- Mention your Date of Birth and Gender
- Provide your Permanent Address including the state, city, Pincode
- Enter your Permanent Account Number (PAN) and submit.
What is a good credit score from Experian?
The credit score at Experian ranges from 300 to 900 where the higher score gives you the option to get desired deals on credit cards and loans. If you have a bad score, you might not a credit card which has great features and is one of the top credit cards. Also, a poor credit score might stop you from getting loans at a lower rate of interest. The applicants who have a score above 750 are generally eligible for most the good credit card deals and loans at lower rates. Those who have a score below it have limited options but yet are eligible for them.
What is your credit score if you have no credit history?
As mentioned in the beginning, credit score is the representation of the payment history, the credit score of those who have no credit history is thus zero.
7 Measures to Improve Your Credit Score
There are people who have missed some payments of their credit card or EMIs and that has affected their credit history which is something very common. In order to improve the credit score, there are various effective and simple measures. You may read these below and follow them if your case is the same.
- Avoid carrying credit cards that you do not need.
- Don’t increase your credit limit just like that as it affects your credit score.
- You may ask your bank to increase the credit limit but make sure it still remains within your repayment capacity.
- Try not to use more than 50% of your credit card limit, it reduces the score.
- Apply for any kind of loan to build a credit score.
- If possible, continue your loan for the whole tenure, prepayments also have an impact on the credit score.
- No matter what, pay your credit cards bills and EMIs timely.
What is your Credit Score used for?
The need of credit score is when you apply for a credit facility such as loans or credit cards. Lenders would check your credit score and if it is up to the requirement as per the product, your application would be considered. The score 750 or above is considered to be the most commonly preferred score and is an entry card to maximum credit facilities.
However, the score above it or 800 makes an individual eligible for best credit cards or low-interest rate based loans. It is also important for you to note that the product is offered to the individual not only on the basis of the credit score but the eligibility criteria and documentation play crucial role. Thus, having the matched criteria and documents along with a good credit score would provide you the access to most of the products available in the market.