You must have heard of the term ‘cibil score’. This is very familiar to the people who have either taken or applied for a credit card or a loan. This is the score based on which the bank or NBFC grants you a credit card or a loan. The score can be checked online as well as offline.
There are many websites where you can check your cibil or credit score. One such website that provides the service online for free is Wishfin. The website tells you the credit card based on your PAN card number without any additional cost involved. Read more to know how can you do it.
However, if you do not have any idea about it, at the end of this article you will surely change.
CIBIL Score Meaning
CIBIL is one of the leading credit score providers in India. 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.
Whenever there is a need of loans or credit cards, banks and NBFCs will ask for your credit score with the help of which they can consider your application. There are many portals where you can check your credit score for free. However, some portals have charges pertaining to the same.
Check CIBIL Score by PAN Card Free Online
Anyone who has a PAN Card can check his/her CIBIL score online for free at Wishfin. You just need to mention the name as per PAN Card, the date of birth and your gender and PAN Card number in the form. Other than this you need to mention the contact details like the address, email ID and mobile number. Once you will mention these details, you can submit the form and you will get the score along with the credit report.
What is a good CIBIL score?
A good cibil score is generally considered to be more than 750. However, there are different lenders and products based on which the figures change. For those who have no credit history, the lender does provide a credit card or a loan but there are certain drawbacks. Those who are applying for a credit card with no credit history might have to compromise with a card that is not offering good reward points or cashback offers.
Also Read: CIBIL Score: All You Need to Know
However, those who have a credit history and a good one, can get best credit cards if they are also earning a good money. Similarly, if you apply for a loan, be it a personal loan, a home loan or a car loan, if you do not have a credit history or have bad credit history, will get a higher rate if they are also not earning a good money. But, if you are having a good cibil score, even though your salary is not very high, you will get a better deal. So, if you have not yet given a thought to improve your cibil score, read more.
How to Improve CIBIL Score?
If you are an existing loan borrower or a credit card user but have sometimes missed paying the bills or the EMI on time, this directly affects your credit score. However, if you can avoid these, it will generate a good score and hence for the improvement try to make payments on time. So, if you want to improve your score, you should make sure that you make the payments on time.
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.
- Apply for a consumer loan
- Apply for a home loan
- Apply for a personal loan
- Apply for a car loan
- Apply for a credit card