If you have ever been on a financial journey, you must be aware of the fact that how a cibil score plays a crucial role in an individual’s financial lifecycle. You must have heard or read about the same. And, if that is not the case, there are some individuals also whose loan/credit card application might have rejected due to low credit score.
I am sure now you must be wondering why a credit score is so important? How it influences your loan/credit card journey? Well, in order to know the answers of the same, all you need to do is just read this article further.
But before we take you on this ride, it is important for you to know that you can check free cibil score online. Yes, there are multiple sites that allow you to check your score online without any hassle. It is absolutely easy and quick for an individual to check the score online and that too in just a few simple steps.
All you need is your PAN Card and you are sorted. You have to enter the credentials as per your PAN and with the help of the same you can not only know your score in just 2 minutes but can also get your cibil report without any hassle. In order to know the step-by-step guide, kindly take a look at the article below…
- Step 1: In order to check the score, simply open the CIBIL Page
- Step 2: Enter your Name (as per PAN), Date of Birth, Gender and PAN Card Number
- Step 3: Give your Contact Details including your Current Residence Address, Email ID and Mobile Number
- Step 4: Agree to the Terms and Conditions
- Step 5: Click on the Submit button
As you can see above, the steps to check your CIBIL score online is clearly mentioned. Earlier, it was not so easy and a hassle-free process. People used to pay a certain amount online to know their score plus have to wait for few days to receive their cibil report. But not anymore as they have the online facility being offered by some reliable sites that allow an individual to instantly check his score and that too free.
Yes, the most appealing thing about this new process is that it allows you to know every detail attached to your cibil in free of cost. Not only this, you can also get the copy of your cibil report online without paying a penny.
So now that you know how to check your credit score online, it is important for you to check the significance of the same. Before offering the loan/credit card to the applicant, the first priority of the lenders is to check the score just to know the creditworthiness of a borrower. Doing the same will allow the lenders to trust an applicant better as then only the lenders will know the credit profile and credit history of an applicant.
A credit score gives a quick access to an applicant’s profile rather credit history which is a crucial factor for lenders to consider before lending the loan. If the lenders find that a credit score of an applicant is not good, it would be difficult for him/her to grab the lucrative loan deal. Usually, a score of 700/750 out of 900 is considered to be a good score that will help an individual in grabbing the best deal.
Thus, it is important that an applicant should maintain his/her good score by keeping few important things in mind. Well, one wrong move can adversely affect your score, hence reduces the same. In order to maintain your good score, it is important that you should always pay your bills/dues on time. Even a one loan/credit card default can majorly impact your score. And, did you know that frequently free cibil score check online is another key factor that can lower your score.
Yes, if you check your score frequently in a short time-span, it will also hamper your existing credit score. Not only this, applying in multiple banks for loans/credit card and resulting in too many rejections is also a catalyst here that damages your score.
Hope you will find this article useful and worth reading.