The credit score is usually a deciding factor for any loan approval. Lenders determine your creditworthiness by looking at your credit score. It is a 3 digit number between 300 and 900. This is especially important for unsecured loans like personal loans. Applying for a personal loan with poor credit will lead to the rejection of the personal loan application. So, it is better to check the credit score before applying for a personal loan. You can do a free credit score check on CreditMantri. You can also download a free credit report on our website. We provide a hassle-free process to check your credit score.
Steps to Check Your Credit Score On CreditMantri
You can do a free credit score check once a year from CIBILTM by following the steps given below
Step 1: Go to the official website of CreditMantri
Step 2: Go to the tab ‘Free Credit Score’
Step 3: Enter your mobile number and click ‘Check For Free’
Step 4: Enter the OTP received on your mobile to complete the verification process
Step 5: Proceed with the rest of the steps as per the instructions and obtain your free credit score and credit report.
Steps To Check Your CIBIL ™ Score Online
You can check your credit score for free from CIBIL ™ once a year.
Step 1: Log in to the CIBIL ™ website and click on the tab ‘Get your free CIBIL ™ score and report’
Step 2: Create an account by entering your personal details, such as your name, ID Proof (Such as PAN card or Aadhaar card), email ID, PIN code, and phone number.
Step 3: After you have filled these fields with accurate details, Click on the ‘Accept and Continue’ tab.
Step 4: You will get an OTP on your registered mobile number.
Step 5: Enter this OTP and complete the verification process.
Step 6: Post successful verification, you will be directed to a new window, confirming your enrollment.
Step 7: Now, click on the ‘Go to Dashboard’ option to see your credit score.
Step 8: You will be forwarded to a new page. You can view your credit report here.
If you already have an account with CIBIL™, you can log in directly. Click on ‘My Account’ and go to the tab, ‘Get your Free Report’.
Steps to Check Your CIBIL™ Score Online By Paying
Step 1: Log on to the official CIBIL™ website and click on Know Your Score.
Step 2: Complete an online form that asks for details such as name, date of birth, address, past loan history, ID proof, and other appropriate data.
Step 3: Post filling out the form and accepting the changes, you will be directed to the payments page.
Step 4: You can choose from multiple payment modes such as credit cards, prepaid cards, netbanking, etc.
Step 5: An amount of Rs. 550 has to be paid to CIBIL™ to get your credit report.
Step 6: After making the payment, you will be forwarded to the authentication
Step 7: You have to answer 5 questions pertaining to the credit history and at least 3 answers have to be correct to authenticate your identity with CIBIL™
Step 8: Your report will be dispatched to your email within 24 hours
Step 9: If authentication does not take place, you can send a hardcopy to
CIBIL™ via mail.
Step 10: You will also receive the report by mail.
Tips To Improve Your Credit Score
- Limit your Credit Utilization: Make sure you do not use the credit limit to the maximum extent. This implies that you are hungry for credit and have a lot of debt on your report. Lenders might not be confident of your repaying capacity if you are already using your current facility to the maximum. It is advisable not to spend more than 50% of your credit limit.
- Check your credit report for errors – Sometimes, there might be discrepancies on your credit report. This might be the cause of a bad score. You can then contact the credit bureau and rectify the errors.
Getting the error corrected will improve your credit score automatically.
- Keep accounts with good credit history on your report – Retain accounts with a good credit history, i.e., payment of dues on time, full payment of dues, no extra credit taken, etc. on your credit report. They will reflect well on your creditworthiness.
- Restrict the number of hard inquiries– Limit the number of times you apply for a credit card or loan. Whenever you apply for a loan or a credit card, a hard inquiry will be conducted. Too many hard inquiries reflect badly on your credit report as lenders will get the impression that you are credit hungry. Then, the lender might not be confident about your repaying capacity.
Conclusion
It is important to build a good credit score and also maintain and track it. Follow the methods given above and you can easily get your credit score.