Whether you intend to apply for a loan, credit card, or a phone on EMI, your credit score plays a major role. It is one of those things that people generally know is important, yet they decidedly ignore such issues until they hit them head-on with a problem.
The best part? You can check your credit score online within a few minutes, and there are no prerequisite requirements to be able to determine your score.
This guide will run you through exactly how to check your credit score online without any fuss. It contains simple steps and well-explained descriptions. No jargon. No confusion.
What is a Credit Score?
Before we jump into the “how,” let’s quickly cover the “what.” A credit score is basically a number between 300 and 900 that tells lenders the likelihood of you repaying the money. A higher score means a better chance of load approval and a favourable interest rate.
If you’re looking for more personalized financial advice after checking your credit score, consider reaching out to professionals who can guide you through the complexities of credit management. It’s important to have a clear understanding of your financial standing and how to improve it. For those who need tailored solutions, you can get in touch with experts who offer comprehensive services to help you achieve your financial goals. This step can be crucial in ensuring that you not only understand your credit score but also take actionable steps to enhance it.
In short, it shows your financial behaviour- how you manage your money, repay debt, and act responsibly regarding credit.
Why Should You Check Your Credit Score?
Here’s why checking your credit score is a smart move:
- You’ll know where you stand before applying for a loan or credit card.
- You can catch mistakes or outdated information that may be dragging your score down.
- It helps you plan better if you want to improve your credit health.
- It prevents unnecessary rejections and surprises.
And the best part? It doesn’t hurt your score to check it yourself.
Where Can You Check It?
In India, there are four main credit bureaus:
- CIBIL (TransUnion CIBIL)
- Experian
- Equifax
- CRIF High Mark
All of them maintain individual credit reports, and you’re entitled to get one free credit report per year from each bureau.
Apart from the official bureau websites, there are also trustworthy platforms like:
- BankBazaar
- Paisabazaar
- Cred
- Paytm
- ClearScore
These apps or websites fetch your score from one of the bureaus and present it to you in an easy format. Most of them don’t charge anything, so you can check credit score for free.
Step-by-Step: How to Check Your Credit Score Online
Here’s a simple guide that works for most platforms:
Step 1: Choose a Trusted Platform
Pick any of the platforms mentioned above. If you’re going through the bureau website directly, that works too. Make sure the site is secure (look for “https” in the web address).
Step 2: Sign Up or Log In
You’ll need to create an account using basic details:
- Full name
- Date of birth
- PAN number
- Mobile number
- Email address
Some platforms might ask for additional info like your address or past loan details to verify your identity.
Step 3: OTP Verification
Once you fill in your details, you’ll get an OTP on your registered mobile number or email. Enter the OTP to continue.
Step 4: Answer a Few Questions (Sometimes)
In some cases, especially on bureau sites like CIBIL, you might be asked questions related to your past loans or credit cards to confirm your identity.
Example: “Which bank issued your credit card ending in 1234?”
Just answer to the best of your knowledge. It’s part of the security check.
Step 5: View Your Score
Once verified, your credit score will appear on your screen. You might also see:
- A brief credit report
- Loan and credit card accounts
- Payment history
- Any missed or delayed payments
That’s it. You’re done.
How Often Should You Check It?
Checking your credit score once every 3 to 6 months is a good habit. If you’re actively planning to take a loan or improve your score, check it monthly.
Remember, when you check it, it’s a soft inquiry. It doesn’t harm your score at all. But when banks or lenders check it, it’s a hard inquiry, which can slightly reduce your score if done frequently.
What If Your Score Is Low?
If your credit score is on the lower side (say below 650), don’t worry. It’s not the end of the road. Here are some simple things you can do:
- Pay credit card bills and EMIs on time.
- Don’t max out your credit limit.
- Avoid applying for multiple loans or cards at the same time.
- If you have old unpaid dues, try to clear them.
Over time, your score will improve. But it takes consistency.
Watch Out for These Red Flags
- Never pay just to view your score: Most platforms offer it for free.
- Avoid shady appsthat ask for unnecessary permissions or personal documents.
- Ignore spammy offerspromising a credit score boost overnight. It doesn’t work that way.
Final Thoughts
Checking online credit scores is one of the finest and most productive services one can undertake to nurture good financial health. Checking your credit scores takes hardly five minutes, and it is absolutely free, hence putting power in your hands.
You don’t have to wait for a loan refusal or financial disaster to check it. Check regularly, understand what affects it, and take steps to keep it healthy.
It is your money. Your credit. And it is your move now.
