When it comes to your financial well-being, performing a regular credit score check is crucial. It is an important part of your financial profile and speaks volumes about your ability to maintain credit. Your CIBIL score is generated the moment you start your journey with credit. This score is based on your credit report and your past credit experience. It indicates your creditworthiness and is required by lenders to assess new loan applications.
You can run a credit score check with PAN details as it is linked with your financial accounts. The score ranges from 300-900, with scores in the 750-900 range considered the best credit score. You can use your PAN card details to run a free CIBIL score check on the official CIBIL webpage or at several third-party service providers. Note that CIBIL service only allows you to check free CIBIL score once a year. To initiate a credit score check more than once, you will need to pay a fee. Read on for a quick guide on various ways to check your credit scores with your PAN information.
Steps to run credit score check on CIBIL website
Provision of official CIBIL credit score check you can rely on to get accurate information. To check your credit scores for free, here are the steps to follow.
Step 1: Go to the official CIBIL website and find the ‘Self Service’ section. Click on the link following the words ‘Get your free annual CIBIL score and report’
Step 2: Fill the enrollment form with required information.
Step 3: Select the ID type as ‘Income Tax ID Number’ and enter your PAN information below
Step 4: Complete the form, go to the next section to verify your identity
Step 5: Create your account and then access your dashboard to know your free CIBIL score.
As mentioned earlier, you can get this free credit score check only once a year. You should also download your CIBIL score report to fully assess your credit profile.
Benefits of Free CIBIL Score Check There are several benefits of knowing your CIBIL score. Here are a few to note.
– Provides insight into your credit history: Keeping a record of your credit behavior provides clear insight into your credit health. If your score has improved over time, you can be sure that your current financial habits are working for you.
– Assess the credit mix profile: When you check your credit score online, you usually have the option to download your credit report. This document clearly lists your credit mix, highlighting the various open credit accounts assigned to you. Check these to note secured and unsecured credit. If you have a lot of unsecured credit, frequent credit score checks can inform you about your credit utilization and help you avoid problematic transactions that could damage your profile.
– Track your low-interest rate eligibility: Running a free CIBIL score check at your convenience allows you to update your current financial status. This information allows you to gauge your eligibility for new credit and whether or not you are a low-risk applicant. Remember, lenders evaluate your credit profile to determine interest rates and approvals. A high credit score will help you, as it opens the door to better credit facilities with reasonable interest rates, rewards and other factors. So, track your score frequently and apply only when your profile works in your favor.
Now that you know how to do a credit score check online, make it a habit to do it often to maintain a healthy credit profile. Lenders want a CIBIL score above 750 and good financial practices will help you get there easily. To enjoy the perks of a high credit score, pay your bills and EMIs on time and keep your credit utilization ratio below 40%.
Above all, do CIBIL score check by PAN number and monitor your profile without any hassles. The easiest way to do this is to use the Bajaj Finserv website. Here, you can get your free CIBIL score online and in just a few clicks. It helps you track your financial profile and take better decisions while borrowing.
(Note: This article was written by Brand Desk)