Easy Guide To Get CIBIL Score Report And 5 Reasons To Do It Regularly

Your CIBIL score report is essential to understanding your current credit health and how lenders view your profile. Understanding your CIBIL score report also arms you with the information needed to boost your score. When you regularly check your CIBIL score report, you have a better grasp on the impact of your actions. 

Although accessing your CIBIL score report was once a challenge, things have changed. Now, you can access your report within minutes. On the official CIBIL website, you can check CIBIL score and report for free. But this is only available once a year. Some third-party service providers also offer the service, and these services are free. 

Read on to know more. 

Steps to check CIBIL score and report

To maintain your credit health and boost your credit score, you need to check CIBIL score information and assess your CIBIL score report often. To do that, scout for third-party service providers offering the service. Lenders who are official partners of TransUnion CIBIL can provide you with a free CIBIL score report in just a few simple steps. 

Bajaj Finserv is among these lenders, and you can get a customised Credit Health Report when you check your CIBIL score. To get your CIBIL score report and check CIBIL score all you need to do is follow these steps:

Step 1: Log on to the Bajaj Finserv website
Step 2: Click on the ‘Check Score’ button
Step 3: Wait to get redirected to a new page and fill the form with basic information
Step 4: Click on ‘Submit’, enter the 6-digit OTP sent and complete verification
Step 5: Check CIBIL score information 

After this, you can get your CIBIL score report at a nominal price by clicking on ‘Get Full Report’. Once you make the payment, you can assess your credit health. Your Credit Health Report will contain information about your account summary, repayment, analysis of your score, and insights on what you can do to improve your CIBIL score. 

This report is personalised and based on your past and current borrowings. With it, you can grow more aware about your creditworthiness and the factors that impact it. Moreover, if you have a low score, it may be time to know a few remedial measures to improve it. 

Reasons to regularly monitor your CIBIL report 

There are many benefits to checking your credit information on a regular basis. For one, it alerts you about changes. In case your score improves, it means that you are making the right financial decisions. Alternatively, a dip in your score suggests a problem and you can begin to rectify it right away. All in all, this information allows you to prioritise your credit health. 

For more insights, here are some more reasons why you should regularly monitor CIBIL score report.

  • Check the accuracy of the information
    In some instances, the credit bureaus may receive delayed information, which can result in inaccurate information in your credit report. You can resolve this by contacting the bureau and stating the issue. Ensuring that your CIBIL score report is error-free is important because inaccurate information can reduce your score and thereby your eligibility for better offers. 
  • Understand your financial standing
    Your CIBIL score report contains information about your credit accounts. This includes outstanding as well as closed accounts, for a given period of time. Knowing your outstanding credit can help you better plan your future decisions while prioritising your financial wellbeing.
  • Take swift and accurate actions to boost credit score
    Generally, when one starts working on improving their credit score, the simplest move is to focus on timely payments. However, this can be futile if your problem is over-utilisation of credit. When you check CIBIL score report, you can avoid this and take m  ore effective measures that are directed towards the factors that need attention. 

Now that you have the information on how and why to check your CIBIL score report, build the right habits. Remember to check CIBIL score before you apply for a new credit. Doing this gives you insights about your eligibility and enables you to make smarter decisions. To get your CIBIL score report, you can visit the Bajaj Finserv portal and check CIBIL score in just a few simple steps. 

Here, you need not provide any login credentials and can directly access your credit score, making the process quick and hassle-free. So, check CIBIL score today to improve your credit health and be credit ready.  

[Disclaimer: This article is a paid feature. ABP and/or ABP LIVE does not endorse/ subscribe to the views expressed herein. We shall not be in any manner be responsible and/or liable in any manner whatsoever to all that is stated in the said Article and/or also with regard to the views, opinions, announcements, declarations, affirmations, etc., stated/featured in the said Article. Accordingly, viewer discretion is strictly advised.]