A CIBIL score is a three-digit number ranging from 300 to 900, with 900 being the highest possible score. It evaluates a borrower’s ability to repay a loan as well as his or her creditworthiness. A borrower’s CIBIL score is influenced by a number of factors, including the amount owed, the length of their credit history, repayment techniques, and the number of credit inquiries, among others. Your CIBIL score is an important factor in establishing your creditworthiness. A score of 700 to 750 or more is deemed satisfactory. A high CIBIL score also streamlines loan and credit card approval.
Keeping track of your CIBIL score can help you stay informed. As a consequence, if your score is deteriorating, you may take steps to improve it. You can check CIBIL score at any time on the CIBIL website using your PAN card.
Let’s take a look at the procedure involved in it.
Steps to Check CIBIL Score Using PAN Card
Here are the steps for the same.
- Visit the official website of CIBIL.
- Log in to the page by providing your details.
- After logging in, you will view an option of ‘Get CIBIL Score’ on your right top. Click on that.
- Next, you are required to choose a subscription plan among multiple choices.
- Fill in your personal details and create a password. Use that password to log in to the CIBIL page.
- Select ‘Income Tax ID (PAN) as your ID type.
- Provide your PAN details.
- Then select ‘verify your identity.’ You must answer a few questions as part of the verification process.
- Following that, make payment of your subscription.
- Log in to your account by using the OTP you received on your mobile and email.
- Fill in the form carefully and submit it.
- Your CIBIL score will appear on the screen.
What is a CIBIL Dispute
TransUnion, Equifax, Experian, and CRIF Highmark are the credit bureaus that examine your credit history and generate a credit report based on your financial habits. This report includes your CIBIL score, personal information, transaction information, debts, and so forth. However, you may occasionally find inaccuracies in your credit report, such as spelling issues, inaccurate bank information, transaction details, and so on. The process of identifying and rectifying these errors is known as the CIBIL dispute. You can raise a complaint by visiting the CIBIL website and filling out an online form.
How to File a CIBIL Dispute Online
Below are the steps to follow.
- Go to the official website of CIBIL.
- You are obligated to register yourself if you are a new customer.
- Log in to the page with your credentials.
- Go to the ‘Credit Report’ tab and select ‘Dispute Center.’
- Fill up the form carefully.
- Choose the type of dispute you want to file.
- Submit the form.
- It may take up to 30 days for the dispute to be resolved.
What is a Defaulter List
A defaulter list contains information on those who have missed or made errors in repaying previous loans. If you also fall into a defaulter list, it will hurt your creditworthiness. However, you can remove your name from that list by following these steps.
- In order to begin, clear your outstanding dues at the earliest.
- Obtain a certificate from the institution stating that you have no remaining debts.
- Next, provide that certificate to the credit bureau along with an application form requesting them to remove your name from the defaulter list.
Concluding Comments
A high CIBIL score is quite beneficial in exhibiting to financiers your solid economic credentials. It ensures that you receive the best credit offers possible by demonstrating your financial responsibility. However, if your credit report has inconsistencies, your chances of acquiring credit may suffer significantly. As a result, in order to give the best possible service, CIBIL provides a range of ways to contact customer assistance to resolve concerns with your CIBIL report. You can utilise any of them to fix the problem.
Additionally, to save yourself from the defaulter list, you must pay your EMIs and bills on time.
