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How to Check Your Credit Score?

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"How to Check Your Credit Score?"

Shefaali Bopana

Stay updated, get answers to all your Credit Card questions here

<p>
    Your credit score is a number that represents how good of a borrower you are. The Credit Information Bureau India Limited, popularly known as CIBIL, is the credit bureau that tracks your credit history to assign you a credit score.
   </p><p>
    Credit scores are extremely significant for anyone looking to borrow money in the future. Here is everything you need to know about credit scores - how to check credit score, what is a good credit score, how to maintain a good credit score and more.
   </p><h2>
    What is a Credit score?
   </h2><p>
    A credit score is a three digit number that signifies the creditworthiness of a borrower. It represents a borrower’s ability to repay the borrowed amount. The higher your credit score is, the more likely you are to get approved for a loan or a credit card.
   </p><h2>
    How to Check Your Credit Score?
   </h2><p>
    Checking your credit score is now easier than ever. Here is how to check credit score online:
   </p><ol role="list">
    <li>
     Go to the official website of CIBIL
    </li>
    <li>
     Click on ‘Get Your Free CIBIL Score’
    </li>
    <li>
     Enter your details to get your free credit score report.
    </li>
   </ol><p>
    A quick credit score check can help you determine whether you are eligible for the loan or credit card of your choice.
   </p><h2>
    What Are the Factors Affecting Your Credit Score?
   </h2><p>
    Various factors affect your credit score.
   </p><h3>
    1. Credit history
   </h3><p>
    Your credit history reflects the timeliness of your EMI payments over the last 3 years. This includes all your EMIs of home loans, education loans, car loans etc.
   </p><h3>
    2. Credit utilisation ratio
   </h3><p>
    Your credit utilisation ratio is the percentage of the total credit available to you that you actually end up using.
   </p><h3>
    3. Loan portfolio
   </h3><p>
    Your loan portfolio and the number of secured versus unsecured loans are also taken into account while calculating your credit score. If you have been repaying a loan for a long duration, it also adds to your credit score.
   </p><h2>
    What is the Importance of a Good Credit Score?
   </h2><p>
    Having a good credit score can be very beneficial for potential borrowers. Here is how it can help:
   </p><ol role="list">
    <li>
     Your loans get approved quickly.
    </li>
    <li>
     You get approved for credit cards with better reward programs and privileges.
    </li>
    <li>
     You can get higher credit limits on your credit cards.
    </li>
    <li>
     You can get lower interest rates on your loans.
    </li>
   </ol><h2>
    What is a Good Credit Score?
   </h2><p>
    Your credit score can range from 300 to 900. A good credit score is usually considered to be anything above 750. However, a score of 600 or higher is also considered moderately good.
   </p><h2>
    How to Improve Your Credit Score?
   </h2><p>
    Here are some tips to improve your credit score:
   </p><ol role="list">
    <li>
     Pay your EMIs on time.
    </li>
    <li>
     Maintain a credit utilisation ratio of 30% or lower.
    </li>
    <li>
     Close all your existing dues.
    </li>
    <li>
     Create a balanced credit mix of secured and unsecured loans.
    </li>
   </ol><h2>
    Conclusion
   </h2><p>
    Maintaining a good credit score is crucial while applying for loans and credit cards. You can easily avail a free credit score check to be updated about your credit score.
   </p><h2>
    Get a Card that Gives You the Best Bang for Your Buck
   </h2><p>
    If you're looking for a credit card that gives you the best bang for your buck, the
    <a href="https://fi.money/apply-credit-card-online">
     Fi-Federal co-branded credit card
    </a>
    is what you need. With this card, you're assured of a 2% valueback through rewards. But that's not all, as you'll also get 5x on your top 3 brands, 2x on all partner brands listed in the Fi Catalogue (including Amazon, Netflix, etc.) and 1x on everything else, including rent and fuel. What's unique is that you earn points through Fi-Coins. For travellers, the perks are even better, as you can convert your Fi-Coins to airline miles or cashback.
   </p><h2>
    Frequently Asked Questions
   </h2><h3>
    1. How to check credit score?
   </h3><p>
    You can simply check your credit score by visiting the official website of CIBIL.
   </p><h3>
    2. What is a good credit score?
   </h3><p>
    A score above 750 is considered to be a good credit score.
   </p><h3>
    3. How to improve credit score?
   </h3><p>
    You can improve your credit score by regularly paying your EMIs on time, having a credit utilisation ratio of less than 30% and paying off your existing debts.
   </p>

How to Check Your Credit Score? | Fi Money

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