CIBIL score is a three-digit number that reflects your creditworthiness and indicates the likelihood of repaying your debts on time. A high CIBIL score makes it easier for you to get approved for loans and credit cards at lower interest rates. While a low score can make it difficult to get credit and result in higher interest rates.
Nowadays, it is very easy and convenient to check CIBIL score free online and understand the crucial steps of how to increase credit score. Financial institutions such as Bajaj Finserv or online CIBIL monitoring services like Bajaj Finserv Credit Pass allow you to check CIBIL score free online. These online services also provide tips and advice on how to increase credit score.
How to check CIBIL score free online?
To check credit score free online, you can follow the simple steps lists below:
- Visit the Bajaj Finserv official website at bajajfinserv.in/check-free-cibil-score to check CIBIL score free online.
- Find the “Check Your CIBIL Score” section on the website.
- Click on the “Check Score” link to check CIBIL score free online.
- Enter your mobile number to log in, and receive a One Time Password (OTP).
- Enter the OTP on the next screen and click the “Submit” button.
- Fill out the online form with your name, date of birth, PAN card number, and other require details.
- Accept the terms and conditions.
- Click on the “Submit” button to complete the process.
- Now you can check your CIBIL score free online. Your CIBIL score will be displayed on the screen.
How to increase credit score?
- Maintain a good credit history: Late or miss payments can have an adverse effect on your credit score. Be sure to pay all bills promptly to maintain a healthy credit history.
- Maintain a low credit utilisation: Credit utilisation refers to the amount of credit you are using relative to your available credit limit in a credit card. It’s recommend that you keep credit utilisation below 30% to maintain a healthy credit score.
- Monitor Your Credit Report Regularly: Review and check credit score free online frequently and report any discrepancies to the bureau. This can help boost your credit score by rectifying errors or removing inaccurate data.
- Avoid Opening Too Many Accounts: Too many credit accounts can negatively affect your credit score. Therefore, it’s recommended that you limit the number of accounts opened to only those necessary for daily life.
- Utilise Different Types of Credit: Utilising a combination of credit types like loans and cards can help boost your credit score, demonstrating your capacity to manage various kinds of loans and credit accounts.
- Keep Old Accounts Open: Closing old credit card accounts can have an adverse effect on your credit score, as it reduces the size of your credit history. Therefore, keeping existing accounts open and utilising them occasionally is better.
- Negotiate With Creditors: If you have difficulty making payments, try negotiating with your creditors for a more manageable payment plan. By following the steps of how to increase credit score, you can help in maintaining your score from negative repercussions.
- Utilise Credit Responsibly: Use credit responsibly and avoid taking on more credit than you can handle. This can help you maintain a good credit score over time.
Benefits of checking free CIBIL score online
- Easy accessibility: Checking your credit score online is a quick and easy process. You can check your score from anywhere and at any time.
- Helps you understand your creditworthiness: By checking your credit score, you can understand your creditworthiness and take steps to improve it.
- Identifies errors and discrepancies: Checking your credit score can help you identify any errors or discrepancies in your credit report. This can help you rectify them and understand how to increase credit score.
- Helps you negotiate better terms: A good credit score can help you negotiate better interest rates and terms for loans and credit cards.
- Improves your chances of getting approve for credit: A good CIBIL score improves your chances of getting approved for credit cards and loans.
- Saves time and money: Checking your CIBIL score online saves time and money that would have been spent on visiting a bank or credit bureau.
- Helps you plan your finances: By checking your CIBIL score, you can plan your finances better and take steps on how to increase credit score.
- Provides regular updates: Regularly checking your CIBIL score online on Bajaj Finserv Credit Pass can help you stay updated on any changes in your score and take appropriate actions.
Summary
Checking your CIBIL score online is an easy and convenient process that can help you take control of your credit health. By regularly monitoring your score and understanding the crucial steps of how to increase credit score. You can identify any discrepancies in your credit report. Increasing your credit score improves your chances of getting approved for loans and credit cards. It can also help you negotiate better interest rates and loan terms.
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