How can I improve my CIBIL Score for free?

You must have heard a bad CIBIL or credit score is nothing less than handcuffs in front of good food. Just like your heart pounds when you see delicacies coming your way but the handcuffs are stopping you to grab them, a low or poor CIBIL score won’t let you enjoy the maximum benefits. To be able to do that, you must work towards improving it. First, you need to understand that it is actually the credit score that is the numeric representation of your payment history.

CIBIL is the official credit bureau company which provides the credit score. There are other credit bureaus companies as well but CIBIL has earned the trust of the customers so much so that the score itself has been named with the company.

Are you thinking of different measures how can my CIBIL score improve? In this article, we have focused on some easy yet effective measures that can help you upgrade or create your credit score.

How to improve CIBIL Score?

Here are some of the best options in front of you to improve or generate a good CIBIL or credit score.

  • You can apply for a loan a credit card
  • Avoid unnecessary usage of credit cards.
  • Try to maintain more than 50% of your credit card limit.
  • Increase your limit in case you are sure of using it in a disciplined manner.
  • If possible, do not go for prepayment of the loans as it affects the credit score.
  • Pay your loan EMIs or the credit card bill on time.

How is CIBIL score calculation done?

The calculation of CIBIL is based on the factors as mentioned here:

  • The repayment history (35%)
  • The amount you owe to lenders (30%)
  • Number of years of servicing debt (15%)
  • Number and amount of recent loans taken or applied for (10%)
  • The Credit Mix (10%)

How can you check CIBIL score by PAN card?

You can follow the below steps in order to check your score online:

  1. Go to check CIBIL score check website
  2. Provide your full name as mentioned on the PAN card
  3. Enter your Date of Birth
  4. Choose the gender you belong to
  5. Mention your PAN card number
  6. Enter your contact address
  7. Provide the email ID fn which you want to get the credit report
  8. Enter your mobile number
  9. Submit the form

On the successful submission of the CIBIL score form, you will get a confirmation on your email ID. You will get the detailed credit report on the email ID you have provided.

What is CIBIL score range?

CIBIL score ranges from 0-900 wherein the upper range signifies the eligibility to get the best deals. Banks and NBFCs generally provide a loan or a credit card to the customers who have the score above 750. However, it is subject to change from one product to another and also on your overall profile.

Where can I check my CIBIL score? 

You can check it through the official website of CIBIL wherein you do not have any money. There are many companies that have tied up with the credit bureau company to provide you the score instantly.

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