A Complete Cheat Sheet on What is Cibil Score

June 25, 2018 Business No Comments

Those who have already been on a financial loan journey would surely agree on the fact that what significance a three-digit numeric summary has. Whether it’s a loan or credit card, it would not be wrong to say that these three-digits always come into the picture. Yes, most of the lenders before offering the loan or credit card do ask what is cibil score of an applicant.

Soon after knowing the same, lenders then decide whether an applicant is eligible enough to get the required credit or not. However, one thing that needs to be mentioned here is the fact that those who don’t know what importance this score has and what basically it stands needs to know more about the same in the article below.

Yes, all you need to do is simply go through the article in order to clear all your doubts. So, without wasting any time further, let’s get started.

What Credit Score Stands For?

Talking about what is cibil score, it is nothing but a numeric representation of an individual’s credit score and repayment history. It basically represents the past record of an individual which further allows the lenders to have a quick access to an applicant’s profile. When it comes to the past record, it basically involves the previous loan/credit card repayment, loan/card details and many more. Soon after going through these credentials, lenders then decide whether an individual is eligible to avail a loan or credit card.

When it comes to this score, it is a three-digit numeric summary that usually ranges between 300-900. And, among this range, a score of 700 or 750 is considered to be good enough that helps an individual in grabbing the best deal. Yes, most of the lenders do prefer this score as it shows the credibility of an individual and creates a positive impression in the eyes of the lenders.

However, one thing that needs to be mentioned here is the fact that now we are talking about this three-digit summary, thus it is also important that we need to talk about the process of checking the same. That’s Right! What are the ways through which one can check the score? Well, you would be glad to know that there are two different ways that allow you to do the same. So, let’s just know more about these methods in the article below…

Via PAN Card: Yes, with the help of your Permanent Account Number, in just 2 minutes, you can know your exact score. You just need to provide a few of your details and follow the simple steps online. You simply need to provide your PAN Number, Date of Birth, Gender, Email, Mobile and Residential Address.

Via WhatsApp: Experience India’s fastest process to check your credit score on WhatsApp. That’s Right! You simply need to give a missed call on +91-8287151151 and follow the simple steps to know the score. It is absolutely easy and a hassle-free process to know the same.

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