Where to get your credit report, How to read it!
What is a credit report?
A Credit Report is a detailed statement that has all the information about:
- your credit or loan history
- how and when you pay your EMIs
- how much debt/loan you have
- how long you have been running your loans
- how many times have you applied for the loan in past
It is like a report card on how you are managing your loans and credit cards.
Pls note: All the personal and loan information as seen in the credit report is based on what is shared by the bank/loan company which have given the loan to you.
What does a CIBIL TU credit report look like?
(Sample credit report, with below info around it)
1. CIBIL TRANSUNION Score
Your 3-digit measure of creditworthiness, ranging from 300-900, based on your repayment behavior
2. Personal Information
Details like name, DoB, PAN Card number, Passport number, etc. as reported by the banks and loan companies
PS: Make sure this information is accurate
3. Contact Information
Various contact details provided by various lenders are recorded here.
Up to 4 addresses are mentioned here.
4. Employment Information
Monthly or annual income details are captured here as reported by the lenders at the time of loan application.
5. Consumer Disputes
This will appear only if the customer has disputed any information.
Disputed sections are marked in red with the details given in a red box above that section.
These will be removed when resolved, but the information may or may not be changed basis the revert from the banks/loan company
6. Account Information
Name of lenders, types of credits, account (loan) numbers, dates the accounts were opened, date of last payment, loan amount, current balance, amount overdue (if any), month on month payment record of up to 36 months
It's the most important section. Any errors observed should be reported to your bank and corrected urgently
7. Enquiry Information
This section details out the purpose for which the enquiry is made and the approximate amount for it is highlighted in this section.
What other credit bureaus are there in India?
Experian Equifax CRIF High Mark
Where can you get your credit report?
https://www.experian.com/consumer-products/free-credit-report.html
https://www.equifax.com/personal/credit-report-services/free-credit-reports/
https://www.crifhighmark.com/your-credit-score
As per an RBI mandate, all credit agencies have to furnish one free report, known as the Free Full Credit Report (FFCR) every year, upon request.
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