Take advantage of India’s first consumer credit bureau score and database.

The CIBIL TransUnion Score can help lenders make more reliable, confident decisions based on robust data and objective analytics.


The CIBIL TransUnion Score can also help you reduce the inefficiencies associated with manual subjectivity, errors and limited information. The CIBIL TransUnion Score is the result of collaboration between Credit
Information Bureau (India) Limited (CIBIL) and TransUnion, a trusted global leader in analytic and decision services.

Good and Bad credit Report

CIBIL report is not always bad. It’s an extremely good concept which is now taking shape in India recently. If there are two people A and B and A is a good guy and B is a bad guy, obviously A should get better rates of interest, faster processing, first right to loan. Whereas, guy B should get loan at higher rate of interest (because he is risky) and may be banks can even deny entertaining him at all.

CIBIL gives us the power to build our credit report. So if you become responsible and use your credit effectively and with planning, you can build a good credit history with CIBIL, which will help you in long run. Also note that taking a lot of loans without having the capacity is also a negative thing and that can affect your credit report.

Credit Information Bureaus and 'CIBIL'

All information regarding your track record on servicing your loans or cards or other debt products are updated by the financial institutions to the credit bureaus at regular intervals. The standard interval of update is on a month on month basis.

During such large amount of information flow from the financial institutions to the credit bureaus there is a good possibility of the financial institution wrongly or in accurately updating information.

For example you might missed a couple of payments and your account has become overdue and the financial institution would have updated the same with the credit bureaus but when you regularize the account the financial institution may not have updated this information and still show your account as overdue.

In some other cases you might have pre-closed a particular account but the financial institution has still not updated the same with the credit bureaus.

In a vast number of cases and in our experience where the customer has settled a bad loan, we often find that the settlement would not been updated with the bureau.

What does it mean when my Score is "NA" or "NH"?

A Score of “NA” or “NH” is not a bad thing at all. These mean one of the below:

a) You do not have a credit history or you do not have enough of a credit history to be scored, i.e. you are new to the credit system

b) You do not have any credit activity in the last couple of years

c) You have all add-on credit cards and have no credit exposure


It is important to note that while these Scores are not viewed negatively by a lender, some lenders’ credit policy prevents them from providing loans to an applicant with Scores of “NA” or “NH” (applicants with no credit track record). Hence, you may have better chances applying for a loan elsewhere.

What does it mean when my Score is "0" or "1"?

A Score of “0” or “-1” is not a bad thing at all. These Scores mean 1 of 3 things:

a) You do not have a credit history or you do not have enough of a credit history to be scored, i.e. you are new to the credit system

b) You do have had no credit activity in the last couple of years

c) You have all add-on credit cards and have no credit exposure

It is important to note that while these Scores are not viewed negatively by a lender, some lenders’ credit policy prevents them from providing loans to an applicant with Scores of “0” or “-1” (applicants with no credit track record). Hence, you may have better chances applying for a loan elsewhere.

What do you do when you spot a mistake on your credit report?

Typically, you check your credit report when your loan gets rejected and the loan provider tells you it’s because of some information on your credit report. But there is no need to panic! Mistakes on a credit report can be easily corrected with the CIBIL’s help. All you need to do is:

a) Purchase your CIBIL credit report

b) Identify the erroneous information

c) Provide name, address, date of birth, an Control Number and the nature of the error on the credit bureau’s website. This is known as a ‘Dispute Request’ in credit bureau parlance.

The Control Number is a unique 9-digit number found on the top right hand side of your CIBIL Credit Information Report and is generated every time a credit report is generated. It is very important to provide this number to the bureau, as it helps identify the CIBIL credit report on which you would like to ‘dispute’ information.


          

What is identity theft?

The easiest way to prevent Identity Theft is to regularly monitor your credit history.  Purchase your CIR 3-4 times a year and ensure that your credit history accurately reflects your credit usage and activity.  If you see Enquiries (loan applications) that you have not made, immediately.