Mastering Financial Wellness: The Importance of Regular CIBIL Score Checks

Credit users are often reminded of the importance of maintaining an excellent CIBIL score. An excellent CIBIL score not only provides credit users with easy access to credit but also gives borrowers the upper hand in negotiations concerning loan terms and conditions. More importantly, these days, the role of the CIBIL score is not only limited to helping individuals avail of credit easily but a good CIBIL score can also make it possible to get feasible insurance premiums and the best of rental accommodations. Further, these days, many companies extend the final offer letter to a potential employee only after making sure that the candidate has a CIBIL score in at least good, if not excellent range. 

Individuals with a good CIBIL score are seen as reliable people who can be trusted not just with the repayment of money but in general as well. Needless to say, the CIBIL score is the most significant metric that financial institutions and lenders track. All credit users must therefore perform CIBIL score checks from time to time. Why?

Well, the CIBIL score is not absolute. It is possible to improve one’s CIBIL score from fair to good to excellent. However, an individual’s CIBIL score cannot change overnight. Improving one’s CIBIL score takes time. For instance, individuals with a poor score must remain prepared to spend anywhere from 18 to 24 months to improve their credit rating. On the other hand, individuals with average credit scores can improve their credit scores within 8 to 12 months by practising rigorous financial discipline. Frequent CIBIL score checks allow credit users to take corrective measures in time and make sure their credit rating is not so low that access to credit becomes difficult. 

The ideal CIBIL score for home loans in India is 750. Individuals with a CIBIL score below 750 often find their loan application getting rejected. Applicants are thus advised to proceed with their loan application only if their CIBIL score is at least 750. So, how does one check their CIBIL score? How to see the CIBIL Score? Read on to know. 

CIBIL Score Check: Follow these Steps to Check Your CIBIL Score

  1. Go to TransUnion CIBIL’s official website and select the option ‘Get Free CIBIL Score & Report’.
  2. After you select this option, TransUnion CIBIL will ask you to create your account by entering personal information, such as name, email address, pin code, mobile number, etc. Please note that you will be asked to add an ID proof. You can submit your Aadhar, PAN, passport, etc. 
  3. After you have entered all the information, select the option ‘Accept and Continue.’
  4. You will now get an OTP on your phone. Enter this OTP and select the option ‘Continue’.
  5. Once you have created your account, log in and go to the dashboard. You will be redirected to
  6. After this, click on Member Login and once you do that, you will be able to see your CIBIL score. 

If your credit score is above 750, you need not worry. However, if the CIBIL is not above 750, you will have to take corrective measures to improve it. Start paying all your credit card bills before the due date. Never miss an EMI deadline. Reduce your credit utilization ratio by paying off the debt you have on your credit card. If you have only one type of loan, i.e. secured or unsecured, add another type of loan to establish your ability to handle all types of debt. Stop applying for new loans and credit cards for at least a few months. Doing these simple things will help you push your CIBIL score into the good CIBIL score range within a few months. 

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