How to get Free Credit Score in India


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Applying for free credit reports

What you should know before applying for free credit reports

12-Oct-2018 written by : FSI-Team

A credit report is a report which has the information of an individual's credit information in detail. Credit score, all the credits that have been taken till date, the payments that have been made, accounts that have been closed, pending, ongoing, defaults, late payments, in short, all that has been from the day credit was issued till date including the hard inquiries.

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Hard and soft credit score inquiries

Everything you must know about Hard and soft credit score inquiries

10-Oct-2018 written by : FSI-Team

With greater awareness and understanding kicking in upon the credit bureau and credit profile, the habitants of metro cities must have heard the term inquiry. Further some may even have heard the two variants called hard inquiry and soft inquiry. Multiple questions like what are these inquiries, what is their importance, what role do these play in one’s credit profile keep coming up. Read on to address all the queries on these inquiries.

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3 Tips to Get Your Personal Loan Approved

A High Credit Score is a reflection of smart financial practices

05-Oct-2018 written by : FSI-Team

Pankaj Parmar, a midlevel manager with a MNC applied for a personal loan. He got a shock when the loan application was declined. His new application with another bank also met the same fate. This got him to find out the reasons since he had the repayment capacity. He approached Naim Khan, his friend who works with a leading bank to get some help on this.

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Good Credit History

How to build a good credit history without any borrowing

03-Oct-2018 written by : FSI-Team

What is a credit history? Any borrowing that is done by a person, has its records stored. When we say borrowing, it is considered as the borrowing that is done by banks or NBFC (Non-Banking Financial Institutions). The credits that are taken in form of loans or credit cards are considered the borrowings and are reflected in credit reports.

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Personal Loan Approved

How Credit Scores are Important to Business Owners

29-Sep-2018 written by : FSI-Team

The Indian banking system is expanding as more and more people are becoming a part of it. This in turn means more people are seeking loans to fulfill their dreams and aspirations; the lenders unlike before now rely on more objective ways of deciding whether to sanction the loan to an applicant or not. Thus the credit rating of the applicant is crucial whenever he/she applies for a loan. This is true for individuals whenever they want to apply for a loan but what about business owners?

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Credit Score Matter?

When does your spouse's credit score matter?

26-Sep-2018 written by : FSI-Team

A big part of getting married is making financial decisions together. Once you get married it is prudent to realign your financial goals in a manner to meet your joint financial ambitions. For instance, you may be planning to take a joint home loan to build your nest together. However, dreams such as these may get derailed if your spouse’s credit score is not up to the mark. Read on, to find out more.

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Credit Score Goals

How to Plan Your Credit Score Goals

22-Sep-2018 written by : FSI-Team

Having a high credit score is a must if you want easy loans and low interest rates. However, if yours isn’t up to the mark, then you can take various steps to give it a boost. In this blog, you will learn how to create a 12-month comprehensive plan for increasing your credit score. We will divide the plan in four parts:

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Know Which Bills Impact Your Credit Score

Know Which Bills Impact Your Credit Score

19-Sep-2018 written by : FSI-Team

You tend to make a lot of payments every month like power bill, phone bill, Loan EMIs, credit card payments, etc. Have you even given it a thought that, are any of these transactions getting registered towards my credit report?

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About Us

The 3 digit number on a person's credit report called the credit score can have a 6 digit impact on their financial lives.
Freescoreindia provides people with the tools required to understand their credit profiles and unlock the power of their credit score.

Q- What is the difference between Credit Score and CIBIL Score?

By the virtue of being the first credit bureau in India, the credit scores colloquially are called CIBIL Score. The score given by any credit bureau is called credit score. There are four bureaus in India viz. Credit Information Bureau India Ltd (CIBIL), Equifax, Experian and Crif Highmark and all of them give out credit scores.

Q- What is a good Credit/CIBIL rating?

The bureaus in India rate an individual on a scale of 300 to 900. A credit score of 750 and above is deemed to be good and individuals in this score band will have faster access to funding. But a person with low credit score still may be able to get loans since the underwriting is based on various factors.

Q- Why is it important to know Credit/CIBIL Score?

Your credit score shall not only impact the approval of loan that you apply, but also has the potential to influence the rate of interest beign charged. A lower rate of interest will result into huge savings. Therefore, it is highly important to be aware of the credit score.

Q- What should one look into his Credit/ CIBIL Report?

Your credit report has primarily three sections. Personal information, details on all the loans and credit facilities that you would have taken and enquiries from lenders. Each of this broad information is critical to your access to credit and hence need to be looked at with care.

Q- What factors are considered for Credit/CIBIL Score calculation?

The credit bureaus assign credit score to an individual based on complex algorithms. Broadly, there are five factors that impact your credit score. They are:

Q- Why should one initiate credit/CIBIL score check?

One of the major reasons why one should check the credit reports regularly is a high error rate. As per a unique survey, one of four reports has errors. These errors can lead to severely impacting the credit score and diminishing the chances of access to loans at the time of need. To know more about the reasons why one should check score regularly read more from our blogs.

Q- Why we provide free credit score?

Unlike developed economies, where one has access to free credit score once in a year, people have to pay for the same in India. We at freescoreindia have resolved to extend free credit score for two reasons, first to bridge the disparity on availablity of free credit score and second to educate and spread awareness on this important aspect of every one’s financial life.

Q- Will an enquiry impact my Credit/ CIBIL Score?

You can withdraw your credit report from any of the credit bureaus as many times as possible. This will not have any bearing on your credit score. However, the enquiries made by lenders can impact the credit score.