AROUND THE WORLD

How to get Free Credit Score in India

STAY CONNECTED!

Don't miss a bit of Credit News
Join the FSI Force

Credit Sudhaar Reviews

credit report

'Close' Not 'Settle' Your Credit Dues

24-Feb-2017 written by : FSI-Team

If you are stuck in a vicious circle of debt and are struggling hard to exit then possibly an option to "settle" dues with the lender would sound enticing. Don’t ever make the mistake of "settling" loans as its harsh effects will reverberate far into the future.

Learn more

free cibil report online

Is a free CIBIL score your gateway to loans?

21-Feb-2017 written by : FSI-Team

From January 1st 2017, any Indian citizen who has accessed credit or is servicing any line of credit currently, is entitled to at least one free CIBIL score and CIBIL report in a year. This is as per diktat mandated by the Reserve Bank of India, the central banking authority. Access to at least one CIBIL score for free is great news for all existing users of credit and can turn out to be a gateway for further loans. Read on to find out more about how you could become more "loan ready" with access to a free CIBIL report at least once annually.

Learn more

Factors impacting your credit score

No, Your Saving Account Does Not Affect Your Credit Score

18-Feb-2017 written by : FSI-Team

By now we all understand the importance of having a good CIBIL score. A CIBIL score encapsulates a borrower's credit past and all credit related activities like which loans or credit cards had the borrower taken in the past, were the payments made on time, how many accounts are currently in use, how many new accounts have been applied for etc.

Learn more

credit report

Way Forward For Credit Bureaus in India

14-Feb-2017 written by : FSI-Team

When you are new to the world of credit, you need trade lines (loans in general term) to demonstrate that you are a responsible buyer and build your credit score. But access to loans and other credit instruments might be an uphill task. So where and how do you begin your journey? Thankfully there is a way out. Here are some tips that will help you build your CIBIL score from scratch.

Learn more

credit report

5 hacks to start building your credit score from scratch

09-Feb-2017 written by : FSI-Team

When you are new to the world of credit, you need trade lines (loans in general term) to demonstrate that you are a responsible buyer and build your credit score. But access to loans and other credit instruments might be an uphill task. So where and how do you begin your journey? Thankfully there is a way out. Here are some tips that will help you build your CIBIL score from scratch.

Learn more

free cibil report online

Your Credit Score Is Related To Your Happiness

07-Feb-2017 written by : FSI-Team

"What is it that one thing which makes you really happy?" asked the interviewer in his soft tone, gently smiling at Gaurav. "Money", silently thought Gaurav. Ofcourse he wouldn’t say it loudly. He did not want to be stared at or be judged as a greedy selfish person, which he was not. But it was the truth. Unspoken though, but many people in the crowd agreed with him.

Learn more

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.