How private is my credit score?

17-Jan-2018 written by : FSI-Team

How private is my credit score?

In today's digital world we are all over the Internet via social media channels like Facebook, Twitter, Instagram etc. We share our thoughts, what we are doing, where are we going to our friends via social media, but then there are some things which we like to keep private from everybody. Like if someone posts he or she has got a new job, do they post their annual CTC as well? The same way if someone shares, they are blessed with a baby; do they share their medical expenses? But are they really private?

How private are your financial statements? How can I do a cibil score calculation? How private is your credit score? Who all have access to your credit score? If yes what can they do with it? Can they influence your chances of getting a loan? Is your score protected?

The answer to this is yes… and no.

There are a limited number of people or organizations who can view your credit report. So let's take a look on who all can access your credit report,

Credit bureaus

There are a lot of credit bureaus in India, and every bureau has its own score and has different criteria's to calculate it. CIBIL is one of the most trusted credit bureaus in India and majority of the lenders consider cibil score for financial background verification. Credit bureaus have access to your credit score and they share the credit report with different entities whenever needed.

Banks and lenders

The banks and lenders are the obvious people who will have access to your cibil score. Whenever there is an application for a loan, the lender reviews your cibil score and checks the credit worthiness and will decide if you are eligible to get a loan. What many people don't know is that, the bank can also get the credit report periodically to look at how your account is performing so that they can offer you a top-up loan or something on your existing credit line.

Insurance companies

Insurance companies have access to your score to see if you are making the existing insurance premium payments on time. Considering that the insurance company may pitch you another beneficial product with a low premium rate, provided you have made all your payments on time. Remember if the credit score is low, you may end up paying higher premium than the market standards.

Cellphone companies

If you are trying to get a postpaid connection for yourself, understand that your credit report will be checked. The telephone operating companies have access to your credit score to check if you are making all your bill payments on time. If not you will be denied a postpaid connection.


Many landlords consider your credit score before renting you. They can either opt for a cibil score or a cibil report. Just make sure, if you wind up renting with them or find new option the report is being securely stored or even destroyed. You may get robbed by identity theft.

Tele calling agencies

Not all of them but some have access to your credit score. Many banks and non-banking financial companies outsource their call centre and tele sales team, who then have access to a customer's certain details like existing loans, loan tenure, credit score, etc. so that they can pitch a product like a home loan, personal loan, etc. to the customer. Your cibil score is considered when a product is being pitched to you, well that depends on you if you would like to avail the product.

Collection agencies

The collection agencies are employed by the lenders to recover bad debts. Certain information is shared with them of the customer with bad debts and a credit report is one of them. The collection agency then evaluates your cibil score and prioritizes collection accounts.

These are the most common entities who can view your credit report. You should check your report in regular intervals on who reviewed your report. If someone accesses your data, the inquiry will be listed on your report. This way you can understand your credit worthiness.



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