08-Feb-2019 written by : FSI-Team
Let’s face it, there is nothing wrong with sharing interesting things about your personal life on social media. When you travel to a beautiful location with friends or family, then you want to share snapshots on your Instagram and Facebook handle. Similarly, when you get a promotion at work or a new job in a bigger company, then you want to share this news on social media as well. However, is sharing personal information with others always a good idea? As you would have guessed it, the correct answer is “not so much”.
There are certain things about your life that you can share freely with others online. However, your financial information isn’t included in them. As the people are becoming smarter and learning about the various kinds of online scams and frauds, they know better than to share details like bank account information, credit card details, etc. with third-party websites and bogus emails that use phishing techniques. However, something like a credit report may seem harmless enough to be shared online, but that’s where you are wrong.
Let’s consider the example of Kavita. She was informed by her friend about the importance of credit score monitoring and checking if your credit report says that you’re on a loan defaulter list. So, she decided to check her cibil score online and found a website that was providing the information for free. So, she shared her basic details and the website calculated her score. It then encouraged her to share it with her friends on Facebook. Thinking that it might be a good idea to tell others about the service and also to share her achievement, she decided to go for it.
When Kavita shared her free cibil score with others that were in her friends' list, she didn’t know what she was getting into. Within a few hours, she started getting messages from individuals, consultancy companies, loan providers, etc. Since she had made the mistake of sharing her contact number too, she even received two calls on the same day from individuals who claimed that they can help her improve her credit score or remove her name from loan defaulter list easily if needed. She blocked these numbers, but the damage was already done. For many days after that, she kept on getting spam emails and Facebook messages.
What Kavita went through is only one side of the massive risk that sharing your credit score is. This is because your credit score alone can tell a lot about yourself. If it’s not up to the mark, then it can attract fraudsters who may try to impersonate a credit rating agency and make you share your other financial details. You may also be approached by fake lenders who may try to offer you loans or credit cards on the basis of the credit score that you just shared.
There are two main ways you can get your credit information. One is to go to the official websites of reputed credit rating agencies like Cibil or High Mark, and the other way is to use a website that offers free cibil score. In fact, you will find numerous websites that claim to provide you your exact cibil score gratis.
If you want to know your correct cibil score, then you must only get it from the official website of cibil. The websites that claim free services are usually either not credible at all or they may also aim to scam the users. These are also the websites that may give you the option to share your cibil score. Credible websites like cibil will not disclose your financial information to others, and neither it will give you features like Facebook sharing that may compromise your security.
Your credit report is one of the most important documents that you will need in your life whenever finance is involved. There is no need for sharing it with others unless they are family or a financial institution. So, be careful when you get your score online and always make sure that you get it from official websites only.