This post is written by Shiv Kukreja, who is a Certified Financial Planner and runs a financial planning firm, Ojas Capital in Delhi/NCR. He can be reached at skukreja@investitude.co.in
This is the 3rd post in a series of posts covering CIBIL Credit Information Report and CIBIL Credit Score. You can access the earlier two posts here:
CIBIL TransUnion credit score – role in a loan application process
CIBIL Credit Information Report
By now, you must have become well versed with the contents of a Credit Information Report and the significance of a credit score. Now it is time to know how you can access your report and know what your credit score is.
You can access your CIBIL TransUnion Score along with the full Credit Information Report for a nominal fee of Rs. 470. You are just required to fill a request form with some basic details like Name, Address, Date of Birth, Gender, Contact Details etc. and keep the self-attested copies of your Identity Proof and Address Proof ready.
You can see the application here.
Online payments can be made either through Net Banking platform of a bank or through a debit card/credit card/cash card. The net banking facility is available with 33 banks as of now. You will get a unique CIBIL registration ID and transaction ID as a confirmation on successful completion of your online payment. After the payment is made, you need to answer 3-5 questions about any of your loans or credit cards to authenticate your application. You’ll then be required to provide the soft copies of your identity proof and address proof.
If your application gets authenticated, you’ll receive your credit score and CIR in your e-mail in about 2-4 days. However, if the authentication fails, you need to take a printout of the receipt for online payment and mail it to the below mentioned CIBIL address along with your proofs.
Consumer Relations: Credit Information Bureau (India) Limited,
Hoechst House, 6th Floor, 193 Backbay Reclamation,
Nariman Point, Mumbai 400 021, India.
Tel.: 022 61404300, email: info@cibil.com
Offline Application
If you decide against going online, then you will have to take a printout of the application form, duly fill it and get a Demand Draft (DD) made worth Rs. 470. Again attach the copies of your identity and address proofs along and send it to the above mentioned address.
Also, if you wish to purchase only your Credit Information Report, then you can do so by having a DD of just Rs. 154 and follow the above mentioned process. But, in that case, the process would be offline only because there is no provision to get it online without asking for your credit score.
You also need to sign the form in order to confirm your requests. Note that the address proof (except passport) – bank statement, telephone bill, electricity bill or credit card statement should not be more than 3 months old and should be in your name matching with your name in your loan/credit card account or on your PAN card (if you do not have any loan or credit card).
Like many of us undergo physical health check-ups, I think one should get his or her credit score checked at least once a year. It will keep you aware of your credit health and make you take necessary steps to correct it whenever required.
So what are you waiting for now? Just visit the CIBIL website and get your score checked. I’m sure there will be many surprises in store for many of us. Just share your score and experiences here with us so that we have a platform to understand these things in more detail.
Dear Sir,
I have applied for Loan my loan rejected due to cibil matter,
But i like to know the what is the reason to take further steps to clear up the issue.
PLEASE DO THE FAVOUR TO ME SO THAT I CAN PROCEED ACCORDINGLY BECAUSE OF THIS I AM NOT IN A POSITION TO APPLY ANY KIND OF LOAN, WHICH DISTURB MY HEALTH AND MENTALLY.
YOUR KIND HELP IN THIS REGARD WILL BE HIGHLY APPRECIABLE.
mobil n0.9303191132,09074620445
8.
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Dear Mr. Solanki,
Your credit score could be low and there could be various factors that could have impacted your score negatively. High outstanding balances, late payments, settlements, write – offs, high number of enquiries are a few of such factors.
We would be able to suggest and facilitate you with the right steps to rebuild your credit score only after the facts appearing on your credit report are analysed.
Our experts will analyse your credit bureau report and give you comprehensive yet simplified understanding of your credit report. Our service CreditSolutions+ wherein our experts handhold, guide and coordinate on your behalf with lending institutions and/or the credit bureau to resolve any errors appearing on your credit report and ensure a clean credit report which will help you in boosting you credit score.
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Regards,
Credexpert
http://www.credexpert.in
Dear Viewers,
We have released a guide on “Credit, Credit Bureaus and all that..”
The main purpose of this guide is to make all our viewers understand the basics as well as the nuances of credit bureau reports & scores.
Our proactive initiative to facilitate our viewers on the topics related to credit, credit bureau, implications of credit bureau decisions, and much more are covered in this guide.
Download your FREE credit guide copy now..!!
http://www.credexpert.in/eguide/
Warms Regards,
Credexpert
http://www.credexpert.in
My loan was rejected. Credit Sudhaar was my choice. Initially they were slow. But their counsellors were able to handle all my queries. I will give Credit Sudhaar a positive review
Hello,
Thanks for this great post. It is really enlightening. I applied for my CIBIL report as soon as I read this post. I haven’t received it yet.
1) I am a guarantor for a home loan taken by another individual. Will my CIBIL report get negatively affected by all liabilities of that individual or only for home loan for which I am the guarantor?
2) I believe information maintained by CIBIL is misused by Credit Card companies. I am getting threatening calls from a particular Credit Card loan shark for the non-payment of a credit card bill by the other individual for whose home loan I am a guarantor. How do the Credit Card companies get financial information from CIBIL for data which they dont control?
Is my guess correct?
Dear Amit,
To address your queries:
1) If you are a guarantor for a loan, the details of that particular account will appear on your credit report and depending on the behaviour on that account, it will have a positive or negative impact on your score. The other credit facilities of the individual will not be reflected on your report and hence will not affect your score.
2) The credit card collector should not only have your information, but additionally should not be chasing you down for a payment which you have not guaranteed. If you know the credit card issuer whose collector is following up with you, write to them about this and say that you are not liable for the repayment and the credit card collectors should stop harassing you. If they do not respond, you can approach the banking ombudsman.
Regards,
Credexpert
http://www.credexpert.co.in
Dear Sir/Ma’m,
I took a loan from city finance in the year of 2007. In Jan 2010 when the repayment of loan was to just to be completed their Call Centre executive requested that I should go for Top-Up loan of Rs 300000/- which was sanctioned and deposited in my account.
I continuously paid the EMIs for 20 months , I lost my job and started facing problems in paying EMI. I approached City Finance to convince and to make the EMI amount Low by increasing the Number of EMI (Re-finance) the balance amount, I was given assurance but not guarantee for that.
I than applied for exemption from paying the EMI for next six months period, which was confirmed from City Finance but on the other hand they put my name in CIBIL.
Now I want to know , once the Bank has confirmed about request and even permitted me for exemption for 6 months(On Phone) than how they can send my name in CIBIL.
After this when I resumed paying EMI one of their executive stopped me to do so, and offered me a settlement which I agreed due to Poor Knowledge of Loans. However, I never requested for any settlement but they sent me written confirmation. I paid the settled amount and the account was closed.
But even after closing my loan account also my name is not deleted from CIBIL. Now I seek your help as How to remove name from CIBIL as the Education Loan for my son’s study was rejected due to this.
Dear Mr. Kumar,
CIBIL is a credit information bureau, it is the repository of all the credit data submitted by the lending institutions at a regular period. All lending institutions have to be members of atleast one bureau.
The Borrowers data consists of:
1. Demographics – name, address, telephone numbers, Identity proof etc.
2. Employment details – This section reflects the last employment details at the time of applying the recent credit facility, details such as occupation, income, income indicator etc.
3. Account details – The type of account, date opened and closed, the status (written off, settled etc.), the amount sanctioned/credit limit, the account payment history etc.
The payment history gives the payment details over the last 36 months. Any late payments (DPDs) are reflected here.
4. Enquiries – This section shows the number of applications you have made to credit institutions. Thus, anyone who has availed a credit facility, their data is updated into the records of the credit bureau.
Please understand that your name appearing in CIBIL is not necessarily a bad thing. All these details play a role is assessing your score, based on which your loan application may be approved or rejected. A clean credit history with no late payments will lead to a good score and vice versa.
In your case, as I understand, the account was first restructured. Then you were unable to pay your EMIs for a certain period and hence your report will show late payments. After that, the account was settled and closed.
All the above details appear on your credit report and hence will have a negative impact on your score. Also note that even if the bank has given the confirmation for exemption, the details will be reported as is.
Please remember that all communications with banks should always be done in writing so as to have proof of the same.
If you really need to understand your credit report, I suggest you apply for your CIBIL report from their website. This will give you an idea of what has affected your credit score and how you can improve it. If you still don’t understand the credit report you could approach an expert for guidance.
You can apply for your report and score on this link: https://www.cibil.com/online/credit-score-check.do
Regards,
Credexpert
http://www.credexpert.co.in
I had no idea my credit was bad. The guys at Credit Sudhaar analysed my report. The process took some time but my credit was restored, enhanced and protected. I have no reason for complaints.
Dear Sir,
I have applied for Loan and Credit card, both are rejected due to cibil matter,
But i like to know the what is the reason to take further steps to clear up the issue.
1. Loan taken from which bank: under which A/c. no:
2. Loan taken on which date: month:Year:
3. Loan taken for what amount.
4. How much loan cleared.
5. In which name i have issued cheques to clean my loan.
6. what documents i have submitted to take loan.
7. why the bankers not sent me any notice/letter/ for my pending issue if there is pending issue.
8. I am staying since my child hood in same address which was given in loan form.
9. If cheque return/bounce then why they din’t turned up with this issue.
PLEASE DO THE FAVOUR TO ME SO THAT I CAN PROCEED ACCORDINGLY BECAUSE OF THIS I AM NOT IN A POSITION TO APPLY ANY KIND OF LOAN, WHICH DISTURB MY HEALTH AND MENTALLY.
YOUR KIND HELP IN THIS REGARD WILL BE HIGHLY APPRECIABLE.
8.
Dear Mr. Khan
If your credit applications have been rejected due to a CIBIL score, you need to apply for a credit report from their website. Once you receive your report, check all the details on your report. See if all the details belong to you and are accurate.
The following details are shown on your credit report:
1. Demographics – Your name, address, telephone numbers, Identity proof etc.
2. Employment details – This section reflects details such as occupation, income, income indicator etc.
3. Account details – The type of account, date opened and closed, the status (written off, settled etc.), the amount sanctioned/credit limit, the account payment history etc.
The payment history gives the payment details over the last 36 months. Any late payments are reflected here.
4. Enquiries – This section shows the number of applications you have made to credit institutions.
The above details on your report have an affect on your credit score. You need to make sure that the above details belong to you and are accurate.
Regards,
Credexpert
http://www.credexpert.co.in
Thank you for looking an ad Regarding Cibil issues If your looking for the service like updating improving Cibil score and helping your loans, credit cards settle or close in Cibil report we will help you to update and clear from Cibil in priority basis where there would not be any problem in future at the time you apply for any type of loan…WE PROVIDE SERVICE ALL OVER INDIA :::::::::::::? Syed 8095355329
Sir ,
Aap ka blog pe de hu jankari bahut fayedemand hai.
mera CIBIL score 829 hai . kya mujhe vehicle loan mel sakta hai.
Dear Anoop,
A CIBIL score of 829 is good. There is a high probability of you getting a vehicle loan.
However, do keep in mind that all banks have their own internal policies for sanctioning a loan. They will look at other parameters other than your CIBIL score.
Regards,
Credexpert.
http://www.credexpert.co.in
For an inactive or closed because of settlement loan or credit card, the DPD string stays constant…..can we request the bank or cibil to keep shifting DPD string of a closed or inactive loan every month…
Dear Vivek,
Once a loan/credit card is repaid and closed, there is no further repayment history (i.e. DPDs). Due to this the DPD against a closed account would reflect on your credit report and cannot be removed.
The negative impact of these DPDs would reduce over a period of time as they would be not as recent as they are today.
Regards,
Credexpert
http://www.credexpert.co.in
I had a Credit Card from March 2011 and from Nov 2011 Due to financial problem I was not able to pay my credit card bill… My status is mentioned as “Write Off” (As the bank emailed me saying this) can you tell me what this status means and if I pay the whole bill with interest in one shot, then can I have a good credit score within coming 1-2 years… My current Salary is 75K/month, so do this will help to get a good CIBIL Score in coming 1-2 years…
Dear Mr. Choudhary,
Write Off means that since you did not repay the borrowed money the lending institution has considered this loan/credit card account as a Non performing loan and as required by standard practices, has written off the amount in their books. However, this does not mean that they do not expect to recover the amount but will continue to attempt to recover this loan.
This remark has a negative impact on the score and is viewed negatively by lending institutions. If you repay the complete outstanding amount . it could have a positive impact on your score. However, the late payments against this account would reflect on your credit report even after the closure of this account.
Improving a credit score is a slow and gradual process and you would have to demonstrate positive credit behaviour over time for the same. Your salary would not help to improve your score unless the same has been used to make timely repayments for all the credit facilities you have availed.
Regards,
Credexpert
http://www.credexpert.co.in
sir, my cibil score is 772,can i eligible to get a personal loan ;
Hi Sudhir,
CIBIL score is not the only criteria for a lender to decide if they would be able to extend you a personal loan. Though 772 is a good score, the lender will check your complete profile including your income and loan requirement, before taking a final call.
Dear Sir,
I have availed a personal loan(PL) of Rs. 4,00,000/- for 3 years. I have 3 credit card also . I regularly pay the bills in due time. I want to know that if I foreclosure my PL before 3 years by paying lum-sum amount at a time, whether it will affect my credit score in a -ve way or +way.
Please guide me in this case. Thanks in advance….
Dear Mr. Imtiaz
Prepaying your personal loan will have a positive affect but to what extent will depend on the other factors on your credit report.
This might show a good picture to the lenders if you are planning to apply for a new loan, in terms of lower existing obligations. However, a longer credit history with regular payments also contributes to your credit score. So it is advisable to continue paying as per the current terms unless it is necessary to foreclose.
While prepaying the loan, do check the prepayment charges to be paid, if any. These charges may vary with the bank.
Regards,
Credexpert.
http://www.credexpert.co.in
I want to know
My credit score
Dear Mr. Lahenkar,
To know your credit score, you can apply for your credit report from any of the three bureaus – CIBIL, Equifax or Experian.
To apply for your CIBIL report and score, you may follow this link,
https://www.cibil.com/online/credit-score-check.do, and complete the application form and submit it online with the payment.
For Equifax, http://www.equifax.co.in/consumer/forms/credit_report/en_in
And for Experian, http://www.experian.in/consumer/index.html
Regards,
Credexpert.
http://www.credexpert.co.in
Hi
Recently, I have applied credit card request but it was declined stating that Low cibil score, however I got automobile loan from HDFC in the year of 2007 also I sucessfully paid all the EMI’s but this details are not in my CIBIL report also this information I got from Bank. Is there any possible to update my old automobile loan details in my CIBIL report? If this details is added surely I will get a good score. Please kindly advice
Dear Mr. Krishna,
Yes, you can get your automobile loan account details updated on your credit report. You can either contact the lending institution and request them to update the records or you can raise a dispute with CIBIL for the same.
The CIBIL dispute can be raised at the following address: http://www.cibil.com/consumer-dispute-resolution
For this purpose, you will have to apply for your credit report.
Your CIBIL score is an outcome of various factors such as number of accounts, type of accounts – secured or unsecured, your payment history, number of enquiries etc. Once you get your credit report, we suggest you check if all the details in your report are accurate.
Regards,
Credexpert.
http://www.credexpert.co.in
Hi
Recently, I have applied credit card request but it was declined stating that Low cibil score, however I got automobile loan from HDFC in the year of 2007 also I sucessfully paid all the EMI’s but this details are not in my CIBIL report also this details I got from Bank. Is there any possible to update this detail in my CIBIL report? If this details is added surely I will get a good score. Please kindly advice
If there is any issue with your CIBIL report like clearance or updation if the CIBIL score is less than 750 we will improve where there would not be any problem in future to apply, any Loans, & Credit cards, please do call me or leave a MSG Syed 8095355329 ALL over India
If there is any issue with your CIBIL report like clearance or updation if the CIBIL score is less than 750 we will improve where there would not be any problem in future to apply, any Loans, & Credit cards, please do call me or leave a MSG Syed 8095355329 ALL over India
Dear Shiv,
I was unable to pay my cc bill for 3 months. However, i dont have any more outstanding dues on my cc right now. My cc expires this month. Ideally, the bank replaces the card for their customers in the month when it is going to expire. However, I have been denied replacement due to unsatisfactory CIBIL rating.
My question is; will my CIBIL rating improve if I let this card expire (with all dues cleared) and stop using cc for some time?
Look forward to hearing from you
Thanks
Dear Saurabh,
It would have been better if the same bank had reissued you the card and you could have improved your credit history by paying bills on time. I would say try to get a card issued from a new lender and keep paying for this card regularly without a default. This might result in your credit score getting improved.
Hi Shiv,
Many thanks for your assistance and prompt response. I’ll take your advice and try applying for a cc with a new lender.
I forgot to mention that in addition to my personal cc, I also have a corporate credit card issued to me by the company I work for. There have been no payment default for the dues on this card. I am sure this will contribute towards improving my CIBIL rating, since the corporate cc is in my name. Please correct me if I am wrong.
Regards,
Saurabh
Hi Saurabh,
You are right, your corporate credit card, with no default till date, will definitely help you improve your score.
Hi, I had applied for personal loan at SBI. Bank said that my Cibil report shows that two credit cards were settled under one time settlement scheme. I do not owe any dues but still the bank had rejected my application pl. guide me.
Hi Vinodkumar,
You should buy your CIBIL credit report and check yourself which loan accounts are shown as settled in the report. If those accounts do not belong to you, then you should raise Dispute Resolution request with CIBIL. If the info is correct, then it is the discretion of the banks whether they want to extend their loan facilities to you or not. If one bank has refused to lend you a loan, you should approach other lenders. Also, you should try to improve your credit score by maintaining a clean credit history.
Hi, I had applied for personal loan at SBH. Bank said that my Cibil report shows that two credit cards were settled under one time settlement scheme. I do not owe any dues but still the bank had rejected my application pl. guide me.
unlike in the past,Banks/NBFC’s give lots of emphasis to CIBIL score when they evaluate a credit proposal.
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