Here’s How to Decipher CIBIL Report

CIBIL score is one of the most crucial factors for people planning to take a loan, especially if they have an unsecured loan in mind. Now, given the probabilities of a person taking a loan is quite high, your chances of applying for a credit report is equally high.

how to read cibil report

Thus, you must know how to read your CIBIL report. If you agree, here’s how to read CIBIL report. This will help you to analyze your credit score.

 

  • Credit Score

    This section contains your credit score. Your credit score is a figure derived from the “Accounts” and “Enquiry” sections in your credit report. It is a 3–digit number that falls between 300 and 900, with scores upwards of 750 considered ideal.

 

  • Personal Information

    As the name suggests, this section contains personal details about you such as name, address, date of birth and gender.

 

  • Account Information

    This is the section which makes a major impact on your credit score. The account information section contains details about all the loans you have taken, whether the loan was taken jointly or individually, and credit cards that you own.

 

  • The Inquiry Section

    The last but not least, the inquiry section contains all the information about the lenders who made inquiries about you. This section contains four columns: the lender’s name, the purpose of inquiry, number and the date on which the inquiry was made. Now, if this section has too many names, your credit score is likely to go very down because this would highlight your credit hungry nature. You must also know how to increase CIBIL score, If your credit score is low or poor.

Additional read: How to Read and Understand your CIBIL Report

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