Interested in applying for a credit card or loan? If yes, all you need to know about the Experian credit score. That’s right! Did you know, the moment you send an application to the lender either for a loan or credit card, the first thing that most of the lender is to check free experian credit score.
Yes, checking the score of an applicant is surely one such practice that most of the lenders do just to have a quick access to the profile of an applicant. When it comes to credit/cibil score, it would not be wrong to say that it is nothing but a creditworthiness of an applicant, showcasing the credit history along with repayment record.
Moreover, by looking at the cibil of an applicant, it becomes easy for the lenders to decide whether to give him/her the loan/credit card or not. Thus, you can say that it is a gateway towards your successful loan/credit card journey. Now you must be wondering why so, isn’t it? Why is cibil so important and how does it play a crucial role in your overall loan/credit card journey? But before answering these questions, let’s just give you a sneak peek of how you can check your credit score online. Yes, you don’t have to research online or need a help of an expert to know your actual score.
These days, with the presence of many reliable sites, it is absolutely easy and a hassle-free task to know your exact score anytime. So, without wasting any time further, let’s just know the steps of the same below…
With the help of many trustworthy sites, you can anytime from anywhere check your score in just a few seconds. Yes, the process is quite simple and easy as there are few steps that you need to follow to enjoy a hassle-free experience. Moreover, the process includes the below-mentioned steps:
Step 1: Personal Details Form
Step 2: OTP Verification
Step 3: User Details Form
Step 4: Q&A Form
These are the four simple steps, you need to follow in order to check your score online. The process is quite easy and it takes just a few seconds to complete the same and finally to know your score.
Let’s just understand this process in detail in the article below…
Each of these 4 steps requires you to fill all the necessary details about your personal as well as professional life. Until and unless you won’t complete these steps, your report won’t be generated.
1- Mention your Full Name, Mobile Number, and Email ID and click on the ‘Submit’ button.
2- An OTP is sent to the registered mobile number
3- Submit the OTP and click on ‘Verify & Continue’
4- Select your Date of Birth and Gender
5- Provide your Permanent Address including the state, city, pin code
6- Enter your PAN Number and submit
However, one thing that needs to be mentioned here is the fact that apart from following the steps mentioned above, there is a small Q&A round which you have to go through. Furthermore, your score is generated on the basis of the inputs provided by you. Soon after the completion of the process, a score will be generated that usually ranges between 300-900.
However, if we talk about credit report, it gets generated after taking into account following factors:
1- How many credit accounts you have
2- How much you owe in total in credit
3- Whether you have missed any payment
4- How many credit applications you have made in last 6 months
If we talk about, how this score is calculated, it is done on the basis of payment history that includes few factors such as timely credit card bill payment, credit limit usage, EMI deductions and so on. Moreover, if you pay your bills and EMIs on a regular basis, try to avoid using more than 50% of your credit limit and stay away from the overspending as if you follow these practices, your score will remain in a good.
So, hope this article on check free Experian credit score was worth reading for you!