Check CIBIL Score by PAN Card

At most online platforms, you can check CIBIL score with PAN card. However, MyMoneyMantra.com provides a free Experian credit score and report along with monthly updates without entering a PAN number.

Follow the steps mentioned below to get your free CIBIL score:

• Visit MyMoneyMantra.com
• Click on the Credit Score tab.
• Enter your name, phone number, and email address.
• Accept terms & conditions, and click on “Let’s Go”.
• Enter the OTP received on your mobile number.
• You will receive your credit score on your email in a PDF format.
• To open your report, you will need to enter the password, which is the first 4 letters of your first name (in upper case) followed by the last four digits of your mobile number.
• On entering the password, you will be able to see and download your detailed credit report.
• The report consists of your updated Experian score, personal details, PAN number, personal loan and credit card account details.

Also Read : Equifax Credit Score

Having a valid PAN Card is essential to check free credit score. Your credit score is the most important thing that every lender scrutinizes when you apply for a loan or even a credit card. It shows how creditworthy a borrower is and if they are capable of repaying the debt on time. An excellent credit score increases your chances of getting a loan application approved. You can easily do a CIBIL score check free online by PAN number with monthly updates.

Also Read: How To Calculate CIBIL Score

Also Read: CIBIL Full Form

Even if you don’t have a PAN card CIBIL score can be checked for free through MyMoneyMantra, however most online platforms need it. Banks and other financial institutions record your major financial transactions against your PAN card. If you do not have a PAN card, the probability that you have not availed any credit is high. In such cases, any credit bureau is unable to generate your credit score.

• Have a regular CIBIL score check with PAN card.
• If you have a poor CIBIL score, you can improve it with the following tips:
• Pay your credit card bills and loan EMIs on time.
• If you are a frequent user, opt for a higher credit limit.
• Don’t use more than 30% of your approved credit limit.
• Don’t revolve your credit or pay less than due amount.
• Check your eligibility for loans and credit cards, and apply with the lenders where your chances of approval are higher.
• Check your check CIBIL score with PAN card regularly for any discrepancy or error.
• Have a mix of secured and unsecured loan types for different tenures.
• Keep a significant gap between two credit card applications.

Additional Reading: How to Increase CIBIL Score?

Additional Reading: CIBIL Dispute

CIBIL Score Range varies between 300 and 900. The closer your score to 900 is, the more creditworthy you will be considered by lenders. 900 is the highest CIBIL score, denoting maximum creditworthiness. A CIBIL score of 750 or above is considered ideal for all types of loans and credit cards. Having a score of below 685 can negatively impact your loan or credit card application. It may even lead to rejection by lenders. 

Below is the CIBIL score range table:

Please note that if you do not have ny credit history, your credit score will be -1 and if you have a credit history of 6 months or less, you score will be 0. 

Below are some key factors that may affect your CIBIL score:

• Irresponsible Repayment Behaviour: It is important to pay your loan EMIs and credit card bills on time every month. As per a CIBIL analysis, a 30-day delinquency can decrease your score by 100 points. If you have multiple credits, set up reminders and alerts to avoid missing or delaying payments
• Multiple Credit Applications: Applying for multiple loans or credit cards in a short span may want lenders to check your creditworthiness by pulling out your credit report. This is called a hard inquiry, which can affect your score negatively by making you look credit hungry.
• High Credit Utilisation Ratio: You must always keep an eye on your credit utilisation ratio (CUR). CUR is the amount of credit you used in proportion to the available credit limit. Ideally, your CUR should not exceed 30% of your credit limit. For instance, if your credit card limit is Rs. 2 Lakhs, you should spend around Rs. 60,000. Using over 50% of your credit limit can have a negative impact on your score and will also send a red flag to lenders.
• Minimum Amount Due Payment: A minimum amount due (MAD) is a small part of the outstanding principal displayed every month on your card statement. Constantly paying only the minimum amount due can lead you to fall into a debt trap easily as the interest keeps compounding on your outstanding balance. 
• Outstanding Debt: Make sure you always clear off your outstanding debts. Having unpaid dues reflects on your credit report and takes a toll on your score too. 
• Errors in Your CIBIL Report: If there is any error in your CIBIL report, it can hamper your score. So, if you notice any discrepancies in your credit report, get them rectified immediately.
• Credit Mix: Maintaining a good balance of secured (home loans, car loans, etc.) and unsecured (credit card, personal loan, etc.) credits is important. Having a high number of only one type of credit can affect your score negatively.
• Length of the Credit History: Credit history means the total number of years from opening the first credit account. Having a long credit history helps lenders make an informed decision at the time of offering you credit. When you close your old accounts, you lose a long credit history associated with it. Therefore, it is advised to keep your credit card open if you have used it for a substantial number of years.

• Have a regular CIBIL score check with PAN card.
• If you have a poor CIBIL score, you can improve it with the following tips:
• Pay your credit card bills and loan EMIs on time.
• If you are a frequent user, opt for a higher credit limit.
• Don’t use more than 30% of your approved credit limit.
• Don’t revolve your credit or pay less than due amount.
• Check your eligibility for loans and credit cards, and apply with the lenders where your chances of approval are higher.
• Check your check CIBIL score with PAN card regularly for any discrepancy or error.
• Have a mix of secured and unsecured loan types for different tenures.
• Keep a significant gap between two credit card applications.

Additional Reading: How to Increase CIBIL Score?

Additional Reading: CIBIL Dispute