Check CIBIL Score by PAN Card for FREE (BONUS: 3 FREE Credit Reports)

Anish TadimarriCredit ScoreLeave a Comment

check cibil score by pan card

CIBIL offers one FREE Credit score(report) per user per year as mandated by RBI. Many people do not know that they can check CIBIL score by PAN card online for FREE.

While CIBIL offers and promotes its paid report, many are not aware that CIBIL offers a free report and score that is not as prominently marketed. By checking the free CIBIL score, one can save INR 550. It is important to check CIBIL score often to ensure one is in good credit standing and that there are no errors being reported in their credit history.

In the below article, we will show how one can learn more about credit score, how one can check their CIBIL score, and additionally get 3 Free Credit Reports from Experian, Equifax, and CRIF Highmark.

Check CIBIL score by PAN Card for FREE

      1. Follow link: Free CIBIL Score and Report Online
      2. There are three main steps in the process:
        • Basic Information
        • Authentication using 3-5 questions
        • Report Access
      3. Gather required personal information:
        • PAN Card: Below, please see the key PAN card info that you will need
        • Address, Income, Contact info
      4. Fill out basic information
      5. In the following page, more personal information is collected
      6. You will be asked if you want a paid CIBIL report subscription. You can say NO.
      7. Authenticate yourself by answering 3-5 questions about your Loans & Credit cards
      8. Once you authenticate yourself, you will have access to CIBIL Score and Report online
      9. If your CIBIL score is low, use our simple checklist to improve your credit score

The process to check CIBIL score by PAN card directly with CIBIL TransUnion website is fairly easy and the best way to do so. We do not recommend using third-party sites offering free credit score report. Some websites offer scores by partnering with credit bureaus and do it in the hope of using customer data at a later point. Some other websites create third-party scores which are not an official score.

BONUS: Free Credit Report from Experian, Equifax, and HighMark

In case you want to check your credit score more than once a year, it is possible to schedule one free credit report per quarter. For example (January: CIBIL, April: Equifax, July: Experian, October: HighMark). Please follow the below links:

How to Check CIBIL score without PAN card

You can also check your CIBIL score using other identity documents including your Aadhar number and Drivers License details. If in the past, you have gotten a credit card or loan using above details, your records may be stored against your Aadhar card identity. However, increasingly with banks requiring PAN card for all loan and credit applications, one may need a PAN card for a new credit application.

If you do not have a PAN card, follow the below steps to get your free CIBIL score and report:

  1. Follow link: Free CIBIL Score and Report Online
  2. Under Tell us about yourself, you can click ‘No PAN?’
  3. Fill in the required details such as Full name, DOB, etc
  4. Choose the identity proof that you would like to use and fill in the details
  5. Full in personal contact details such as Address and Email ID
  6. You will then get your credit score and report access

Impact of checking CIBIL score

There is a very common myth that checking one’s credit report/score will impact their score negatively. However, that is not true.

It is true that multiple credit checks in a short amount of time impact one’s credit score. However, only credit checks made by lenders impact credit score negatively.

There are two types of credit checks that are done: hard checks (credit checks by lenders) and soft check (credit check by borrower).

So, as long as one is not making too many credit checks by applying with multiple lenders in a very short amount of time, one need not be worried about the impact on credit score.

We recommend that customers take their credit score in their hand by checking their credit score frequently to ensure they maintain great credit and financial health.

CIBIL Score Basics

What is Credit score?

A credit score is a credit rating given by an approved credit bureau on the creditworthiness of a customer based on the customer’s past credit usage and history.

Is CIBIL score the same as a Credit score?

CIBIL score is the credit score given by one of the 4 RBI approved credit bureaus, CIBIL TransUnion. However, CIBIL score is not the same as the credit score. It is one of the 4 credit scores given by credit bureaus in India.

What is CIBIL score?

A CIBIL score is a 3 digit numeric score between 300 to 900 that reflects the quality of one’s creditworthiness. Per RBI Rules, all banks are required to report all credit-related data to all the 4 credit bureaus.Then, CIBIL compiles all this data to understand customer credit patterns and establish a customer credit history and credit score. Banks use the credit score to judge the creditworthiness of all borrowers.

Who can issue credit score?

In India, one of the 4 RBI approved credit bureaus is able to give credit scores and reports. In this regard, all banks and NBFC’s are mandated to periodically update all the 4 credit bureaus with all credit data of all banking customers.The 4 credit bureaus in India are CIBIL TransUnion, Equifax, Experian, and CRIF Highmark.

What is CIBIL?

CIBIL TransUnion is one of the four RBI approved credit bureaus in India that gets data from all RBI approved banks regarding customer credit data. CIBIL can be abbreviated as Credit Information Bureau India Limited.

What does CIBIL do?

CIBIL gives creditworthiness data to banks of two types of borrowers: Consumers and Business borrowers. Consumers are provided Consumer CIBIL Report while businesses are provided Commercial CIBIL Report.

What is a CIBIL report?

A CIBIL report is a detailed history of one’s credit and loan behavior.

What is a good CIBIL score?

CIBIL scores range between 300 and 900. While 300 is the lowest possible score, 900 is the highest. Generally, a CIBIL score over 750 is considered excellent. A score between 650 and 750 is considered good. A score below 650 will not get one too many credit offers from banking and lending institutions.

Why should I check my CIBIL score?

Customers should check their CIBIL scores so that they are aware of their credit standing. It will help them maintain a good CIBIL score and know when their score changes.

What factors affect CIBIL score?

There are four main factors that affect the calculation of CIBIL scores. Here is the breakdown:

  • Past credit history and usage (30%)
  • Credit Utilization Pattern (25%)
  • Duration of loans, Type of loans and defaults (25%)
  • Past credit enquiries (20%)

How can I improve my credit score if I have a low score?

If you have a low credit score, you can definitely improve your score by being more watchful of below things:

  • Review your credit report frequently to make sure there are no errors
  • Make payments on time every period
  • Reduce credit utilization rate (Amount of credit used as a percentage of Total credit available)

Frequently Asked Questions

1. Can I check CIBIL score by PAN card?

Yes, one can easily check their CIBIL score by PAN card with any of the 4 credit bureaus.

2. Why is my PAN Card required?

Your PAN Card is required because all credit scores are matched to unique PAN card number. PAN Card serves the purpose of documentation for ID proof, address proof, and financial documentation.

3. Do all banks check CIBIL score?

All banks and NBFC’s are required by an RBI mandate to use credit scores from one of the 4 RBI approved credit bureaus while making credit decisions.

4. What if I do not have a PAN card?

If one does not have a PAN Card, they can request CIBIL to use their Aadhaar Card instead.

5. What is the range of CIBIL scores?

CIBIL scores range from 300 to 900, 300 being the lowest possible to 900 being the highest.

6. What is a good CIBIL score?

An excellent CIBIL score is one above 750. Such a score will help one to qualify for the best credit terms with shorter approval times.

7. What is a bad CIBIL score?

A poor CIBIL score is one below 650. A person with a poor credit score can improve their credit score by working towards healthy credit habits. Healthy credit habits include repaying overdue debt, paying bills on time, and reducing credit utilization.

8. Why is CIBIL score check FREE? Is there any other costs in T&C?

RBI has mandated that all the four credit bureaus provide one free credit report per year to borrowers. CIBIL has started to provide free credit reports for free after the RBI mandate. No strings attached. For free of cost.

9.What is a paid CIBIL subscription?

CIBIL allows you to get more than one credit report per year in the form of a subscription. Here are the different subscriptions available:

  • One report – Costs INR 550
  • Twice a year – 2 Reports cost INR Rs 800
  • Once a quarter – 4 Reports cost INR 1200

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