CIBIL Consumer Report – Ultimate Guide to Understand Credit Report

Anish TadimarriCredit ScoreLeave a Comment

cibil consumer report

CIBIL consumer report gives a comprehensive review of one’s credit standing through a details report of their past credit transactions. It is important to understand the CIBIL report, its contents, and how each section of the report might impact one’s CIBIL score.

CIBIL Consumer Report Details – What is it?

CIBIL Consumer Report or Credit Information Report (CIR) has become the basic requirement to get a loan or credit card.  It is important for us to understand the report and how to better use it for our financial needs.

CIBIL is India’s first credit information bureau authorized by the RBI to be a credit reporting agency. CIBIL maintains records of all credit related transactions such as loans and credit cards were taken by companies and individuals. These records are updated regularly by obtaining data from banks and financial institutions. CIBIL calculates the credit score based on these records and this is referred to as CIBIL score.

When banks do a credit check on a loan applicant they get the Credit Information Report from CIBIL. This includes the CIBIL score in it. Applicants are evaluated based on the entire credit report to judge their creditworthiness before credit is issued. The information in a credit report also helps determine the amount, rate and time period of credit. So, it is not only important to have a good CIBIL score, but also to understand CIBIL consumer report and what it states.

Understand CIBIL Consumer Report

A CIBIL Consumer report or credit information report (CIR) is issued by CIBIL to affirm an individual’s credit position and score.  It can be classified into the following sections:

CIBIL Score

A CIBIL report analysis ensures a three-digit score between 300 and 900. The score is CIBIL’s numerical assessment of one’s credit history based upon the “Account Information” and “Enquiry Information” contained in a CIBIL consumer report. A score above 750 is considered an excellent CIBIL score and will qualify one for most loans and credit cards. Do read our informative article on what makes a good CIBIL score.

Personal Information

All identification and demographic information of the borrower are listed in this section. Some of the personal information contained is

  • Name
  • Date of birth
  • Gender
  • PAN (Tax ID)
  • Passport
  • Drivers License
  • Voter ID
Contact Information

Up to 4 email ID’s, phone numbers, and physical addresses are provided in this section. The report also clarifies whether the address is residential or office, and whether a given address is temporary or permanent.

Employer Information

In this section, for each time the said borrower has opened a new credit account, the borrower’s occupation and income are listed.

Account Information

This section contains the most critical information for financial institutions. This section contains detailed descriptions of

  • Past credit accounts including loans and credit cards
  • Name of the lender
  • Type of credit availed (personal loan, car loan, credit card, etc)
  • Account number
  • Is it single or jointly owned?
  • Date of opening each account
  • Date of last payment
  • Loan amount
  • Current balance
  • Total amount overdue
  • Month on month record of up to 36 months of payments.
Enquiry Information

This section of the credit report lists out the number of times one has applied for a loan or credit card (or Credit Enquiry). Too many loan enquiries without an approved loan will negatively affect one’s CIBIL score. Financial institutions deem those with too many enquiries as ‘credit hungry’ and potentially risky.

Consumer Dispute Remarks

The final section contains information on the remarks that have been left by the owner of the credit report. For a year after the remarks are made, all the comments will be shown to the credit institutions that access the report.

How to get a Free CIBIL consumer report?

You can get a Free CIBIL Report by PAN Card to better understand CIBIL report. Once you get your credit report, go through the entire report to see if there are any credit report errors. If your credit score is unsatisfactory, know that you can work towards improving your credit score. It will not happen overnight, but it can definitely be done by understanding your credit report and consciously working towards improving the score.

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