A few years ago, checking your credit score was a subject for bankers and finance professionals. However, today , by the grace of technology,  it’s something every person can easily do. Whether a salaried employee, a self-employed person or somebody who is  just starting in their career, should track their credit score regularly and understand what is their performance in the credit report..

Though it is easy and can be checked as per convenience, still, many people hesitate or are not aware of the right procedure.

Questions like “Will checking credit score impact negatively on the score?” or  “Is it really free or there are hidden charges?” or  “What if my score is low?” etc

The truth of the matter is that taking a free credit score check online is one of the smartest financial habits you can get into. The process takes less than a minute, is free of cost and offers you clarity in terms of where you stand financially.

In this article , Credit Mitra is going to rip all that down for you so that you have better clarity on   what is a good credit score, why is this important, how you can get a free credit score instantly, and what to do after you have your free credit score report.

What Is a Credit Score and Why Do You Need to Care?

Your credit score is a three-digit number that signifies how credit worthy you are.

In India, this score typically varies between 300 and 900 and will be calculated by credit bureaus such as Cibil Transunion , Experian , Equifax and CRIF High Mark.

Consider it as your financial report card which evaluates your financial performance on all the credit instruments like credit card, loans, over-draft facilities etc .

All the indian banks and lenders have a pre-defined threshold on the credit score and any loan application which has credit score below that threshold mark is rejected straightaway  and the application which clear this hurdle , the lender analyses your credit report  as a tool to analyse the following:

•  Your performance and check your eligibility.
• Whether you can approve your loan or credit card
• How much amount you’re eligible for
• What interest rate you’re going to be charged
• How quickly you can get your loan approved

A higher credit score indicates a more responsible borrower behaviour , while a lower score typically signals a higher level of risk to lenders.

Even though you aren’t looking to take a loan anytime soon, it’s crucial to know what your credit score is as it will  prepare you in advance for the necessary steps .

 Life is unpredictable – medical expenses, travel plans, repairs to the home – and access to credit is so much easier when your score is in good shape.

What Does Considered Good Credit Score In India?

While levels of specifics (cut-offs) are different from lender to lender, here is a simple breakdown:

750 and above: Excellent

700 – 749: Good

650 – 699: Average

Below 650: Needs improvement

If your score is 750+ ,  your chances of receiving a quicker approval as well as a competitive  interest rates becomes more favourable. If your credit score lies in a lower range  than  don’t panic , and this should motivate you, credit scores aren’t permanent. With the correct habits, right financial discipline your credit score can get better with time.

Can You Actually Do A Free Credit Score Cheque Online?

Absolutely.

Today there are a number of digital platforms where you can check your credit score for free with no hidden charges. You don’t need to pay a single penny, you do not need to go to a bank branch and fill lengthy forms.

At CreditMitra, we are focused on bringing financial literacy to every deserving Indian. Our goal is to provide a quick and effortless process for downloading your credit score. This process we have designed is  completely free, digital, quick & secure. And most importantly, checking your score has no impact on your credit score.

Does Checking Your Credit Score Lower It?

This is one of the greatest myths.

The simple and plain answer is NO.

When you use an online free credit score check, this is considered a soft inquiry. And for your information Soft Inquiries have no impact on your credit score. You are free to check your score as many times as you like without the fear that your credit score will go down.

Only loan or credit card applications made to lenders result in hard inquiries, which may have a small and temporary impact.

So go ahead and keep track of your score regularly – it is a good habit, not a risky one.

How To Check Your Credit Score Examples Poor.

Checking your credit score online is very easy today. Here are the way it usually works on a digital first platform like CreditMitra:

Step 1:

Fill Your Basic Information.

You will be requested to provide such simple information as:

Full name (as per PAN)

Mobile number (linked to AADHAR, recommended)

PAN card details

Date of birth (As Per PAN)

Step 2: Verify with OTP

An OTP is sent to your registered mobile number for the purposes of speeding up the process. This ensures security and also avoids misuse.

Step 3: Access Your Credit Score on the Spot.

Once verified your credit score is displayed on the screen within seconds – no waiting, no paperwork.

That’s it. No Payments, no Obligations, no Spam.

What Kind of Information Do You See with Your Credit Score?

A free credit score check online will normally provide you with more than a number. You also get insights such as:

• Your current range of credit score
• Active Accounts of Loans and Credit Cards
• Payment History Summary
• Credit utilisation details
• Number of recently inquired credit
• Re-payment history

These types of details are useful to show you why your score is what it is , and what you can do to improve it.

Who Should Be Monitoring the Credit Score?

Short and crisp answer: Everyone. 

But especially if you are 

• Planning to apply for a personal loan, home loan or car loan 
• Using multiple credit cards
• Paying EMIs regularly
• A person who was turned down when applying for a loan earlier
• A first time borrower installing credit history
• Someone who has not checked his or her score in the last 6-12 months

Your monetary situation changes over the years and hence these changes affect your credit score, positively or negatively, depending on your financial discupline

How Often Should You Check Your Free Credit Score?

A good rule of thumb is pretty often; once every 3 to 6 months.

Regular checks help you:

• Identify errors in your credit report
• Track improvement after repayments
• Detect fraudulent activity at an early stage
• Stay loan-ready at all times

Since it’s free and there’s no downside to getting your score checked on a periodic basis.

Common Reasons why Your Credit Score may be Low:-

If you’ve taken a look at your score, and you see it is not where you thought you would like it to be, here are some of the common reasons learnt :

• Late or Missed Payments,

Even one missed EMI bill or credit card bill can affect your score to a great extent.

• High Credit Utilisation

Using over 30-40% of your entire credit limit on a regular basis can be an indication of financial stress.

• Too Many Loan Applications

Applying for several loans or cards in a short period of time results in several hard inquiries.

• Old Dues or Settlements

Settled accounts (instead of closed) unpaid dues drag your score down.

• No Credit History

If you have never taken out a loan or credit card, you may not have enough data to come up with a strong score.

The good news? Most of these are correctable through time and discipline.

How to Boost Your Credit Score After Checking Your Credit Score:

Once you know your score, then the next step is action. A few easy habits could help a lot:

• Pay all EMIs, credit card bills on time.
• Keep credit utilisation low.
• Don’t make unnecessary loan applications.
• Keep the older credit accounts.
• Regularly check your credit report for credit mistakes.

Credit scores don’t improve overnight – but good behaviour always pays off.

Why Use CreditMitra for Free Credit Score Check?

CreditMitra is created with Indians in mind, who desire to be clear, in control and confident about their financial health.

With CreditMitra, you get:

• Free Online Credit Score Check with an option to select your desired bureau. 
• Instant and hassle free access to your  credit report.
• Secure and transparent data handling that is encrypted
• Insights that are clear – jargon free reports for better understanding
• A platform that will help you make better credit decisions

CreditMitra makes keeping score easy and open enough when you need to just check it, or when you have your eyes on your next financial step.

Final Thoughts

Your credit score is nothing to be afraid of or neglect. It’s a tool that can be used to open doors if well managed.

Doing a free credit score check is the first step in generating better financial decisions. It gives you awareness, control and the confidence to be able to plan ahead.

If you have not checked your credit score yet, now is the perfect time. It only takes less than a minute – and the insights that you gain can benefit you for years.

Check your credit score for free. Stay informed. Stay prepared.