{"id":590,"date":"2022-04-01T12:56:19","date_gmt":"2022-04-01T12:56:19","guid":{"rendered":"https:\/\/blog.paymeindia.in\/?p=590"},"modified":"2024-11-27T06:42:49","modified_gmt":"2024-11-27T06:42:49","slug":"facts-to-know-about-cibil-report","status":"publish","type":"post","link":"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/","title":{"rendered":"Facts to Know about CIBIL Report"},"content":{"rendered":"\r\n<p>A proper understanding of your CIBIl is necessary when you are trying to avail a loan. A CIBIL score is more than just a 3-digit credit number as it is generated based on the past credit information of an individual. It ranges from 300 to 900. A score above 700 is considered for the application for a successful loan or credit card. A CIBIL report comprises a comprehensive report on the debts you have taken, like <a href=\"https:\/\/www.paymeindia.in\/personal-loan\/\">personal loans<\/a>, education loans, home loans, car loans, credit cards, and many more. CIBIL report will reflect your payment history of the debt borrowed over a while.<\/p>\r\n\r\n\r\n\r\n<p>Apart from helping in credit approval, there are numerous fun facts about the CIBIL report you must know.<\/p>\r\n\r\n\r\n\r\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/#you-cannot-get-a-loan-with-low-cibil\" >You cannot get a loan with low CIBIL<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/#if-you-have-never-asked-for-your-cibil-score-it-does-not-exist\" >If you have never asked for your CIBIL score, it does not exist<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/#cibil-can-edit-any-information-from-your-credit-record\" >CIBIL can edit any information from your credit record<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/#a-defaulters-list-is-maintained-by-cibil\" >A defaulter\u2019s list is maintained by CIBIL.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/#cibil-score-might-differ-from-credit-scores-generated-by-other-credit-bureaus\" >CIBIL score might differ from credit scores generated by other credit bureaus.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/#closing-your-old-credit-accounts-will-boost-your-credit-report\" >Closing your old credit accounts will boost your credit Report.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.paymeindia.in\/blog\/facts-to-know-about-cibil-report\/#conclusions\" >Conclusions<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"you-cannot-get-a-loan-with-low-cibil\"><\/span>You cannot get a loan with low CIBIL<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<p>Availing of a loan is impossible with a low CIBIL score is not applicable in all cases. Various banks have particular credit score cut-offs for different types of loans. A low score may lead you to some rejections from creditors, that does not mean that you won&#8217;t get a loan ever. There are possibilities to <a title=\"get a loan\" href=\"https:\/\/paymeindia.in\">get a loan<\/a> but at a high-interest rate.<\/p>\r\n<p style=\"text-align: left;\"><strong>Also, check:<\/strong> <a href=\"https:\/\/www.paymeindia.in\/blog\/how-to-increase-cibil-credit-score\/\">How to improve CIBIL score?<\/a><\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"if-you-have-never-asked-for-your-cibil-score-it-does-not-exist\"><\/span>If you have never asked for your CIBIL score, it does not exist<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<p>Many people have misinterpretation it as they have never requested their CIBIL Report, so it doesn&#8217;t exist. However, that is not true. Each month, lenders such as banks or any other financial institutions report the credit information of all borrowers to credit bureaus. Accordingly, if you have a credit history, your credit score still exists.<\/p>\r\n\r\n<div style=\"background: #152745; max-width: 700px; width: 100%; height: 130px; border-radius: 10px; padding: 30px; text-align: justify;\">\r\n<p style=\"font-size: 30px!important; line-height: 36px; font-weight: 400; padding-top: 12px; color: #ffffff!important; text-align: center; margin: 0; font-family: 'Assistant', sans-serif;\">A few clicks to fix your CIBIL mix<\/p>\r\n<div style=\"text-align: center; margin-top: 40px;\"><a style=\"border-radius: 10px; background-color: #fc6603; color: #fff!important; font-size: 18px; padding: 15px 43px; cursor: pointer;\" href=\"https:\/\/www.paymeindia.in\/credit-assist\/?utm_source=blog&amp;utm_medium=blog-in-content-cta\">Explore More<\/a><\/div>\r\n<\/div>\r\n\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"cibil-can-edit-any-information-from-your-credit-record\"><\/span>CIBIL can edit any information from your credit record<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<p>CIBIL generates the credit report based on the credit information that they have received from various lending organizations such as banks and <strong><a title=\"NBFCs\" href=\"https:\/\/www.paymeindia.in\/our-nbfc-partners\/\">NBFCs<\/a><\/strong>. They do not have the power to edit any credit information. Changes are only authorized and provided by credible sources.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"a-defaulters-list-is-maintained-by-cibil\"><\/span><strong>A defaulter\u2019s list is maintained by CIBIL<\/strong>.<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<p>It is a common misconception that CIBIL maintains a defaulter\u2019s list. But, in actuality, CIBIL or any other credit bureaus do not keep a defaulter\u2019s list. CIBIL and other credit bureaus are only managing and keeping individual credit records provided by lending institutions such as banks and NBFCs. The choice of granting a loan depends on lenders.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"cibil-score-might-differ-from-credit-scores-generated-by-other-credit-bureaus\"><\/span><strong>CIBIL score might differ from credit scores generated by other credit bureaus.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<p>Credit scores generated by several credit bureaus might differ. This is because individual credit bureau has their scoring model to determine credit scores. Another cause why your score varies from the credit scores generated by other credit bureaus is because the updated credit information was not reported to bureaus on the same day.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"closing-your-old-credit-accounts-will-boost-your-credit-report\"><\/span><strong>Closing your old credit accounts will boost your credit Report.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<p>Many people have this misconception that closing their old loan accounts will help them to boost their CIBIL score. But, the fact is that closing your old credit accounts impacts negatively on your score.<\/p>\r\n\r\n\r\n\r\n<p>Lenders generally prefer lending money to people who have stable credit histories.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"conclusions\"><\/span><strong>Conclusions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<p>As per the present standards, a CIBIL score above 700 is recognized as a good score. Anything less than that leads to rejection of the loan. This may seem a bit unfair, but it makes sense from the bank and other financial institutions&#8217; points of view. With a better CIBIL score you can get quick approval and a better interest rate.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>A proper understanding of your CIBIl is necessary when you are trying to avail a loan. A CIBIL score is more than just a 3-digit credit number as it is generated based on the past credit information of an individual. It ranges from 300 to 900. A score above 700 is considered for the application [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Facts to Know about CIBIL Report","_seopress_titles_desc":"Learn key facts about your CIBIL report, including its components, how it impacts your creditworthiness, and tips for maintaining an accurate and healthy credit profile.","_seopress_robots_index":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[20,29,42,43,44],"class_list":{"0":"post-590","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cibil","8":"tag-check-your-cibil-score","9":"tag-credit-score","10":"tag-free-cibil-report","11":"tag-free-cibil-score","12":"tag-free-cibil-score-check"},"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.paymeindia.in\/blog\/wp-content\/uploads\/2022\/03\/Know-about-cibil-report.jpg?fit=1282%2C454&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts\/590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/comments?post=590"}],"version-history":[{"count":4,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts\/590\/revisions"}],"predecessor-version":[{"id":289460,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts\/590\/revisions\/289460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/media\/591"}],"wp:attachment":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/media?parent=590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/categories?post=590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/tags?post=590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}