The Top 4 Cibil Variables And How to Verify Your Score Online

CIBIL (Credit Information Bureau India Limited) is a credit information company that maintains credit records of individuals and companies and helps to check CIBIL Score online for free. CIBIL scores are used by lenders to evaluate creditworthiness and determine interest rates on loans and credit cards. In India, there are four key variables that determine CIBIL Scores.

Variables Which Determine CIBIL Score

Credit History

Your credit history is a record of your past borrowing and repayment behavior. This includes credit cards, loans, and other debts. Your credit history accounts for 30% of your CIBIL Score. To improve your credit history, make sure to pay your bills on time and in full and monitor your credit report & check CIBIL Score online for free.

Credit Utilization

This is the percentage of your credit limit that you have used. Your CIBIL Score is negatively impacted by high credit utilization. Experts recommend keeping credit utilization below 30%. For example, if you have a credit limit of ₹1,00,000, you should try to use no more than ₹30,000 in a billing cycle.

Credit Mix

This is a direct reference to the types of credit you own. A healthy utilization of loans, credit cards, etc impacts your CIBIL Score positively. It accounts for 25% of your score.

Credit Inquiries

This refers to the number of times your credit report has been accessed by lenders or other institutions. Too many inquiries can negatively impact your score. It accounts for 10% of your score.

To verify your CIBIL score online, you can follow these steps:

Visit the CIBIL website (ww.cibil.com).
Click on the “Get Your Credit Score” button.
Fill in your personal information, such as name, date of birth, and PAN number.
Create a login ID and password.
Choose a subscription plan.
Make the payment.
You will be able to assess your CIBIL Score on the screen.

Understanding the key variables that determine your CIBIL Score is important for maintaining good credit health. By following best practices, such as paying bills on time, keeping credit utilization low, and maintaining a healthy mix of credit, you can improve your score over time. There are various websites that allow checking CIBIL Score online for free. Additionally, verifying your score online is a simple and convenient way to stay informed about your credit standing.