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Credit Bureaus in India

Do you know the best credit bureaus in India?Here is the great information https://www.creditseva.com/cibil

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Credit Bureaus in India

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  1. Credit Bureaus in India

  2. Credit Bureaus: Overview • Generally, Credit Bureaus give out individual credit scores. A credit score is a summary of the credit report, capturing an in-depth credit history of an individual, both past and present. • This information usually covers the credit history, number and type of accounts held by the individual. Following are the types in India • Transunion CIBIL • Experian • Equifax • CRIF Highmark.

  3. Transunion CIBIL • In India, TransUnion CIBIL Limited (or CIBIL – Credit Information Bureau India Limited CIBIL) is one of the foremost credit bureaus licensed to operate by the Reserve Bank of India (RBI). • CIBIL gathers and preserves records of an individual’s payments pertaining to credit cards and loans. • A good CIBIL score is a crucial component of one’s financial life in India. • CIBIL score comes with a cost. CIBIL is one of the oldest credit bureaus in India, alongside Equifax, Experian and CRIF High Mark authorized by RBI. • You can get Cheap & Free CIBIL Score and Report

  4. Experian • In India Experian operate two firms namely • Experian Services India Private Ltd • Experian Credit Information Company of India Private Ltd • Experian gathers the credit information of individuals and represents it as a credit report to lenders like NBFCs and banks • The Experian Credit Report is helpful in deciding the creditworthiness of the individuals who have applied for the loan. • An Experian credit report has the entire credit data related to the individuals who have opted for collecting the credit report from Experian • An Experian Credit Score is obtained from the Credit Report. The lending authorities choose to provide credit to such individuals who have credit score that is higher than the other individuals.

  5. Equifax • Headquartered in USA, Equifax Inc. operates in 15 countries throughout North America, Europe, Asia and Latin America. • Equifax India Collects the information from their respective members, processes the data to a usable and readable style and provide reports related to credit information and other relevant products that is within the purview of CIC Act, on consumers for many different types of uses • By launching its microfinance bureau in May 2011, Equifax India is providing portfolio reviews and risk scores of various microfinance institutions across the country • Tips to Maintain Healthy Credit History for Equifax- set a schedule for payments,pay the bills on time, proper mix of credit

  6. CRIF Highmark • CRIF Highmark founded in the year 2007, it's received a certificate of Registration from RBI to operate as a Credit Information Bureau in the year 2010 in India. • CRIF High Mark is India’s leading credit information solutions and comprehensive services provider related to information across the important segments of consumer, micro-finance and commercial. • Major Products and Services of CRIF High Mark for Consumers Include: • Geo analytics consulting • Alerts • Portfolio Management • CRIF High Mark Credit report

  7. Free Credit Score & Report in India – Equifax, Experian & TransUnion CIBIL • Transunion CIBIL You can avail your free credit report by clicking on the link provided on the website’s homepage. https://www.cibil.com/sites/default/files/pdf/free-consumer-request-form.pdf . Firstly you will be directed to a request form. • Experian Visit the website http://www.experian.in/consumer/experian-free-credit-report.html and click on ‘Get Your Free Credit Report’.

  8. Free Credit Score & Report in India – Equifax, Experian & TransUnion CIBIL • Equifax The first step is to download an app on your smartphone. It is compulsory to share your Aadhaar Number along with your basic KYC details http://www.equifax.co.in • CRIF High Mark You will find a link to get the free credit report on their homepage. Clicking on this link will ask you to provide your KYC details http://www.crifhighmark.com/

  9. Conclusion: What is the Use of Credit Bureaus? • The primary purpose of credit bureaus is to ensure that creditors have the information they need to make decisions. Typical clients for a credit bureau include banks, mortgage lenders, credit card companies and other financing companies. • These companies that collect details about a person's credit information (how they use their credit, whether they pay back on time or not, if they have any public records such as bankruptcies or repossessions) and sell it to creditors, lenders and consumers as a credit report. • According to Consumer Reports (Aug/05) credit scores are used by the lender to determine how much interest you pay on loans, by insurers to calculate premiums, by employers who are hiring, by mortgage lenders, by landlords and by utility companies to have connected. • You can get Free Credit Score & Report from Creditseva in India.

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