Step-by-Step Instructions for Checking Your CIBIL Score with Your PAN Card

 In the digital age, maintaining good financial health is as crucial as ensuring physical well-being. Your creditworthiness is a significant aspect of financial health, typically reflected by your CIBIL score. Understanding how to check credit score online is crucial, especially using your Permanent Account Number. Checking your CIBIL score regularly allows you to stay informed about your credit health and take necessary steps to improve it if needed. 

Why Should You Check Credit Score?

Understanding the process to check CIBIL score by PAN card online is a simple step in managing your finances efficiently. Listed below are some of the important factors that show why it is important to check CIBIL score by PAN card.

Loan Approval: Your credit score is one of the first things lenders look at when considering approving a credit card, home loan, car loan, or other types of credit. A higher credit score can improve your chances of being approved.

Interest Rates: The interest rate you are offered on loans or credit is often directly related to your credit score. A higher credit score usually results in lower interest rates, saving you substantial money over time.

Identifying Identity Theft: Regularly check credit score can help you spot any sudden changes that could indicate fraudulent activity or identity theft.

Understanding Financial Health: Regularly checking credit score is a good way to keep track of your financial health. It can help you understand how your financial behaviors affect your credit and what steps you might need to take to improve your score.

Credit Score Improvement: If you're working towards financial goals, like buying a house or car, it is important to check your credit score online on reliable platforms such as Bajaj Finserv Credit Pass, as it can help you track your progress and motivate you to maintain good financial habits.

How to Check CIBIL Score by PAN Card with Bajaj Finserv?

• Visit the Bajaj Finserv official website at bajajfinserv.in/check-free-cibil-score.
• Find the "Check Your CIBIL Score" section.
• Click on the "Check Score" link.
• Enter your mobile number to receive a One Time Password (OTP).
• Enter the OTP on the next screen and click "Submit" to check your credit score.
• Complete the online form with your name, date of birth, PAN card number, and other required details.
• Accept the terms and conditions.
• Click "Submit" to complete the process.
• Your CIBIL score and report will be displayed on the screen.

Important tips to maintain a good CIBIL score

It is important to maintain and check your credit score regularly for a healthy credit profile. A good credit score increases your chances of obtaining credit at favorable terms. Here are some important tips to help you maintain a good CIBIL score:

Keep credit utilization low

Credit utilization refers to the percentage of your available credit limit to the total credit limit. High credit utilization indicates credit dependency and can negatively affect your score. 

Maintain a healthy credit mix
A diverse credit mix, including a combination of credit cards and loans, can positively impact your credit score. It demonstrates your ability to manage different types of credit responsibly. 

Pay your bills on time
Timely payment of credit card bills, loan EMIs, and other dues is crucial. Late payments can harm your credit score. Set up payment reminders or automate payments to ensure you never miss a due date.

Regularly check your credit report
Monitor your credit report for errors or discrepancies regularly on online CIBIL score checking service such as Bajaj Finserv Credit Pass. If you find any incorrect information, such as inaccurate loan or credit card details, contact the credit bureau to rectify the errors.

Limit new credit applications
Each time you apply for new credit, it generates a "hard inquiry" on your credit report, temporarily lowering your score. Avoid making multiple credit applications within a short period unless necessary. Instead, focus on building a positive credit history with your existing accounts.

Maintain a long credit history
A longer credit history indicates your creditworthiness over time. If you have older credit accounts, keep them active and in good standing. Avoid closing old accounts, especially if they have a positive payment history, as it can shorten your credit history and impact your score.

Resolve outstanding debts and delinquencies
If you have any outstanding debts or delinquent accounts, work towards resolving them. Contact your creditors or collection agencies to arrange repayment plans or settlements. Clearing off such debts can gradually improve your credit score.

Conclusion

It's now easier than ever to check CIBIL score by PAN card online, and it's an important step everyone should take to maintain good financial health. It is important to check your credit score regularly to understand your creditworthiness and make informed financial decisions. Reliable online services like Bajaj Finserv Credit Pass have made the CIBIL score checking process simple and user-friendly.