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  • Company Credit Report(CCR)

    When you talk to someone about CIBIL scores and reports, more often than not, the picture that builds up in their mind will relate to home loans, personal loans, car loans or credit cards. This is because CIBIL scores have become an integral part of any form of credit being extended to an individual. These days, if you don’t have a good CIBIL score, you can say goodbye to the possibility of getting any loan approved.

    While that may be the case for loans for individuals, CIBIL is not just meant to judge the creditworthiness of individuals. A little known fact is that CIBIL maintains credit reports for companies too and it is referred to as Company Credit Report (CCR).

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    Why companies need credit reports If you, as an individual, decide to take a personal or a home loan, you need a CIBIL score that tells banks how good you are with repaying a loan. If the score is good then banks are more willing to extend loans to you but if it’s bad then they don’t want to risk giving you a loan. This is a principal that applies to companies too.

    Suppose you wanted to expand your business but were short of capital for said expansion. Your obvious step would be to approach a bank and that is where the company credit report comes in. Banks will decided on your creditworthiness based on the report they get from CIBIL.

    Why is the CCR important?

    Just like individuals, companies also have credit reports that are key to their ability to approach financial institutions for loans. The credit report tells institutions the situation of the company with regards to its credit. It has segments that can inform them of the existing credit that the company has, the outstanding amount and even if any lawsuits have been filed against the company.

    Needless to say, a good report equals approval of loans whereas a bad report will damage a company’s chances of being considered for a loan.

    Components of the CIBIL Company Credit Report

    If you own a business, you can ask for the Company Credit Report and see where you stand. If you do get the report, here is what you can expect to see in it.

    Identification

    This is the very first part of the report and gives details of the current report that deal with when it was generated, by whom, as a self-inquiry or enquiry by an institution. It also has a unique number associated with it which is generated every time your report is asked for.

    Profile

    The profile section is the second part of the report and contains all the details related to the company to which the report relates. It contains basic information like the company’s name, address and contact details. It also contains a unique number, assigned to each company, called the DUNS number (if it is shown as 99-999-9999 then a DUNS number has not been assigned to your company yet).

    Report Summary

    This is the part of the report that actually talks about the credit history. It lists the number of loans that the company has taken. It also lists the balance of the credit extended to the company and the number of sources that have extended said credit. If the company has acted as a guarantor for a loan then that too is mentioned in this section.

    Credit type and enquiry summary

    This is the section where the credit extended to a company is explained in more detail. It is split into the types of credit, overdraft, loans, etc. and the amount of each credit is also mentioned with the total credit mentioned at the bottom.

    How to improve company credit reports

    As with all credit reports, a company’s credit report can also suffer from the negative effects of non-repayment of credit extended. This means that:

    • If you have taken a loan in your company’s name then make sure you pay it back in time.
    • If your company has issued company credit cards then make sure not to default on the bills.
    • Make sure that your credit report is accurate. Sometimes there may be a mistake in the information sent to CIBIL by the bank and this mistake could cost you a loan.
    • Don’t take more loans than you can afford to pay back, especially if you already have loans that the company is paying back.

    Difference between CIBIL, CRISIL, Fitch Ratings, etc

    Many a time’s people confuse CIBIL ratings to be the same as CRISIL or FITCH credit ratings but this is not the case. There are two distinct differences between these ratings and these differences are:

    • CIBIL is a credit rating given to an entire company whereas ratings like CRISIL are provided for individual products offered by a company.
    • CRISIL ratings inform customers about the health of a particular product whereas CIBIL reports are meant to inform banks of the credit history of the company.
    • Companies, just like individuals, need to take loans which require a good credit history. That is why it is absolutely essential for companies to maintain good company credit reports.

    FAQs Regarding CCR

    Q. Do companies also have credit reports?

    Yes, just like individuals, companies also have credit reports that details their credit histories.

    Q. Why do companies need credit reports?

    When companies approach banks and financial institutions for commercial loans, they too require a good credit history to be eligible to take said loan. This is why they need credit reports.

    Q. How are they different from individual credit reports?

    The credit report of a company is not about an individual within the company but the company as a whole, whereas, an individual’s credit report is about their personal finances.

    Q. What is DUNS number?

    The DUNS number a unique number assigned to each company to track its credit history.

    Q. My companies DUNS number is shown as 99-999-9999. What does this mean?

    If your DUNS number is shown as 99-999-9999 then it means that a proper number has not yet been assigned to your company and one will be assigned in the near future.

    Q. Does a “write off” affect my CIBIL report?

    There are very few things worse for your credit rating than a loan against your name that’s been “written off”. Banks and lenders only write off loans when they are unable to locate the defaulter or the defaulter has flat out denied repayment. A write off basically means a loan that was never recovered, and lenders will almost never lend to a person who has a loan written off against his or her name.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Credit Report Reviews

    • Experian Credit Report
      "Credit Report"
      0.5 4.5/5 "Excellent!"
      Credit Report is providing a ease way to understand my cibil score and it is providing me an opportunity to apply for n number of banks. It is super good and i find it very cool and comfortable. Having perfect design, user friendly and accurate with more information..
      Was this review helpful? 22
      ,
      Reviewed on May 08, 2019
    • Experian Credit Report
      "Review of Credit Report"
      0.5 5.0/5 "Blown Away!"
      The credit report gives an excellent indication of my credit situation. The reports are updated with a lag. So, the exact credit situation is only reflected after a couple of months. Nevertheless, experience is good. The graphical representations are also good.
      Was this review helpful? 24
      ,
      Reviewed on May 04, 2019
    • Experian Credit Report
      "Ease of use, quick access and detailed report"
      0.5 3.5/5 "Pretty good"
      Recently I was about to apply for a loan and found bankbazaar through a search engine. Wanted to check my eligibility and credit score before i wanted to proceed further, Bankbazaar made it easy as they have all solutions in one platform. Im extremely satisfied with the services.
      Was this review helpful? 28
      ,
      Reviewed on Apr 30, 2019
    • Experian Credit Report
      "Credit Report"
      0.5 5.0/5 "Blown Away!"
      Awesome Service on credit report which is updated all the time. Very accurate and perfect. I could check and apply for various financial products. Keep it Up Bank Bazaar Team........................................................
      Was this review helpful? 26
      ,
      Reviewed on Apr 30, 2019
    • Experian Credit Report
      "Credit Report"
      0.5 4.5/5 "Excellent!"
      It was a great experience to fetch credit report through you guys . now i receive my monthly report which helps me track my credit status. This report helped me to apply for different financial products through bank bazaar. I happy with you guys.
      Was this review helpful? 21
      ,
      Reviewed on Apr 30, 2019
    • Experian Credit Report
      " My credit card is not show my security is very good"
      0.5 5.0/5 "Blown Away!"
      Credit card is not show my credit card is very good please help my credit card I have interest credit card please give me credit card I have happy it card miss you me please credit card me I have not credit card please give me credit card thanks give me card
      Was this review helpful? 20
      ,
      Reviewed on Apr 29, 2019
    • Experian Credit Report
      "credit report"
      0.5 5.0/5 "Blown Away!"
      It was a great experience to fetch credit report through you guys . now i receive my monthly report which helps me track my credit status. This report helped me to apply for different financial products through bank bazaar. I happy with you guys.
      Was this review helpful? 28
      ,
      Reviewed on Apr 25, 2019
    • Experian Credit Report
      "Excellent Service by Bank Bazaar"
      0.5 5.0/5 "Blown Away!"
      I could find bank bazaar to be very convenient in checking my credit score for applying any loan or an application for credit cards. Also after keying all the details the bank bazaar people wont disturb. Whenever there is an offer you will get a text regarding the information. Thanks for getting my accurate Credit score
      Was this review helpful? 23
      ,
      Reviewed on Apr 23, 2019
    • Experian Credit Report
      "Experian credit report"
      0.5 5.0/5 "Blown Away!"
      I checked my credit score in bankbazaar web site ,it has given score with in span of seconds. I wondered ,it is free of cost for checking. It is really a wonder. Congrats to bankbazaar team members . Thanks a lot once again to all bankbazaar team members
      Was this review helpful? 53
      ,
      Reviewed on Apr 05, 2019
    • Experian Credit Report
      "Realiable credit score"
      0.5 4.5/5 "Excellent!"
      I checked my credit score in bank bazar website. It gave instantly with all my banking past history. It was very much useful. It helped me know my credit status report at no cost . It only required few hassle free clicks and that over.Really appreciable!
      Was this review helpful? 62
      ,
      Reviewed on Mar 24, 2019
    • Experian Credit Report
      "Credit Score Tracking"
      0.5 4.5/5 "Excellent!"
      I am using bank bazaar features from last few years. Service provided by bankbazaar is good when compared to others in the market . Customer service is good and their response is good. One step solution for all you banking needs . A periodic tracking of your credit score is maintained well and kept updated in email as and when new scores arrive .
      Was this review helpful? 68
      ,
      Reviewed on Mar 08, 2019
    • Experian Credit Report
      "Very nice"
      0.5 5.0/5 "Blown Away!"
      Thanks I visited a number of sites on regards in the above matter, but what ever the response I got through bank bazar was marvellous and extra ordinary.... Thanq for providing such easy platform for getting in touch to obtain the debit cards so easily.
      Was this review helpful? 65
      ,
      Reviewed on Mar 02, 2019
    • Experian Credit Report
      "Good service"
      0.5 3.5/5 "Pretty good"
      I am using the services of bankbazaar from last 1 year. I checked my credit score using the mobile app which was user friendly and easy to use. Customer service was good and their response was on time. I found all the information at one place on the mobile app.
      Was this review helpful? 79
      ,
      Reviewed on Feb 26, 2019
    • Experian Credit Report
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have been using the services of bankbazaar from last 5 months. Customer service is fine with bankbazaar and their response was prompt. The website of bankbazaar was easy to use and was user friendly. It was easy to fill the details and check the credit score.
      Was this review helpful? 85
      ,
      Reviewed on Feb 26, 2019
    • Experian Credit Report
      "Good service"
      0.5 4.0/5 "Great!"
      I had received a mail communication from bankbazaar advising me to check the credit score. Though this was my first experience it was simply superb. As far as the level of service is concerned it was good also the response was on time.
      Was this review helpful? 77
      ,
      Reviewed on Feb 26, 2019
    • Experian Credit Report
      "Good service"
      0.5 4.0/5 "Great!"
      I was checking on google for personal loans and then i came to know about bankbazaar. The services provided by bankbazaar was good and their response was prompt. The website of bankbazaar is easy to use and also user friendly.
      Was this review helpful? 72
      ,
      Reviewed on Feb 26, 2019
    • Experian Credit Report
      "Good experience"
      0.5 4.5/5 "Excellent!"
      I was looking out for a personal loan and I ended up reaching this site for checking my credit score. The report was very much accurate and informative too. It hardly took 5 minutes for me to fetch the report. Coming to the website even that was very much user friendly.
      Was this review helpful? 71
      ,
      Reviewed on Feb 26, 2019
    • Experian Credit Report
      "Good experience"
      0.5 4.0/5 "Great!"
      Nothing new nor there was no specific reason for checking the credit score infact this is my first experience. It hardly took few minutes for me to fetch the credit report. The report was very much accurate and informative too. Even the response was equally good.
      Was this review helpful? 66
      ,
      Reviewed on Feb 26, 2019
    • Experian Credit Report
      "Good experience"
      0.5 4.0/5 "Great!"
      I did not encounter any issues at the time of fetching the credit report. I have checked my credit score previously too and I would certainly say it was a good experience. It hardly took 2 to 3 minutes for me to fetch the score. According to me the report was accurate,informative and perfect.
      Was this review helpful? 71
      ,
      Reviewed on Feb 26, 2019
    • Experian Credit Report
      "Good experience"
      0.5 4.5/5 "Excellent!"
      To start off, it was a good experience at the time of fetching the credit score. This is the first time i have checked the credit score because i wanted to get the credit card. Report was accurate and was informative. It was easy to fill the details and get the report. In all it was a smooth process.
      Was this review helpful? 75
      ,
      Reviewed on Feb 26, 2019
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