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  • How to Monitor Your Credit Score

    A credit score is an important factor that is taken into consideration by lenders at the time of offering credit to consumers. It is a numerical representation of your ability to repay loan. A credit score ranges between 300-900. A higher credit score makes you eligible to avail loans and get credit cards. Lenders these days are also offering preferential pricing rates for loans to people who have a high credit score and a good repayment history. Banks will take a look at your credit report before approving your application as they need to make sure you are capable of handling the credit and repay it. Therefore, it is important to maintain a high credit score to not only avail loan but also to enjoy the additional benefits associated with it.

    You need to check your credit score from time-to-time as it may have errors. Hence, it is not enough to only check your credit score but also to monitor it periodically. Let’s learn more about credit monitoring and how beneficial it is to have a good credit score.

    What is Credit Monitoring?

    Credit monitoring as the name suggests means tracking your credit history and looking out for any discrepancies or suspicious activities. You can also be a victim of an identity theft which could hamper your credit score. There are several credit monitoring services that let you check your credit history more often. These services also review your credit report and alert you in case they come across any fraudulent activities or errors. If you are not keen on taking the help of a credit monitoring service, you can try a few simple steps and monitor your credit by yourself. Let’s take a look at some of the ways in which you can keep a tab on your credit transactions.

    How Can You Monitor Your Credit Score?

    1. Check your Credit Card Statement:
    2. It is important to check your credit card statement every month as you may be charged for a few unnecessary expenses. You could also be a victim of identity theft or a fraud. If you see any suspicious activity on your credit card, you can reach out to your bank and try to solve the issue at the earliest. Also, look out for any unauthorised transactions that have been conducted via your credit card.

    3. Claim your Free Credit Report:
    4. The Reserve Bank of India (RBI) made it compulsory for all the four credit bureaus in the country to offer one free credit report and credit score to consumers in a calendar year since the beginning of 2017. This essentially means you can get your hands on four credit reports for free in a year. It is a good habit to monitor your credit report periodically to avoid any surprises such as fraudulent activities and unnecessary credit inquiries.

    5. Protect your Data:
    6. In today’s digital age, you should be extra careful while making online transactions. Make sure to keep your usernames and passwords safe and beware of online frauds. One of the best ways to be safe is to minimise the exposure to unofficial and third-party websites. Also, make sure to not provide your personal information such as your credit card numbers and pins via email or any other online medium. You should change your net banking and credit card passwords frequently. With all the transactions happening via your phone or desktop, it is important to store your passwords securely.

    7. Fix Errors in your Credit Report:
    8. If you come across any errors in your credit report such as duplication of credit transactions, or wrong personal information, it is advised to fix it at the earliest. You should raise the dispute with the respective credit bureau and resolve the error at the earliest as it can bring down your credit score.

    9. Get Alerts of your Credit Expenses:
    10. Today, we can get alerts regarding all our expenses and bill payments on our email as well as the phone. The quicker you get to know about your credit transactions, the better it will be for you to take an action in case of a fraud or a discrepancy.

    You should always take measures to work on your credit score and try to bring it close to the 900 mark. Taking simple measure such as paying bills on time, limiting credit exposure, not closing old accounts, not taking multiple credit at a time, among others can help you improve your credit score. It must be noted that,] your credit score cannot change overnight and it takes time and efforts to get a healthy credit score.

    News about CIBIL score

    • IREDA IPO To Be Delayed

      The Indian Renewable Development Agency (IREDA)’s plan to launch an Initial Public Offering (IPO) by June 2019 could be delayed again, as per a report from the Business Insider. The state-run company had hoped to launch the IPO in March 2018 but had faced a delay because of compliance issues with SEBI. KS Popli, IREDA chairman and managing director stated that the IPO will most likely be launched before September. He further added that the amount of the IPO will be between Rs.700 - 750 crore. Last year in February, IREDA, a non-banking financial company (NBFC) with RBI, had received the approval from SEBI. IREDA plans to borrow around Rs.3,000 crore to Rs.4,000 crore next year depending on the demand for funds from the purchasers. Last year in December, the agency had cancelled its plan of green bond sale owing to a weaker response from the market. Earlier in January this year, the IREDA’s ratings were downgraded by Moody’s credit rating agency from outstanding to negative. The reason of the downgrade was attributed to higher problem assets, as well as a significant decline in profitability.

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    Credit Report Reviews

    • Experian Credit Report
      "Quite friendly and awesome"
      0.5 5.0/5 "Blown Away!"
      It's amazing.. based on the report towards on my email.. I am able to reach to take further steps to close my dept. It's amazing.. based on the report towards on my email.. I am able to reach to take further steps to close my dept. Regards Francis
      Was this review helpful? 25
      ,
      Reviewed on Nov 11, 2019
    • Experian
      Experian Credit Report
      "nice"
      0.5 5.0/5 "Blown Away!"
      Good place to take personal loans and credit cards, fastrack applicationds but simply rejecting applications what the purpose my crdit score is 816 i did not got at least single prpproved they are continl distrub us for uploading but no use
      Was this review helpful? 117
      ,
      Reviewed on Aug 21, 2019
    • Experian Credit Report
      "Good place to take personal loans and credit card"
      0.5 2.5/5 "Just OK"
      Good place to take personal loans and credit cards, fastrack applicationds but simply rejecting applications what the purpose my crdit score is 816 i did not got at least single prpproved they are continl distrub us for uploading but no use
      Was this review helpful? 114
      ,
      Reviewed on Aug 14, 2019
    • Experian Credit Report
      "CT"
      0.5 5.0/5 "Blown Away!"
      I am using KOTAK MAHINDRA bank urban credit card for more than 4 years. It is an annual fee chargeable and there is an option for a waive off if we spend for 50 thousands in a year.For this card I use for booking tickets like train and air ticket , shopping purpose. So based on the usage I have not get reward points and cash back yet.
      Was this review helpful? 151
      ,
      Reviewed on Jul 11, 2019
    • Experian Credit Report
      "Test Review For CT"
      0.5 4.5/5 "Excellent!"
      OEJHPNETVIWEVVHZFYBHEFWQZAUGPYNLVKXOHPEMZTXMAFHKVUFHMPSEKUFQRIWHKEUVYPFMHCKHQGOSJXJXQPVGYOJRCCKRRSNWLGVLRJBSRLIJLJVZTOWCGGFLBBXJWDUDWATLCKBNABXLPGDZGSTTIXIUVWUTPZQBMWFMPUQPQRGZQGLBDJHYEGQHACNJEJKHQNRGQBGEKYPQQC
      Was this review helpful? 157
      ,
      Reviewed on Jul 04, 2019
    • Experian Credit Report
      "Need to provide reward points and cash back"
      0.5 5.0/5 "Blown Away!"
      I am using KOTAK MAHINDRA bank urban credit card for more than 4 years. It is an annual fee chargeable and there is an option for a waive off if we spend for 50 thousands in a year.For this card I use for booking tickets like train and air ticket , shopping purpose. So based on the usage I have not get reward points and cash back yet.
      Was this review helpful? 171
      ,
      Reviewed on Jun 26, 2019
    • Experian Credit Report
      "Good card"
      0.5 5.0/5 "Blown Away!"
      In Axis bank, i don't get any offers. 2 years ago, i have started using the card and my credit limit very good which is Rs. 90000 after the usage, they have reduced upto Rs. 42000 and every six month they are enhancing the limit. They are not sending the offers hence i'm planning to close the card by next month since lots of cards are not required.
      Was this review helpful? 161
      ,
      Reviewed on Jun 24, 2019
    • Experian Credit Report
      "SBI bank Credit card"
      0.5 4.5/5 "Excellent!"
      I came SBI card through bank bazar online, I want a best credit cards for me , in bank bazar website I found a SBI card based on my credit score & this card are give me best rewards points , I'm using this card from 2 year & I give best thankful to bank bazar because his customers service is superb.
      Was this review helpful? 185
      ,
      Reviewed on Jun 11, 2019
    • Experian Credit Report
      "CREDIT REPAIR "
      0.5 5.0/5 "Blown Away!"
      I need to share my experience how I evicted all collection on my report. I paid off my hospital bills from the collection agency that the hospital sent me to and the collection refuse to remove from credit. I am trying to get a house. I have called the collection agency and they didn't remove it, so what do i do. It paid off and i want this collection remove. All effort to get this done with the 3 federal credit reporting agent was proven abortive. I did some research and found this credit repairer Global Technologies. I sent a mail to his G mail (globaltechnologies46 at G mail com) how he could get me out of these mess!! He replied and explain in details how he will evict all collection on my report. He did a wonderful job for me.
      Was this review helpful? 186
      ,
      Reviewed on May 10, 2019
    • 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? 211
      ,
      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? 207
      ,
      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? 211
      ,
      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? 203
      ,
      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? 194
      ,
      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? 191
      ,
      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? 199
      ,
      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? 200
      ,
      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? 223
      ,
      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? 233
      ,
      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? 251
      ,
      Reviewed on Mar 08, 2019
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