• Reasons why you must check the Credit Report

    The credit report is the document where the credit history of a person is mentioned in detail. There are different credit bureaus in the market today. These credit bureau collects all the credit information and create the reports. Banks or lenders make use of these reports along with some other information to understand the credit worthiness of various loan applicants.

    In order to understand the credit report, one must understand the credit score. The score is a number that is based on the credit files of an individual. If you apply for a loan, your credit score plays a very important role. It determines if you are eligible for a particular loan amount, the interest associated with it, etc.

    There are several reasons why you must keep a track of your credit report. Some of the reasons for checking your credit report are mentioned below:

    • When you are planning to purchase a car or a house – In case you wish to purchase a car or a house and apply for a loan accordingly, the bank or the lender will check your credit report before it accepts your loan application. The data present in your credit report determines the score. This score in turn determines the rate of interest that will be associated with the car loan or home loan. Check your credit report and try and fix all errors on it at least a year before applying for a loan.
    • When you rent a place to stay – Property management companies or landlords do not always check your credit report. However, if the landlord or the property management organisation takes a look at your credit score and finds the score to be on the lower side, you might not get the apartment. Even if you get it, the landlord can ask for bigger amount as security deposit. This happens as they might think that you will not be able to pay the rent on time.
    • When you intend to make a big purchase – In case you know that some big expense is coming up for you like renovation of the house, you should ask the credit card issuer to increase the credit limit so that you can easily cover up such expenses. In case you credit report looks bad, your card issuer will turn down your request. It is advisable that you maintain a good credit history so that the score looks good on your report.
    • When you are looking for a new job – In case you are looking for a job, the company hiring you might ask for your credit report. This mainly happens when you are applying for a job that requires you to handle large chunks of money. If you have credit report issues, you might not stand eligible for the job anymore.
    • When you are planning to refinance – In case you have a house or a car and you wish to refinance the loan that you took to buy that car or house at an interest rate that lower than the current rate you are availing, the new lender or the new bank might ask for your credit report. This is required so that the new lender can see if there has been substantial changes in your financial status. The refinancing request may be turned down by the new lender if he sees that the history looks bad on the credit report.
    • When you have noticed something doubtful – In case you get a collection call for a different person or receive an email about a credit card that you never applied for, it could be that your credit card information has been compromised. If you carefully take a look at your credit report, you will surely understand if there has been any case of fraudulent activity.
    • When you have not checked your credit report in quite some time – You can avail your credit report from CIBIL, Experian, High Mark, etc. at least once a year. It is a good thing to check your credit score from time to time. In case of any discrepancies, you must contact your credit card issuer. It is always good to avail more than one report from different credit bureaus.

    Bottom Line – It is of utmost importance that you keep track of your credit score by checking the credit report. It is a good practice to pay your credit bills on time. It takes your credit worthiness higher and makes the credit history look good. It is also good to check your credit report to avoid getting involved in fraudulent activities.

    CIC Reviews

  • Page 1 of 2 1 2
    • Bank Bazaar Credit Card
      "Good Financial Advisor"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      It has detailed information and gives proper credit report without any hassles, I have been using Bank Bazaar for past one year, I would say its easy navigation. The service level is satisfactory gave me required information about the banking products.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 22, 2018
    • review Consumer Durable Loan
      "Good Service"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      Good Services for bajaj finserv card finance all Products without internet and extra Hidden Charge's I am Impress For Bajaj Finserv Services Credit Card For Every Person. No Credit Report No More Documents Required and IMP Online Buy....
      Was this review helpful? 0
      , bhavnagar
      Reviewed on Feb 12, 2018
    • ICICI Bank Personal Loan
      "Average experience"
      ICICI BANK
      0.5 2.0/5 "Expected more"
      I took a personal loan with ICICI Bank around 2007. When I settled the loan clearly mentioned the name shouldn't reflect on my credit report but it not happened. They are not provide any sort of help, telling to send an email and had to visit the branch. The rate of interest was nominal.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 08, 2018
    • Bank Bazaar All Products
      "Easy to Use"
      ALL BANKS
      0.5 4.0/5 "Great!"
      Awesome service and easy to use service and you can apply for saving account,credit cards,Home loans,Personal Loans,Car Loans,Fixsed Deposits and much more with gift vouchers and you can check free credit report and manage all your financially activity with easy way.
      Was this review helpful? 0
      ,
      Reviewed on Jan 30, 2018
    • Bank Bazaar Credit Card
      "Satisfactory"
      SBI CARDS
      0.5 4.5/5 "Excellent!"
      Bank Bazaar customer care is very good. I was using the website for past 6 months. It was used to check my credit report without any hassle. The website was easy to check the offers with multiple banks. The response was very good but bank people taking more days to approve the application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 20, 2017
    • Bank Bazaar Credit Card
      "Professionally presented website"
      HSBC BANK
      0.5 5.0/5 "Blown Away!"
      The ease of access to credit score with user friendly application processing. The credit report was accurate and provided me with consolidated report with all my details at one place. I would recommend the website to all. check your credit score for free
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 23, 2017
    • Bank Bazaar Personal Loan
      "Loan"
      FULLERTON
      0.5 5.0/5 "Blown Away!"
      Bankbazaar service is very very good . Bank bazar really fast service & free CREDIT report we can compare with others bank which they provide lowest rate of interest as per we need thank you for providing this platform for people who needs finance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 18, 2017
    • Bank Bazaar Personal Loan
      "I am really very happy to have an application"
      FULLERTON
      0.5 5.0/5 "Blown Away!"
      Bank bazaar gives very good service. The bank bazaar helped me to get in touch with the partner bank on time. The customer support gave good response with regards to my persona loan application . I have easily check my credit report with the help of bank bazaar website. I have used bank bazaar website which is easy to use and user friendly.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Oct 13, 2017
    • Bank Bazaar Personal Loan
      "Good service"
      FULLERTON
      0.5 4.0/5 "Great!"
      Bank bazaar gives very good service. The bank bazaar helped me to get in touch with the partner bank on time. The customer support gave good response in regards to my persona loan application . I have easily check my credit report with the help of bank bazaar website. I have used bank bazaar website which is easy to use and user friendly.
      Was this review helpful? 0
      , guntur
      Reviewed on Oct 12, 2017
    • Bank Bazaar Home Loan
      "Good website"
      HDFC LIMITED
      0.5 4.0/5 "Great!"
      Bankbazaar provides good services when compared to other banking websites. I am using this website from last 3-4 years, i found the website is easy to navigate and user friendly. The only problem i found in this website is the credit report, I tried mulitple times to to get credit report but the error pops up as 'unable to fetch your request' could be great if bankbazaar works on it.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Oct 09, 2017
    • Bank Bazaar Credit Card
      "Nice"
      CITIBANK
      0.5 5.0/5 "Blown Away!"
      Excellent working nice, provides nice suggestions , Always good, so use the bankbazar and get free credit report nice. I have got the maximum credit cards u have got it... I would definitely apply and get a satisfactory result. I am very much happy and next chance is about to come up...
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 07, 2017
    • Axis Bank Personal Loan
      "Unprofessional services"
      AXIS BANK
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with Axis bank. Though I have a good credit report and my ITR is up to the mark and my documents are perfect. Just because I did not have a permanent home address, the personal loan was not processed. I would have appreciated if the bank has got back to me and informed me the status as I was waiting for this loan.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Very user friendly"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      One of the best site for checking your credit score please use this website for trusted credit report. I am guiding everyone to use this website to findout your credit report using your pancard or adharcard to retrieve your bank details i mean credit report.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 15, 2017
    • Bank Bazaar Credit Card
      "Online application processing is very fast "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Online Application is very easy and good service for loan enquiry submit any loan / credit card etc. Provided the link for on line documentation to apply for the loan . I like it. Responsiveness is very good .But really like bank bazaar as it provides very good option . Free credit report what they provide is also good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 05, 2017
    • Bank Bazaar Credit Card
      "It's Great "
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      "GOOD "Online Application Very easy and good service for loan enquiry submit any loan / credit card etc. Provided the link for on line documentation to apply for the loan . I like it. Responsiveness is very good .But really bank bazar is a very good option . Free credit report what they provide is also good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 02, 2017
    • Bank Bazaar All Products
      "Bank bazaar is excellent."
      ALL BANKS
      0.5 5.0/5 "Blown Away!"
      Super service , very faster than any other company. It gave perfect credit score and made me happy. Please all use bank bazaar. After knowing my credit report and loan details, I am planning for close all defaults. Bank bazaar bring zero to hero again and again.
      Was this review helpful? 0
      ,
      Reviewed on Aug 30, 2017
    • Bank Bazaar Credit Card
      "Good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      "GOOD "Online Application Very easy and good service for loan enquiry submit any loan / credit card etc. Provided the link for on line documentation to apply for the loan . I like it. Responsiveness is very good .But really bank bazar is a very good option . Free credit report what they provide is also good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 29, 2017
    • HDFC Bank Credit Card
      "FAIR SERVICE"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      Financial charge is very high with the principle amount ,And my credit reports were down still i dint get any response as a mail ,text no intimations were given for me regarding my credit report ,I even have registered a complaint with them regarding that it I like to tell their representatives are not responsible with the service ,So it was an reason for the cancellation of my loan
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 29, 2017
    • Bank Bazaar Car Loan
      "Very Good service"
      DENA BANK
      0.5 5.0/5 "Blown Away!"
      Very good service from BANKBAZAAR ,You people giving a right solution for an right requirements ,And the requirements you provide is very perfect ,Excellent service from your representatives ,The most important thing I like with BANKBAZAAR was you were helping to check the my credit reports of free which helps me a lot for my future loan or financial process to plan ,Because credit report is something very important for applying for any loans once i applied for a loan without checking my credit reports which was the problem for the rejection of my loan during that time ,So overall the service was excellent with BANKBAZAAR
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 29, 2017
    • Bank Bazaar Credit Card
      "Online Application"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Very easy and good service for loan enquiry submit any loan / credit card etc. Provided link for on line documentary for apply loan . I like it. Responsiveness is very good .But really bank bazar is a very good option . Free credit report is a good facilities.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 26, 2017
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