CRIF High Mark

CRIF High Mark Credit Scores Meaning

Generally, all credit bureaus follow a similar range for credit scores. CRIF High Mark score ranges between 300-900, 900 being the highest. The credit score predicts the probability of an individual's? default within the next 12 months. A credit score close to 900 indicates that an individual is less likely to default the credit.

Here?s How CRIF High Mark Credit Score is Divided:

1. 300?500 (very low): This score indicates that the customer is at a high risk of defaulting credit and has a bad track record of repayment and poor credit history. There is a high possibility that lenders will not provide credit to such customers.

1. 500?650 (low): A score in this range indicates that the customer has a low score and has delayed and defaulted on payments. Customers who have not been prompt in making payments are still a risk for lenders and hence some of them may not provide loans to such customers.

1. 650?750 (great): Generally, lenders like banks and non-banking finance companies consider a credit score of 750 as ideal. Customers having a score in this range have usually displayed a good repayment behaviour. Moreover, they are also likely to maintain a good balance of secured and unsecured credit score. Such type of customers are ideal for lenders as they have a low risk of defaulting.

1. 750-900 (excellent): Customers having a credit score in this range are considered to be extremely dependable in terms of credit as they have displayed an excellent repayment behaviour and have never defaulted on payments. They have an impeccable record of paying off all the dues and using the credit wisely. Lenders are willing to offer loans to such type of customers.

Differences Between CRIF High Mark And CIBIL

CRIF High Mark and CIBIL are two of the four credit bureaus in the country. Both the credit bureaus offer credit score and credit report to individuals and companies. Let?s check out some of the differences between the two credit bureaus:

1. Price: A CIBIL report along with a CIBIL score cost Rs.550 while a CRIF High Mark credit report and score costs Rs.399 (including GST).
2. Established: TransUnion CIBIL was established in 2000 while CRIF High Mark was established in 2007 and started operating as a credit bureau in 2014.

Product and Services offered by CRIF High Mark

CRIF High Mark offers several products and additional services for consumers and companies.

For Consumers:

1. CRIF High Mark Credit Information report: A consumer credit report has all the information about their accounts, credit history and repayment behaviour. The credit reports help banks and NBFCs to measure creditworthiness and ability of an individual to repay the credit.
2. Microfinance credit reports: It provides a detailed track record of all group loans taken by individuals from lenders such as banks, NBFCs, and Microfinance Institutions (MFIs). Microfinance Credit Reports are generated using our advanced Identity Resolution engine. CRIF?s Microfinance Credit Report can be accessed via Member Portal (HUB) as a single report. CRIF High Mark launched India?s first Microfinance database in March 2011 which the company claims is the world?s largest microfinance database with more than 80 million borrowers.

For Companies:

Commercial Score

Identification and Anti-Fraud services

Predictive Analytics & Scorecards

Additional Solutions:

Deduplication Platform

Business Rules and Decision Management

Collections Management

Loan Origination

External Data Connector

A good credit score can help you secure lower interest rates on loans and credit cards.

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