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Check Your Free Experian Credit Score

  • How to Apply for Credit Score

    Equifax is one of the popular credit information bureaus in India that offer a credit score. An Equifax credit score is a 3-digit number between 300 to 900 which is associated to each person. It represents credit worthiness of an individual. A higher credit score suggests an individual has a good repayment capacity. Lenders find it easier to make an informed decision by taking a look at an individual’s credit score.

    Cost of Equifax Credit Score/ Credit Report

    To get an Equifax credit report an individual will have to pay a sum of Rs.138. However, in order to receive a credit score, he/she will also have to take the credit report. The cost of a credit score and credit report together is Rs. 400. At present, the payment has to be made through a Demand Draft (DD), which must be issued in favour of “Equifax Credit Information Services Pvt. Ltd., Mumbai.” The DD must be crossed and have the account payee, a valid date, and payable in Mumbai. It is required that you mention your name and phone number on the back of the demand draft. Currently, payment for credit report and credit score cannot be made in any other mode.

    How to apply for Equifax Credit score?

    An individual will have to take the credit report if he/she wants to receive the credit score as well. In order to get the credit score, a person has to:

    Step 1: Fill the Know your Customer (KYC) request form

    Step 2: Attach self-attested copy of identity proof and address proof

    Step 3: Pay the sum of Rs.400

    Step 4: Send the KYC form and documents to Equifax via courier, post or speed post

    You can submit any one of the following documents:

    Self-attested identity proof copies (Any One):

    • Voter’s ID card
    • Aadhar ID card
    • Driving licence
    • Passport copy
    • PAN ID card

    Address proof (anyone):

    • Electricity bill
    • Landline or mobile phone bill
    • Credit card statement or bank statement
    • Gas utility bill
    • Ration card
    • Driving license
    • Rent agreement

    Free Equifax Credit Report/ Credit Report

    Individuals who are not looking forward to spending money on their Equifax Credit score can choose to contact online platforms. These platforms have joined hands with Equifax to offer free Credit Scores. This will help a large number of people to check their credit worthiness and apply for a loan or a credit card thereby saving some money.

    What affects Equifax Credit Score?

    There are a total of 600 different variables that affect the Equifax credit score. Here are some of the top variables:

    • Past credit repayment history
    • Credit usability of present
    • Number of credit cards that one holds
    • Number of secured loans one has
    • Number of unsecured loans one has
    • Demographic variables
    • Income of the person
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