A Complete Guide to Check Your Credit Score Easily for Free

Your credit score is a vital financial indicator, influencing everything from loan approvals to interest rates. TransUnion, one of the major credit bureaus, provides a comprehensive credit scoring system used by lenders to access the creditworthiness of the borrowers. Checking your TransUnion credit score is essential for understanding your financial health and making informed decisions.  

8 Simple Steps to Check Your TransUnion CIBIL Score

You can check your credit score by visiting the TransUnion website. It charges you a nominal fee to view your score. Here are the simple steps to check your credit score using PAN card number: 

1. Access the TransUnion website.  
2. Click 'Get Free Score & Report’.  
3. Fill out the required fields with your name, email ID, and password. Attach a valid ID proof such as a PAN card. Then provide your PIN code, date of birth, and phone number. 
4. Click 'Accept and continue'. 
5. Enter the OTP you receive and click ‘Continue’. 
6. Select 'Go to dashboard' to log in and view your credit score. 
7. You will be redirected to another website called myscore.cibil.com. 
8. Click the 'Member Login' button to check your credit score. 

What is a Good Credit Score?

Having a credit score above 750 is generally considered to be a good credit score, although there may be slight variations in the definition and rating across different rating agencies. In India, there are four credit rating agencies, but CIBIL is the most commonly referenced credit bureau for credit scores and reports. Lenders tend to view borrowers with a good CIBIL score as the ideal candidates for lending. 

Read Also: Everything You Need to Know About Credit Score Range 

What are the Benefits of a Good Credit Score? 

Here are some benefits of maintaining a good credit score: 

• Having a good credit score can result in more competitive interest rates on a Home Loan, which can lower the overall cost of borrowing. 

• Those with strong credit scores have a higher chance of loan approval from lenders. 

• A good credit score may lead to approval for sizeable loan amounts, which can be useful for purchasing a more valuable property. 

• Borrowers with good credit have improved negotiating power and can negotiate better terms and conditions with lenders. 

3 Ways to Maintain a Good CIBIL Score

Improving and maintaining a good credit score may take some time. Here are some best practices when it comes to maintaining a good credit score: 

1. Ensure a Good Credit Mix  

​​​​It's important to maintain a strong credit score by having a diverse range of credit accounts. This implies having various sorts of credit, which aids in balancing the risk and can lead to an improved credit score. Lenders are not troubled by having a healthy mix of credit, and it prevents the applicant from being viewed as a high-risk borrower. 

2. Make Timely Repayments

Setting up reminders is one effective way to ensure timely payment of your debts. Even if you have missed payments, you can still monitor them. It is advisable not to default on payments if you have an existing loan or dues, as it may adversely affect your impression. 

3. Avoid Multiple Hard Enquiries 

When you apply for multiple loans simultaneously, it may give lenders the impression that you are too credit-hungry. This can lead to concerns on the part of the lender. Each time you apply for a loan, the lender will check your credit score. This inquiry is known as a hard inquiry, which may lead to a drop in the credit score. Therefore, it is advisable to apply for new loans only when you need them. 

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Read Also: What is a Good CIBIL Score for a Home Loan