Credit score and Report- frequently asked questions
Credit Score
What is a CRIF credit score?
CRIF Score (Score ranges from 300 to 900) is a 3-digit numeric summary of your credit history, derived by using Loan details on your CRIF Report
The closer your score is to 900, the higher are the chances of your loan application to get approved
Why is my credit score decreasing?
The major factors considered, but not limited to for score calculation are as below:
- Delay in payment in loan accounts.
- New Loan Account(s) in last 6 months.
- New Delinquent Loan Account(s) in last 6 months.
- Utilization ratio in revolving credit types.
- Types of loan availed.
How can I improve my Score?
You can improve your Credit Score by maintaining a good credit history, which is essential for loan approvals by financial institutions. Below are the steps which will help you to improve your score:
- Always pay your dues on time
- Keep your balances low
- Maintain a healthy credit mix
- Monitor your co-signed, guaranteed, and joint accounts regularly
- Review your credit history frequently throughout the year
Why my credit score is between 11-18?
Scores between 11- 18 are exclusion codes
You need to check the description tab in the report for more information and exact reason. If you find any discrepancy, please reach out to us on 2040562001/02/03/04/05/06/07/08.
(Support Hours: 09:00 am to 07:00 pm, Monday to Friday)
Why do I see a different score in Cibil, Experian or Equifax?
Every CIC has its proprietary algorithm involving different parameters to generate score depending on the factors set by them.
Payment Issue
What if the payment gets debited twice for the credit report requested once?
Duplicate payment debited shall get auto reversed to your bank within 2-3 days. If it is not the case, kindly reach out to us on 2040562001/02/03/04/05/06/07/08. (Support Hours: 09:00 am to 07:00 pm, Monday to Friday)
I need refund as I have not received the credit report. How do I raise a request? Please reach out to us on 2040562001/02/03/04/05/06/07/08. (Support Hours: 09:00 am to 07:00 pm, Monday to Friday)
Incorrect Linkages
I am not aware about some accounts reflecting under my name in credit report. Can it be removed?
If you see any information on the credit report which is incorrect or does not belong on your report, you can Raise a Grievance and we can Liaise with the financial institution reporting such data in order to make the corrections, if required. Raise a Grievance
Why are my family member account details showing in my credit report?
Your IDs or Phone number might have been used for their account hence their account got linked to your report
If you want such account(s) to be removed, please Raise a Grievance
Incorrect or Missing Information
Why doesn’t Bureau change the data when customer submits NOC given by bank rather than raising to Financial Institution?
As a bureau we are not authorised to change any information on the report as we operate on the data submitted by the financial institution
Why do I see 2 PANs against my account, Phone number or any other variation in my credit report?
As a bureau we are dependent on the data submitted by the bank, hence if you see multiple demographic details, request you to check with your financial institution
I have closed all my accounts on time with my financial institution and have NOC. Why is it still showing as outstanding on my credit report?
Have you closed this account recently in 30-45 days?
Usually, it takes 30-45 days for the financial institution to submit the data to bureau, request you to wait till 45 days and generate a fresh report and if the issue persists you may raise a dispute
Why is my account not been updated for more than 60 days?
Have you checked this information in the report generated within last 30 days?
Usually, data gets updated on periodic basis which usually takes 45-60 days to update. If it has been more than 60 days, please raise a dispute
Why is my Account not reflecting in credit report?
If this account has been disbursed recently this shall get updated in 45-60 days as financial institution submits the data on periodic basis
By any chance if the account has been disbursed before 60 days or more you may raise a dispute
Why is same account reflecting twice in credit report?
Have you checked if the unique account number is same for both accounts?
If the account numbers are not similar, then possibly these accounts are two different accounts
By any chance the account numbers are similar you may raise a dispute
Why is my Account status is showing as Written-off/Settled/Suit filed/Restructured/wilful even though it has been closed?
If you have recently made the payment or closed the account this shall get updated in next data submission cycle
If this has been completed more than 60 days ago, you may raise a dispute
Why is my account showing incorrect delay payment when I have done the payment on time?
We are the custodians of the data which is reported by the financial institutions to bureau, and we do not have any authority to make any changes to the data reported by the Financial Institution. By any chance if you have not missed any payment and you have NOC from respective financial institute you may raise a dispute