Now, Get Your Credit Score Free Of Cost On WhatsApp

Over the past couple of years, credit information companies or credit bureaus operational in India—TransUnion Cibil, Equifax Credit Information Services Pvt. Ltd, Experian Credit Information Co. of India Pvt. Ltd and CRIF High Mark Credit Information Services Pvt. Ltd— have tied up with several fintech companies to provide customers credit scores, credit reports as well as monthly updates, on request. Fintech startup Wishfin has gone a step ahead and partnered with Transunion Cibil to provide credit scores through WhatsApp.

A credit score is based on your credit history, like repayment of EMIs and credit card dues. A good credit score can boost your bargaining power when you go for a loan, especially big-ticket loans like a home loan. Some banks even offer lower rates to individuals with high scores. How to get credit score on WhatsApp,

Following this, you will get a WhatsApp message from a verified business account “Wishfin CIBIL Score”. You are required to follow the instructions and share your name, date of birth, gender, address, permanent account number or PAN and email. Mint tried the service, and got the credit score instantly. To get a detailed report, however, you need to log in to Wishfin’s website.

You can get your report, and 12 monthly updates free of cost as of now. How to get credit reports from other channels, From credit bureaus: The Reserve Bank of India has mandated credit bureaus operational in India to provide one free full credit report in a year to every individual who requests for it.

This will contain all the details that will be reflected in a report that a bank would get when you request for a fresh loan. You can access these reports through the websites of credit bureaus. From fintech platforms: Fintech companies have tie-ups with credit bureaus to provide reports, mostly free of cost. In return, they get consumer data they use to cross-market products. Some fintech platforms also ask for details like salary and current employer.

If a merchant retrieves your credit history from all three credit score bureaus then it is called a tri- merge report. That's as a result of your information from all three fico score bureaus being retrieved from each credit reporting agency then merged into a single report for a creditor to study. Additionally they'll be provided with your fico score from each of the credit reporting bureaus. Each credit reporting agency (TransUnion, Experian, Equifax) has their own scoring algorithm. In addition, creditors might not report your credit history to every one of the three credit reporting companies.

Consequently, you will find that you have a unique fico reported from Experian, Equifax and TransUnion. This is because they're working with different data that is known to them concerning your credit history and because of their distinct scoring algorithm that's applied to calculate the fico score. If you apply for a mortgage loan to purchase a property then a tri-merge credit report will be retrieved by the home loan company to decide if they will give authorization for your house loan.

Consequently, if you want to really know what is being entirely reported regarding you in your credit history then you need to retrieve a tri-merge report and check all of the details in addition to all 3 of your scores. This will give you a good analysis of your entire credit history. A few years ago the government FACT Act gave everyone the right to get a free copy of their credit report once annually from each of the credit reporting agencies. While this is not a tri-merge credit report where the data is merged together into one credit report for you it will have the same data; you will just have that data in three separate reports.

Building your credit up from scratch or trying to recover from a few screwups that made your score drop takes time. Making on-time payments on your loans and credit cards are a good way to do that, but your credit score doesn’t take into account one big bill you probably pay every month: your rent.

Pinch is a service that reports your on-time rent payments to credit bureaus. Presuming rent is something you’re always paying on time, that can help you increase your credit score over time. You actually have hundreds of scores! The way it works is simple: When you download the app you’ll be prompted to upload a copy of your lease agreement and connect your bank account.

When you write your landlord that check every month, you snap a picture of it with the app. When the check you photographed clears your bank account, Pinch reports it as a paid bill (similar to an Installment Loan) to credit bureaus, specifically Experian, TransUnion, and Equifax. The service is free to use and doesn’t require you to even tell your landlord, much less have him or her be involved in the verification process. According to Pinch 75% of the people that use its service see a credit increase. My guess is if you already have excellent credit it’s not going to really move the needle. However, if your credit is sagging it could be just what you need to give it a little lift.

For many people, the idea of reviewing their credit report can be intimidating. In fact, almost a quarter of U.S. Millions of others have seen their credit reports but not taken the time to make certain their information is accurate. Mistakes in a credit report can affect all aspects of life, from interest rates to employment opportunities. Understanding your credit report, and making sure it's accurate, is important for more than just your financial health.

A great place to start is right here, where you can see your free credit Report Card and score without paying a dime! Your credit report is a detailed record of how you pay your bills, debts and other financial obligations. It reflects how much credit and debt you have, how many times you've shopped for credit, your employment status, bank account information and many other financial details about your life. Simply put, it is a detailed record of your credit history and worthiness.