Credit Score on WhatsApp: How to Check Credit Score for Free on WhatsApp

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oi-Ajeeta Bhatia

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A good credit rating is extremely important these days. Any bank loan is approved or rejected based on credit rating. Therefore, in order to maintain confidence in one’s banking history, it is prudent to carry out regular CIBIL Score checks online. Despite the fact that many credit bureaus offer free online CIBIL score checks, getting a CIBIL score via WhatsApp seems to be the best option. Experian India, the first credit bureau in the country to be licensed under the Credit Reporting Companies (Regulation) Act 2005 has provided this service through which consumers can now easily check their Experian credit reports and monitor their credit portfolio. The initiative offers a fast, secure and convenient way to access your Experian credit file from anywhere and at any time. In this article, you will learn how to check your credit score for free on WhatsApp.

What is a credit score?

A credit score is a three-digit numerical summary of your entire credit history. Lenders use your credit score to determine your ability to repay loans. It is compiled from lender data and is included in the Credit Information Report, or CIR. Financial institutions consider your credit history and score when deciding whether to lend you money, how much, and at what interest rate. Credit rating agencies, such as Credit Information Bureau (India) Ltd, collect data and compile credit scores.

What are the benefits of checking your credit rating?

1. Aware of the impact of your actions on your credit score:

Regularly checking your credit score can help you monitor your financial actions. This way you will know if your actions are affecting or your credit score. If you know what can affect your credit score, you can avoid it and get better deals on personal loans, home loans, and other loans when you need them.

2.Make sure the information is correct:

A low credit score can sometimes be the result of an error or inaccuracy in your credit report. If this is the case, you should immediately report it to the appropriate credit bureau as well as your bank for correction.

3. Learn about credit card or loan offers:

If you know your latest credit score, you can find better credit card or loan deals in the market. A high credit score increases your creditworthiness and allows you to obtain additional credit on more favorable terms. In a nutshell, it gives you bargaining power when applying for a loan.

Credit Score on WhatsApp: How to Check Credit Score for Free on WhatsApp

How to check credit scores for free on WhatsApp?

  • Text ‘Hey’ to Experian India’s WhatsApp number +91-9920035444, or go to https://wa.me/message/LBKHANJQNOUKF1 or scan the barcode.
  • Share some basic information, such as your name, email address, and phone number.
  • Instantly receive your Experian credit score via WhatsApp. A password-protected copy of the Experian credit report can be requested and sent to the registered email address.

Article first published: Friday, November 11, 2022, 8:44 p.m. [IST]