CIBIL Score Via PAN Card: In today’s digital age, having a good credit score is crucial for financial stability, whether you’re applying for a loan, a credit card, or simply managing your financial health. One of the easiest ways to check your creditworthiness is through your CIBIL score. While many platforms require an OTP for authentication, did you know it’s possible to check your CIBIL score using just your PAN card without the need for an OTP?
What Is CIBIL Score?
It is a three-digit number that represents your creditworthiness, ranging from 300 to 900. The higher your score, the greater your chances of securing credit cards or loans on favorable terms, and the more likely you are to have a clean credit history. Financial institutions use this score to assess the reliability of your loan repayment.
Does Updating Your PAN Card Affect Your CIBIL Score?
To maintain clear financial records, it’s advisable to stick to a single PAN. If you lose your PAN card, applying for a duplicate won’t impact your CIBIL score, as your original PAN number remains linked to your credit history. Adding further, if you apply for a second PAN card it will disrupt your credit history as all financial transactions are tied to your PAN.
How To Check Your CIBIL Score Using Your PAN Card Without OTP
Step 1: Visit a reliable website to check your credit score.
Step 2: Enter your PAN number.
Step 3: Provide your date of birth, phone number, and email address.
Step 4: Opt to receive updates via WhatsApp.
Step 5: Click on “Get Free Credit Score” to view your score.
How To Identify Good, Fair And Bad Credit Score
Your CIBIL score reflects your creditworthiness. Scores above 800 are excellent, 750-800 are good, 700-750 are fair, and 650-700 are poor. Excellent and good scores enhance loan approval chances, while fair scores may require improvement. Poor scores indicate financial struggles, leading to loan denials or higher interest rates.
How To Improve Your CIBIL Score Quickly
Pay Bills on Time: Ensure timely payment of loans, EMIs, and credit card dues to avoid late payment penalties, which can hurt your score.
Reduce Credit Utilization: Aim to use less than 30% of your credit card limit to show responsible credit usage.
Clear Outstanding Debts: Pay off outstanding balances on loans or credit cards to improve your score.
Check Your CIBIL Report: Regularly monitor your CIBIL report for errors or discrepancies and get them corrected.
Avoid Multiple Credit Applications: Too many inquiries in a short period can negatively impact your score. Apply only when necessary.
Maintain a Healthy Credit Mix: A balanced mix of secured and unsecured credit can improve your score.
Keep Old Accounts Open: Length of credit history matters, so keep your older credit card accounts active.
