It is imperative to have a good credit score at the time of availing of home and personal loans at cheaper rates. A credit score is a three-digit number that indicates whether you are paying your bills on time. The score is used by lenders to determine your ability to repay loans.
The score is compiled from lender data and included in the Credit Information Report, or CIR. Financial institutions check your credit history and score at the time of disbursing a loan and also help in determining how much, and at what interest rate. Credit rating agencies, such as Credit Information Bureau (India) Ltd, collect data and compile credit scores.
There are several credit reporting agencies that provide free CIBIL score checks online, but getting obtaining a CIBIL score via WhatsApp can be one of the best options.
Last month, Experian announced a service that allows customers to check their credit scores on WhatsApp for free, reported the Financial Express. Experian India is the first credit bureau to be licensed in India under the Credit Information Companies (Regulation) Act 2005.
Last month the company said the initiative introduces a quick, secure, and convenient way to access one’s Experian credit report anywhere, anytime. Consumers can check their Experian credit report, track any irregularities, detect fraud immediately and rebuild their credit score, enabling them to gain control of their credit profile, the company said.
Know steps to check Experian Credit Score on WhatsApp
- Firstly, you need to send ‘Hey’ to Experian India’s WhatsApp number +91-9920035444
- Then share basic details including name, e-mail ID, and phone number
- Receive your Experian credit score via WhatsApp instantly
- Request a password-protected copy of the Experian credit report which will be sent to your registered e-mail ID