Check Free CIBIL Score & Report on Gpay App

Are you aware of how important your credit score is? It’s a crucial aspect of your financial health that can open up a world of opportunities for you, from securing loans to renting an apartment. And that’s why it’s vital to keep a regular check on your credit report.

If you’re wondering how to check your credit score or CIBIL score, you can simply head over to the official website of CIBIL, where you can get your credit report for free. But, if you’re looking for a more detailed analysis, you can choose from one of their premium plans, starting from Rs. 550/-.

But here’s the exciting part: did you know that you can check your credit score for free using the Google Pay app? Yes, you heard that right! And in this article, we’ll take you through the step-by-step process to get your credit score analyzed in detail without spending a penny. So, make sure to read till the end!

Want to know how to check your credit report for free and get a detailed analysis of your credit score? Well, here’s some good news for you! With the help of the Google Pay app, you can check your credit score for free in just a few easy steps.

How to Check CIBIL Score Free on Google Pay

First things first, if you haven’t downloaded the Google Pay app yet, make sure to download it from your app store. And if you already have it, just make sure to update it to the latest version. Once you’re all set, follow the steps given below to check your credit report without any obstacles.

Step 1: Open the Google Pay app. Login to your account using your credentials. 

Step 2: Scroll down and click on the ‘Check your CIBIL score for free’ option. 

Step 3: Click on the ‘Let’s Check’ option. 

Step 4: Enter your first and last name. Your mobile number will be auto-filled from your Google Pay account. 

Step 5: Accept the terms and conditions and click on the ‘Continue’ button. 

Step 6: Within a few seconds, your credit report will appear on the screen. 

To view your detailed CIBIL report along with Google’s recommendation, click on the ‘See Full Report’ button.

But wait, there’s more! Not only does Google Pay provide you with a detailed credit report, but it also breaks down the factors that affect your credit score.

How to Read & Analyze Google Pay CIBIL Report

Let’s dive deep and take a look at these factors one by one:

Payment History

The first factor that affects your credit score is your payment history. Payment history is one of the most important things when it comes to your credit score but many people ignore it. You have to remember the fact that one single missed payment can affect your credit history. So try never to miss any single payment as it can have an extremely bad impression. This becomes super important as the lenders and the financial institutions need assurance that you will make payments on time but this missed payment can drop your credit score and in turn have a bad impression. So from now on never ignore payments, and also make sure to make all your payments from time to time. 

Credit Usage

The second factor that affects your credit score is Credit usage. Credit usage is represented by the ‘Credit Utilisation ratio’. Let us understand how exactly is this credit utilization ratio calculated. So the credit utilization ratio is calculated by dividing your total current credit by your total credit limit. This shows how much credit you utilize and you have to remember that using 30% of your credit is a negative sign. So always make sure that it is below 30 percent. 

Credit Mix

Another important factor is the credit mix. When you observe people with high credit scores they usually have car loans, student loans, mortgages, or any other credit products. This depends on how well you manage all of your mortgages and make the payments on time. So always make sure that you never miss or skip a payment. 

New Inquiries

When it comes to new inquiries you always have to remember the fact that too many accounts or inquiries can come across as a minor risk. And this affects your credit score in a negative way. So always make sure that you don’t have too many credit accounts and inquiries. 

Credit Cards & Loans

You will also get to see the loans you have taken and also the credit cards that you own. You will also get to see the expiry date of your credit cards as well. Not just this, but you will also get to see the loans and credit cards that have been closed. When it comes to credit score having a credit score of 790+ is considered to be an excellent score.

How to Read a Credit Report

Let’s also see what other credit scores mean. The credit score ranges from 300 to 900. 

• A credit score of 681 and below 681 is considered to be below average and if you have a credit score below 681 then you definitely should work on it and boost your credit score. 
• A credit score from 681 to 730 is considered to be an average credit score. 
• A credit score of 731 to 770 is considered to be Fair. 
• A credit score of 771 to 790 is considered to be good which is a decent credit score to have. 
• An excellent credit score is considered to be above 790 and it is the best credit score to have. 

So this is how you can interpret your credit score. Also, we all are aware of the benefits of credit scores. So if your current credit score is low then please take steps to work on your credit score as it is one of the most important things. 

So this is how you can easily get a fully analyzed and detailed credit report for free with the help of the Google pay app. Make sure that you follow all the steps given above and you will be able to check your credit score for free.