In today’s age of instant loans and BNPL(Buy Now Pay Later) schemes, there is an urgent need for instant access to CIBIL scores and CIBIL reports. Doing so is easy as there are numerous ways to go about it. In addition to using UPI apps to check CIBIL scores, one can access CIBIL scores/reports with PAN card details. This article will shed light on conducting a CIBIL score check online by PAN card free of cost.

The Importance of PAN Card

PAN is the Indian government’s way of identifying tax payers and saving their tax information in one place. The Permanent Account Number helps the government consolidate all citizens’ tax information. Once you link your PAN to your credit account, you can access your credit profile using your PAN details.

Why PAN Card for CIBIL Check?

PAN card is essential to the credit card application system. Banks can view your financial history with your PAN information. Once your credit card is issued, all your credit information is also linked to your PAN. All credit transactions are linked to your PAN number. In this way, you gain instant access to your CIBIL score just by entering your PAN and a little more information. Let’s take a look at the procedure for checking your CIBIL score using PAN.

How To Access CIBIL Score/Report with PAN Card information?

With the advent of digital payment methods and more and more banks adopting electronic banking, access to CIBIL scores has become easy. There are several ways to check your CIBIL score and report. PAN card being a unique indicator of your finances, can also be used to check CIBIL score. The process is simple.

  1. Visit the TransUnion CIBIL website.
  2. Create an account if you are new to the website and log in if you are a returning candidate.
  3. Those who are new to the website can only sign up after paying a small amount. The different subscription caps are displayed on the home page.
  4. Once logged in, navigate to the ‘Products and Services’ tab on the home screen.
  5. Select ‘CIBIL score and Report’ under the ‘Individuals’ section from the drop-down menu.
  6. Enter your details like Name, Date of Birth, and e-mail address. Ensure that these details match with those on your PAN card.
  7. Enter your PAN accurately in the next dialog box. This is an important step as the details entered will be used to link your credit profile.
  8. Complete the verification process.
  9. Your CIBIL score and report will be available on the next page.

Other than the TransUnion CIBIL website, banks and other financial websites allow you to check CIBIL score free by PAN card. A few prominent sites are SBI, BankBazaar, PaisaBazaar. Now that you know how to conduct a CIBIL score check with PAN card free of cost, let’s quickly look at a few best practices to maintain good CIBIL score.

How to Maintain a Good CIBIL Score?

Check your score: It is a myth that constantly checking your CIBIL score may cause a downfall in your score. This is true only if banks and other financial institutions check it frequently. Checking your CIBIL score helps you to stay on top of your credit transactions and plan for upcoming financial milestones.

Pay Your Credit Card Bills in Time: Regular repayment of credit card bills indicates your creditworthiness to banks. By doing so, your chances of being eligible for loans get better.

Check for outstanding payment: Your CIBIL score comes with a detailed report of your credit profile. The credit report includes the details of your previous payments and alerts you about any unpaid dues. 

Avoid maxing your credit card: Maxed-out cards can affect your credit score adversely. Set a personal limit on credit card spending. This ensures that you avoid maxing out your credit card which in turn helps improve CIBIL score.

Conclusion

The advent of technology has managed to bring banking to our fingertips. One of the best things to come out of this is the ease with which we get to access reports with a single tap. It is important to check CIBIL report by PAN card to ensure optimum financial health. It is now possible to check CIBIL report by PAN card free of cost on certain websites while others charge a nominal sum of money for the same. Nonetheless, doing this exercise will help you in the long run.

FAQs

What is PAN? Why is it important?

Permanent Account Number is a unique identification number that helps the government track financial malpractices in a streamlined manner. Upon applying, Indian citizens can avail a PAN card which can be used in the future to access important financial information.

Can I use multiple PAN cards?

It is an offence to own multiple PAN cards as per the Income Tax Department of India.  

What is CIBIL Score? 

CIBIL score is a three digit number that indicates your credit profile’s health.

What are the different ways to check CIBIL scores?

There are multiple ways to do so, you can check the CIBIL score with PAN card free of cost on the different financial websites. Similarly, free CIBIL score is available on UPI apps

How to ensure a good CIBIL score?

Educate yourself about CIBIL score and CIBIL reports before beginning to use a credit card. This will help you to spend mindfully, and take the necessary steps to ensure a great looking report.

Author

Write A Comment