How to Check the Credit / CIBIL Score in Paytm App – Mobile wallet app Paytm has launched this facility to verify CIBIL scores on its platform. This feature of the Paytm app will be free. Users can view their credit report in detail.
Credit reports for active credit card and loan accounts can now be viewed on the Paytm app.
This whole process can only be done in three steps and it will take less than 1 minute.
In addition to the credit report, you will get this information
In addition, the Paytm app also provides a special credit education section system for users, where a lot of information about their credit score is being given.
This report explains how the CIBIL score can be improved. What to keep in mind for taking and what are the benefits of a better credit score.
What is a credit score?
A CIBIL or credit score is a type of financial report card that has a 3 digit number ranging from 300 to 900 and shows the health of a person’s credit.
CIBIL scores reflect a better credit history and a more responsible repair attitude. It is easier to get a loan with a better credit score.
If a person has a good credit score, their approval is easily obtained and loan processing is completed quickly.
If a person has a credit score of 750 or higher, it becomes easier to get a loan. The credit score includes the credit history of the last 24 months.
On what basis is the credit score determined?
There are several important things to keep in mind when preparing for a credit score. For example, Credit Score has 30 percent shares to repay.
Secured or unsecured loans account for 25%. Secured loans include car loans or home loans.
Unsecured loans include personal loans etc. Credit exposure Credit score is 25 percent. However, credit use accounts for 20 percent of the credit score.
Let us know How to Check the Credit / CIBIL Score in Paytm App.
For this, you first need to login to the Paytm app. Next, tap the More icon on the home screen of the Paytm app.
After tapping on this icon you have to fill in the PAN card number and date of birth and submit. If you are a new user, an OTPO will be sent for profile verification.
After this verification process, you can easily see your credit / CIBIL score. You do not have to pay extra for this. Here, besides checking your credit score, you can also read a lot of important information related to it.
How to improve the CIBIL score?
There are a few things you must keep in mind for a good credit score. Like, don’t use the full limit of your credit card. Don’t take more loans than credit cards.
Don’t apply for too much. Give importance to home loans and auto loans.
Avoid personal taking. Avoid credit card closures. Review Joint Accounts. Continue reviewing CIBIL scores