Best Way To Monitor Your Credit Score For Free

Let’s begin with a better understanding of what a credit score is and how a good or bad credit score affects us. A good credit score makes it easier for you to acquire loans or credit cards. It means that you are capable of making timely repayments of money borrowed. Moreover, it helps in obtaining a lower rate of interest. A bad credit score shows your inability to maintain your finances, and thus the lenders do not trust you with their money and have doubts about the failure of repayment from your side. You need to regularly Check cibil score via the CIBIL score app for a good credit score.

To maintain a good score, you need to monitor your score regularly. Make sure you stay updated on your credits and accounts. While the credit score range is typically from 300 to 900, a good credit score usually begins with 650 or 700.

While this score may vary slightly depending on the lenders and institutions, it is more or less the same. This score can be easily checked via the CIBIL score app. 

Why Should a Credit Score be Regularly Monitored?

• By staying up-to-date on your credit scores, you avoid any chance of theft or fraud of your credit. 
• It provides the history of all your accounts and credits making it easier to track and check CIBIL score.
• You can easily track your card and its activities if it is stolen from you. It makes it easier to catch the thief.
• Alerting the respective authority sooner if anything goes wrong, so they can be a help in making things right.
• It prevents you from getting a low credit score which might further lead to complications for loan and credit card applications.

You can easily monitor your score and stay updated on credits by using the CIBIL score app.

Ways to Monitor Your Credit Scores Free of Cost

• While major credit bureaus like Highmark, Experian, and Equifax have benefits requiring you to pay a certain amount, you can also access some of their monitoring tools for free. These are beneficial platforms if you want to check your credit score on a fundamental level.
• Your respective banks and credit companies are sometimes entitled to provide you with a free credit score report once a year. You can also log in to your account to check your CIBIL score. It is made compulsory by the RBI to offer you an annual credit score check.
• Using sound and verified websites or apps like the CIBIL score app, Credit Karma, or Chase Credit Journey can be very helpful in monitoring credit scores.
• Make a point to monitor all your credit card statements regularly. This way, you can recognise quicker if there is any inconsistency or fraud on your credit. If you find any fault, ensure that immediate contact is made with the authorities and the issue is solved at the earliest.
• Keep all your passwords and the associated email IDs and contact numbers confidential. 

Conclusion

Monitoring credit scores are an essential part of one’s financial security. If you want to keep a basic score check, you can do it free of cost via the CIBIL score app. To protect your credit and secure all the financial benefits offered, you need to set up alerts, keep an eye out and regularly check your CIBIL score.