CIBIL Credit Report Checklist

Here are some factors to consider before applying for checking your credit report:

  • Are you aware about your credit history? Have you ever taken a loan or a credit card? Do you have outstanding debts? These are some questions you need to answer for yourself before applying for your credit report.
  • Have you not checked your credit report for many years? If yes, then you must do so immediately even if you have not defaulted in any repayments or have had a sound financial record in your knowledge. This step will ensure no fraudulent loan enquiries or identity theft was made during the time when you did not have your CIBIL report judged.
  • Did you make a soft enquiry into your credit score or report already just in recent times? Then, there is no need to make another enquiry again or frequently, until you suspect some off activity. Checking credit report too many a times can affect your credit report.
  • Hard enquiries made by lender or bank for your credit report may not always badly affect your credit report, until you apply for loans with multiple banks at the same time.
Dispute resolution process

You must read your CIBIL report to note mistakes. The best way to raise an online dispute is by accessing https://www.cibil.com/file-consumer-dispute/ where you can fill relevant information under section 'Under Dispute'. CIBIL will then contact the lender in question, and share the details. If the dispute is appreciated by the lender, the correction is done, and remark at 'Under Dispute Section' shall be removed.

It can take a month for resolving the issue. Keep in mind that non-genuine disputes must not be raised; otherwise it will hamper your credit report. You may check for any discrepancies in the report annually of once in 6 months.

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