Learn about the key distinctions between credit and CIBIL score

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Learn about the key distinctions between credit
and CIBIL score
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What does a credit score mean?
It is a 3-digit numerical expression ranging from
300 to 900.
It informs the lender of your credit behaviour.
Credit scores vary between credit rating agencies.
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What does the CIBIL score mean?
It, like a credit score, provides information
about your credit behaviour.
CIBIL score is prepared by TransUnion CIBIL
Limited.
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What does the CIBIL report mean?
The CIBIL report includes information on current
debts, personal details, and so on.
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How does your CIBIL score is determined?
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Previous debt repayment record
Previous debt defaults or missed EMIs lower your
credit score.
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Credit utilisation rate
If you use more than 30 of your revolving debt,
your CIBIL score will suffer.
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Hard enquiries
Multiple credit applications result in several
hard inquiries.
It worsens your CIBIL score.
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Total approved and applied debts
Any unapproved debts in the past will hurt your
CIBIL score.
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Credit mix
Having a debt portfolio mix of unsecured and
secured loans improves your CIBIL score.
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Length of credit
Debt with a longer repayment term and EMIs paid
on time raises your CIBIL score.
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Both CIBIL and credit score serve the same
purpose, with the only difference in the credit
rating agency that determines these scores.
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Know More A Brief Overview of The Difference
Between Credit Score And CIBIL Score