Easy Steps to Check CIBIL Score by PAN Card

The TransUnion Credit Information Bureau (India) Limited (CIBIL) is one of the four credit information companies licensed by the Reserve Bank of India. The CIBIL score is a three-digit number ranging from 300 to 900 that summarises your credit history, rating, and report.

Lenders consider the CIBIL score one of the primary factors in making credit decisions. A good CIBIL score builds the right impression and increases your chances of getting approved for loans or credit cards.

While there are many ways to check your CIBIL score, one is by a using PAN card. The steps to check CIBIL score by PAN card are much easier. In this blog, we’ll walk you through a simple step-by-step process that will provide a clear picture of your credit rating and help determine your eligibility for a personal loan.

What is a good CIBIL score?

A good CIBIL score range is between 300 and 900. A score of 300 or below 700 indicates poor credit, making it challenging to secure a loan.

On the other hand, a score of 750 or higher indicates a good credit history, which makes individuals eligible for credit. Below is the CIBIL score range against its ratings to help you understand your credit stability.

What is the importance of a PAN card for a credit report?

The government assigns every taxpayer in India a Permanent Account Number (PAN) card. This crucial document links directly to an individual’s financial and banking accounts. The PAN system enables credit bureaus and financial institutions to assess and evaluate an individual’s financial stability for repayment when lending credit.

Also read: PAN 2.0 benefits for taxpayers

Steps to check CIBIL score by PAN card

To check your CIBIL score using your PAN card, follow the steps mentioned below:

1. Start by visiting the official CIBIL website.
2. Click on ‘Get Your Free CIBIL Score’.
3. Sign up by filling in the required fields, including your name, DOB, email ID, and gender.
4. Enter your PAN details as your identification type.
5. Complete the captcha verification code and tick the box to agree to the ‘Terms and Conditions’.
6. Finally, click on ‘Accept and Continue’ to proceed.

Frequently Asked Questions

1. What is the best CIBIL score?

   While the CIBIL score range is between 300 and 900, the best range is 750 and above. A good score increases the creditworthiness of the borrower and helps secure credit services at favourable terms.

2. Can you check your CIBIL score for free?

   You can check your CIBIL score free of cost once a year at TransUnion CIBIL’s official website. Additionally, you can also use your PAN card as a quick and convenient way to check your CIBIL score.

3. Is it possible to check the CIBIL score with PAN 2.0?

   PAN 2.0 builds on the original PAN and introduces updates like a QR code. Thus, users can check their CIBIL scores from the official CIBIL website or another website licensed by the RBI.

4. Does a newly issued PAN card have a CIBIL score?

   A newly issued PAN card has no CIBIL score and is marked as ‘New to Credit’. When an individual applies for a loan, credit bureaus measure creditworthiness by verifying other parameters.

5. Does updating my PAN card impact my CIBIL score?

   Issuing a duplicate PAN card in case of misplacement will not affect your credit score. The 10-digit number on your reprinted card will remain the same as your original card. It’s a convenient solution to replace a lost or damaged card without any impact on your financial standing.

Your PAN card is more than just an identification card. It is a key document for analysing an individual’s financial and legal transactions. The 10-digit number can track and connect all your monetary activities, making it essential for maintaining a good CIBIL score.

It doesn’t matter if you’ve only borrowed once or are new to credit; reviewing it with your PAN number can make a big difference. For example, when you require a personal loan or business loan, easy access to your CIBIL score and valid documents like PAN card, hand-in-hand can make the credit experience seamless and hassle-free.