Experian credit view gives your Experian credit score— a numerical summary based on your current or prior loans, credit card repayment history, and the hard inquiries carried out by financial institutions and banks based on your loan application. Therefore, the Experian credit report contains crucial information about your financial record.
What is Experian Credit Score?
Different credit bureaus give your credit score. Some of the popular ones are CIBIL and Experian. Therefore, Experian– a popular Credit Information Company approved by the Securities and Exchange Board of India (SEBI), provides credit information services in addition to detailed financial analysis reports. The Experian credit view helps individuals and organisations make informed decisions. Being in the industry for over 125 years, Experian has a strong reputation. The Experian credit score reveals a numeric outline of your credit data report. The score ranges between 300 and 900. The higher the value, the more noteworthy your possibility of being supported for financial assistance.
Experian vs CIBIL: What is the Key Difference?
Experian and CIBIL are reputable credit bureaus in the Indian financial market. They have distinct algorithms to calculate credit scores. However, CIBIL is more widely considered by financial institutions and banks for its business credit scores. Top lending companies are expected to check your CIBIL score before the Experian credit view. Therefore, staying updated and upholding your best financial behaviour helps you land the best deals on credit products.
What does an Experian Credit Report Contain?
Checking your credit history does not affect your score. Your Experian credit view displays the following details:
- Your loans and repayment history.
- Your credit score. Lenders can access it to decide on loan approvals.
- All details of loan inquiries and credit card repayments. So, if you detect fraud or suspicious loan enquiries in your credit report, you can report them immediately.
How to Check Your Experian Credit Report Online?
You can obtain your Experian credit view report online. You must fill out an online form to confirm and answer the inquiries. You will be expected to provide the following details:
- Full Name as per PAN card
- Email Address
- Mobile Number
- OTP Sent On Your Mobile
- PAN card number
You will also have to give information about your credit/advance accounts and charge cards. Once you complete the compulsory advances, your Experian report will be displayed on the screen. Moreover, a duplicate of the Experian credit view report will be sent as an email.
Once you get your free credit information report and score, you can also take the help of Experian consumer services to address your queries /disputes on your credit report.
How To Improve Your Experian Credit Score?
Usually, you require an Experian credit score of 700 -900 for loan approvals. If you find your score to be low, stick to the below-mentioned tips to improve your financial assessment:
Pay off your advance EMIs and charge card contributions
It is best to strike a low credit utilisation ratio. Ideally, financial experts suggest that you must try to limit your use to 30% of the absolute credit limit.
Keep your old accounts
You must also try to keep your old acknowledged accounts. They assist in building a strong loan repayment record.
Scan your Experian credit view for errors
Assuming that you find any discrepancies in your credit report, inform the credit authority right away. Get the errors rectified as soon as possible to improve your credit score.
Refrain from placing multiple requests
Try not to place different card applications within a short span. It reflects your credit hunger and utter need, declining your financial soundness. Often smart lenders try to take advantage of your situation and lure you into higher interest rate deals.
Experian is one of the notable credit data administration organisations that offer various business apparatuses to their clients worldwide. You can check your Experian credit view and adopt measures for improving your score if it is below 700. Maintain a good credit score and boost your chances of getting a loan with lower interest rates.