Understanding Your Experian Credit Score

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Understanding Your Experian Credit Score

Experian is a globally recognised credit information company that has its operations in multiple countries. In India, it started its operation in 2010. It is the first credit information company that licensed by Credit Information Companies (Regulation) Act 2005 (CICRA 2005).

As per guidelines issued by the RBI and Credit Information Companies (Regulation) Act of 2005, Experian provides credit score and credit report to both consumers and lenders.

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What Is Experian Credit Score?

A credit score is a 3-digit number that shows how likely you are to get credit. Before a lender agrees to lend you money, they need to understand how likely you are to pay it back. To do this, they look at your credit score which is provided by a credit bureau like Experian. The credit score ranges from 300 to 900, 900 being the highest. The higher your credit score, the greater the chances of you getting approved for a loan.

Experian Credit Score Range

How Is Experian Credit Score Calculated?

Your Experian credit score is calculated after taking into consideration factors such as payment history, credit utilization, credit age, credit type, total credit accounts, etc. It is advisable to check your Experian credit score on your own before applying for a loan.The following factors affect your Experian credit score:

History of loan payments
Percentage of credit utilized
Age of credit history
Variety of credit history
No. of hard enquiries

History of loan payments
Percentage of credit utilized
Age of credit history
Variety of credit history
No. of hard enquiries

How to Check Experian Credit Score Online?

Step 1. Go to Experian official website.
Step 2. Enter your name as on your PAN card, mobile number, and email. An OTP will be sent to your mobile.
Step 3. You’ll be directed to another page where you’ll need to enter your date of birth, PAN card number, gender, and address. Tick the declaration box and click on the “Get Report” button.

Step 1. Go to Experian official website.
Step 2. Enter your name as on your PAN card, mobile number, and email. An OTP will be sent to your mobile.
Step 3. You’ll be directed to another page where you’ll need to enter your date of birth, PAN card number, gender, and address. Tick the declaration box and click on the “Get Report” button.

How Can I Improve My Experian Credit Score?

Follow these tips to improve your Experian credit score:

Make timely payments on your loans and credit cards.
Do not apply for multiple credit cards or loans within a short time.
Check your credit report and credit score regularly. If you see any errors or inaccuracies, immediately request a rectification.
Maintain a low credit utilisation ratio, preferably below 30%.

Follow these tips to improve your Experian credit score:

Make timely payments on your loans and credit cards.
Do not apply for multiple credit cards or loans within a short time.
Check your credit report and credit score regularly. If you see any errors or inaccuracies, immediately request a rectification.
Maintain a low credit utilisation ratio, preferably below 30%.

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You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

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Julen

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

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Experian Credit Score FAQs

What does an Experian credit score mean?

What does an Experian Credit Information Report mean?

How is Experian CIR beneficial to individuals?

How often is Experian CIR updated?

Is it important to check my Experian CIR regularly?

How is the Experian credit score different from credit scores provided by other credit bureaus?

If I take a loan from Lender A, will Lender B know that I have taken a loan from Lender A and will this information reflect on my credit report?

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CIN: U72200KA2015PTC083534
Address: G-405,4th Floor - Gamma Block, Sigma Soft Tech Park Varthur, Kodi Whitefield Post, Bangalore - 560066

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What are you waiting for?

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MWYN Tech Private Limited

CIN: U72200KA2015PTC083534
Address: G-405,4th Floor - Gamma Block, Sigma Soft Tech Park Varthur, Kodi Whitefield Post, Bangalore - 560066

Terms & Conditions

Make the Move

What are you waiting for?

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MWYN Tech Private Limited

CIN: U72200KA2015PTC083534
Address: G-405,4th Floor - Gamma Block, Sigma Soft Tech Park Varthur, Kodi Whitefield Post, Bangalore - 560066

Terms & Conditions

Understanding Your Experian Credit Score

Understanding Your Experian Credit Score

What Is Experian Credit Score?

Experian Credit Score Range

How Is Experian Credit Score Calculated?

How Is Experian Credit Score Calculated?

How to Check Experian Credit Score Online?

How to Check Experian Credit Score Online?

How Can I Improve My Experian Credit Score?

How Can I Improve My Experian Credit Score?

Someone like you is happy with Freo

Get the app for a seamless application process

With Freo’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.

Our journey so far

Different Ways to Use Freo Personal Loan

Marriage Loan

Travel Loan

Medical Loan

Education Loan

Used Car Loan

Two-Wheeler Loan

Mobile Loan

Home Renovation Loan

Consumer Durable Loan

Laptop Loan

Debt Consolidation Loan

Used Two-Wheeler Loan

Freo's Personal Loan isNow Available Across India

Experian Credit Score FAQs

What does an Experian credit score mean?

What does an Experian Credit Information Report mean?

How is Experian CIR beneficial to individuals?

How often is Experian CIR updated?

Is it important to check my Experian CIR regularly?

How is the Experian credit score different from credit scores provided by other credit bureaus?

If I take a loan from Lender A, will Lender B know that I have taken a loan from Lender A and will this information reflect on my credit report?

Freo's Personal Loan is
Now Available Across India