The CIBIL Score is a three-digit number between 300 and 900 that all lenders check before approving a loan application from a borrower. They check the CIBIL score as it gives borrowers an idea about the loan applicant’s creditworthiness and repayment capacity. The CIBIL history is calculated based on five factors: repayment history, credit utilization ratio, age of credit history, credit mix and dependency on credit. 300 is the lowest CIBIL score a borrower can have and 900 is the highest. To be eligible for most loans in India, a borrower must have a CIBIL score of 750 or above. Having such a CIBIL score not only guarantees quick loan approval but also allows borrowers to have high negotiating power in terms of loan interest rates, loan tenor and the rate of interest being offered. Borrowers applying for a loan of any kind must check their CIBIL score and move ahead with their loan application only if their CIBIL score is at least 750. 

Here, we look at how borrowers can check their CIBIL score using their PAN card details. 

1. Go to TransUnion CIBIL’s official website and select the ‘Get Your Credit Score’ option that you will see on the right side of your screen. 

2. Next, you will be asked to enter your name, email ID and password. 

3. After this, you will be asked to attach an ID proof, such as your passport or your PAN card or your Aadhar. 

4. Next, when prompted, enter your PIN code, date of birth and phone number. 

5. Select the option ‘Accept and Continue’. 

6. Once you do this, you will receive an OTP on your phone number. Enter this OTP in the box you see on your screen and click on ‘Continue’. 

7. After this, select the option ‘Go to Dashboard’ and then ‘Check Your Credit Score’.

8. Once you do this, you will be taken to the website mysore.cibil.com. 

9. Then, select the option ‘Member Login’ and once you log in, you will be able to see your CIBIL score.

Why Does One Need Their PAN Card Details to Check Their CIBIL Score? 

In India, almost everyone has a PAN card. The PAN card is a document that allows finance companies, banks and lenders as well as credit information bureaus to identify an individual with their unique PAN card number. Since credit card companies maintain information on millions of individuals, using one’s PAN card details allows credit information bureaus to match the right person with the right profile. Thus, a PAN card removes the chances of errors in locating an individual’s credit profile and therefore, their credit score. 
However, if you do not have your PAN card, do not worry. One can check their CIBIL score with the help of a passport, voter ID or even driver’s license. Please also keep in mind that one can check CIBIL score for free with the help of their PAN card. However, to be able to check one’s credit report, one must pay a fee to TransUnion CIBIL. This fee varies based on how often an individual wants their CIBIL report to be sent to them.