Be 'Credit Smart' with a free annual CIBIL score and report

TransUnion CIBIL, India's leading credit information company, is now offering a free annual CIBIL score and report for consumers to get them on the path to good financial health. The new offering provides consumers an easy way to start the process of taking a holistic look at their total financial picture.

Commenting on this initiative, Hrushi Mehta - VP and Head - Consumer Interactive, TransUnion CIBIL said, "We are pleased to provide this new offering, which gives all consumers online access to their CIBIL score and report in a few minutes from any computer or mobile phone. We are confident this new offering will make it easier for consumers to achieve and maintain their financial goals."

Consumers can also take advantage of CIBIL's Subscription services to access their CIBIL score and report more frequently. CIBIL Subscription offers consumers discounted rates for credit scores and reports when they buy two or four at once, making it easy to check their credit more often, which is vital to managing ones' finances. With CIBIL's Subscription, consumers also get access to other CIBIL Services that are customized based on personal information found in their report ultimately saving both time and money. These services include personalized Loan Offers, Credit Monitoring and user friendly Dispute Assistance with an option to submit remarks for the disputed account to the bank.

"A credit score is a vital component of one's financial wellbeing and can be important in achieving one's financial goals, such as buying a house, managing unpredictable medical emergencies, paying for a child's education and even getting a job." said Mehta.

"But achieving and maintaining good credit health requires vigilance. We are proud to offer a free score and report that will help Indian consumers take the first step to understanding and managing their credit and additional products to access, build and maintain good credit."

A CIBIL score is a three digit numeric summary of an individual's credit history. It is derived using details found in a credit report, which is a report that provides a record of an individual's loan-related payments and credit card payments. Using the credit report and CIBIL score, banks and financial institutions evaluate loan or credit card applications and determine the limits and terms of a loan or credit line.

To help get on the path to financial health, Hrushi Mehta offers the following do's and don'ts of credit health.

Do use a credit card with low interest for small purchases and pay it off in full each month.

Do take advantage of your free credit report each year. It is important to actively monitor credit in order to achieve good financial health. You receive one free credit score and report each year from TransUnion CIBIL.

Do be patient. Building credit doesn't happen overnight. There are no shortcuts to establishing good credit, but a long term investment in your credit health will pay off down the road.

Don't use credit to make purchases you can't afford. Instead, only make purchases you can afford and pay your credit card bills on time and in full each month.