Home Credit Cards & Banks How To Check Credit Score? – Simple Steps

How To Check Credit Score? – Simple Steps [Updated in 202]

July 5, 2018

What is a Credit Score?
Why Do Credit Score Matter?
Where To Check Credit Score
Other Credit Card Stories

How To Check Credit Score Online

Steps	Steps To Check Credit Score
Step 1	Visit any website of your choice to check the credit score
Step 2	Select your gender
Step 3	Enter your age
Step 4	Select your city where you live currently
Step 5	Select the company you work for
Step 6	Enter your net monthly salary
Step 7	Enter your PAN Card Number
Step 8	Fill in your personal details
Step 9	Provide your contact details and email address
Step 10	Enter verification code sent to your mobile number
Step 11	Your credit score will be sent to your email ID and mobile number

What is a Credit Score?

A credit score is a numeric representation of your credit history. It is mainly comprised of five components that have their respective weights while calculating your credit score:

Payment history- 35%
Amounts owed- 30%
Length of Credit history- 15%
How many types of credit in use- 10%
Account inquiries- 10%

A bank generally uses your credit score to evaluate your credit risk. Higher the number of your credit score, the lower is the credit risk.

Why Do Credit Score Matter?

Your credit score is often used by lenders, banks and creditors to help evaluate and rate how much of a risk you are to loan money. The number of score determines how much responsible you are when it comes to your credit and how do you manage your finances. If your number is lower, there can be rejections from the lenders based on your poor management. Credit score is a part of your credit history and it determines the trust level an investor or a lender should have on you.