CRIF Vs CIBIL: Comparing Credit Scores and Their Key Differences

Understanding the difference between CRIF vs CIBIL can significantly improve your ability to secure loans or credit cards in India. The Centre for Research in International Finance (CRIF) High Mark and the Credit Information Bureau India Limited (CIBIL) both provide credit scores ranging from 300 to 900. 

Yet, your CRIF score vs CIBIL score may not match, as each uses different methods to assess your financial history. Knowing the differences clearly can enhance your chances of loan approval. Without understanding these variations, you could risk unexpected rejections or unfavourable terms, making financial planning difficult.

Understanding the differences between CRIF score vs CIBIL score can significantly influence your chances of securing credit. Here’s a clear comparison of key parameters between the two leading credit bureaus in India:

Here is how you can easily check your free CRIF credit score online in a few simple steps:

1. Visit the official CRIF High Mark website and click on the 'Check Free Credit Score' option

2. Enter your full name exactly as it appears on your PAN card

3. Provide your PAN number accurately in the given field

4. Type in your registered mobile number and click 'Submit'

5. Verify your identity through the OTP received on your registered mobile number

6. Review your personal details carefully and confirm they are correct

7. Access your CRIF credit score along with a detailed credit report instantly online

Keeping track of your CIBIL score helps you stay financially healthy and improves your chances of getting credit at better terms. Here is how you can check your CIBIL score for free using Bajaj Markets:

1. Visit the Bajaj Markets website, go to the CIBIL Score section, and click on ‘Free CIBIL Score’

2. Click on the ‘Check Now’ option displayed on the page

3. Fill in your personal details—name, mobile number, date of birth, email ID, PAN, and residential pincode

4. Choose your employment type from the available options

5. Tick the checkbox to accept the terms and conditions

6. Click on ‘GET REPORT’

7. Enter the OTP sent to your registered mobile number and click on ‘SUBMIT’

8. Once your details are verified, your CIBIL score will be displayed

To monitor your credit score more effectively, use the Bajaj Markets App. It provides a personalised report with insights on your credit cards, loan details, and tailored suggestions to help you improve your score.

Lenders check credit scores from both CRIF High Mark and CIBIL to assess an applicant's creditworthiness. While CIBIL score is more widely recognised in India, CRIF score is gaining traction, especially in certain sectors. The choice of which score to use depends on the lender and the type of loan being applied for. Lenders may check one or both scores to get a complete view of an individual's financial behaviour before approving a loan.

Here are the steps to rectify errors on your credit report and ensure its accuracy:

1. Obtain a copy of your credit report from CRIF or CIBIL to identify any discrepancies

2. Review the report carefully to check for errors such as incorrect account details or missed payments

3. Contact the credit bureau via their online portal or customer support to report the errors

4. Provide supporting documentation, such as bank statements or payment receipts, to validate your claim

5. Wait for the credit bureau to investigate and resolve the issue, which may take 30 to 45 days

6. Once the dispute is resolved, check your updated CRIF or CIBIL credit report for corrections

Here’s how you can raise a dispute with CRIF to correct any errors on your credit report:

1. Log in to your CRIF High Mark portal using your credentials

2. Navigate to the "My Report" section and click on the ‘Raise a Query’ tab

3. Select the credit report containing the error you wish to dispute and click ‘Proceed’

4. Choose the account or information you want to correct and click "Submit" to raise the dispute

5. After submitting, you will receive a service request or ticket number via email for future reference

6. Wait for CRIF to resolve the dispute, which typically takes up to 30 days

7. Once resolved, CRIF will share the outcome of the dispute with you, closing the grievance

Here’s how you can raise a dispute with CIBIL to correct any errors on your credit report:

1. Visit the official CIBIL website and submit the online dispute form

2. After logging in, select the credit report with the error and fill in the details of the dispute

3. Submit the dispute form, and it will be forwarded to the concerned bank or financial institution for review

4. Based on the type of dispute, the bank/financial institution will either accept or reject the dispute

5. If the dispute is accepted, CIBIL will make the necessary corrections on your report

6. The entire process will be completed within 30 days from the submission of the dispute