The CRIF score is a three-digit figure which is assigned to an individual or an entity by CRIF High Mark, one of the four main credit bureaus operating in India. Your CRIF High Mark credit score is an indicator of your loan repayment ability and it is one of the first things a lender checks when they receive your loan application. This article will tell you everything you need to know about the CRIF High Mark credit score. Read on to know more.
A CRIF credit information report is a detailed record of the credit information behaviour displayed by you in the past. Your CRIF High Mark credit information report will include the following bits of information:
Your personal details(Name, ID number, date of birth etc.)
The number of credit accounts that are active
Your repayment history
The amount that you still owe the lenders, and
The number of enquiries that have been recently made about you by financial institutions
A lender takes all of this information into account and then decides whether or not you should be granted more credit as it gives them an indication of your creditworthiness.
You can check your CRIF High Mark credit information report and score by following the below-mentioned steps:
Here is a list of pointers that one should know about CRIF Highmark free credit report -
The Highmark credit score determines the creditworthiness of loan applicants.
The CRIF Highmark score should range between 300 - 900.
An individual can generate a CRIF credit report free of cost once a year. Generating credit reports more than once is chargeable and can cost around ₹399.
Personal credit score and business credit score are two types of CRIF Highmark scores for individuals and business entities.
The major elements that are taken into consideration to determine CRIF Highmark credit score are - credit utilisation ratio, credit card applications, credit mix, credit payment history, etc.
Your CRIF credit score stays within the range of 300-900. 900 is the highest and best possible score you can get, whereas 300 is the lowest and the worst. If your credit score is between 300-500, it is considered to be poor. If it is within the range of 300-500, it is considered to be fair. But, if your CRIF credit score is within the range of 700-850, it means that you have a good credit score. If it is above 850, you can say that you have an excellent CRIF credit score.
CRIF Score Range
CRIF High Mark calculates your credit scores with the help of the FICO credit scoring model. As per the scoring model, CRIF High Mark takes certain pieces of your credit information into consideration and assigns each one of them a weightage that is expressed in percentage terms.
Credit Utilisation Ratio
The elements that experian takes into account and the weightage that is assigned to them are as follows:
Credit Mix: Your credit mix is essentially the ratio of your unsecured loans to your secured forms of credit.
Credit History: The loans and credit cards availed by you in the past years is a part of this section.
New Credit: The credit cards and loans which you have availed in the recent past is also accounted for by CRIF High Mark while calculating your credit score.
Payment History: This is the most important factor that is taken into consideration by CRIF High Mark when they are calculating your credit score. This section essentially is a record of all your credit repayments and late payments (if any).
Amount Owed: Your outstanding dues are also accounted for while calculating your credit score. It gives the lender a sense of your loan repayment capability and your capacity of taking on new credit when they check your credit report after you apply for a loan/credit card from them.
Credit Utilisation Ratio: The percentage of your available credit which has already been used is also looked into by CRIF High Mark at the time of calculating your credit score.
The benefits of a good CRIF High Mark credit score are as follows:
You can get pre-approved offers from lenders
You can get favourable interest rates on your credit cards or loans
You can get easily approved for personal loans, home loans or car loans
You may even be able to negotiate repayment terms with your lender
You can improve your CRIF High Mark credit score in the following ways:
Some of the factors that affect your CRIF credit score are:
The services and products offered by CRIF High Mark are:
CRIF Customer Care Number
(+91)20 - 67157709/42/71/79/80
CRIF Corporate Office Address
FOFB-04,05,06, Fourth Floor,
Art Guild House, Phoenix Market City,
CTS No.124/B, 15, LBS Marg, Kurla West,
Mumbai, Maharashtra 400070.
Tel No - +91-22-7171-2900
CRIF Mail Id’s
For login Related Issues
Mail from your official email ID mentioning the User ID
For Credit Report Issues:
Mail from your official email ID mentioning the issues in CHM report on the below mail id’s:
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CRIF PCR: PCR stands for a personal credit report, As the names suggest, a personal credit report is a detailed record of an individual’s credit history and shows the credit behaviour exhibited by them in the past.
CRIF BCR: BCR stands for the business credit report, BCR helps a lender assess the credit health of a corporate entity. Before approving a business or company for a working capital loan or loan for the purchase of equipment, banks or NBFCs take into account the business’s credit score and history, as well as the promoter’s (personal) credit score
Applicants from the micro-finance, agriculture, rural, and retail sectors can obtain CRIF Highmark credit reports for their personal or commercial use.
If you follow a handful of simple steps, you can get your CRIF report within minutes. All you will need to do is log onto the official portal of CRIF High Mark, share some basic information regarding yourself, and then verify your identity by answering a question about your most recent credit activity. Once you do that, you will be taken to a dashboard page that will display your credit report. You can also download your credit report from there as well.
It is recommended that you check your CRIF credit score and report as frequently as possible to understand where you stand in terms of loan eligibility and even keep an eye out for potentially suspicious credit-related activity.
To receive a copy of your CHM bureau report, please send an email request with your report ID as the subject to firstname.lastname@example.org.
A CRIF credit score is calculated by taking the same factors into account as CIBIL does, but both of them assign different weightages to the same aspects related to one’s credit behaviour. It is due to this reason why your CRIF score will be different from your CIBIL score. If the difference is vast, you may want to contact either of the credit agencies and investigate further.
A score of 750 or above is considered a good CRIF High Mark score.
You can raise any CRIF credit information-related query through the official portal of CRIF itself. All you will need to do is log onto their website, click on ‘Contact Us’ and then fill up a form which will ask you for your contact information and the exact query you have. You can then expect a CRIF executive to get in touch with you shortly either through mail or phone.
You can check your CRIF High Mark credit score and get your credit information report for free once every year. Thereafter, you will need to pay a fee of ₹399 every time you ask for the same.