How to get an Equifax credit score? A step-by-step guide | Mint
Source: Live Mint
To manage your financial health effectively, it is important to know your Equifax credit score. Equifax is one of the authorised credit bureaus in India and it provides its customers with their credit reports and scores. You can access Equifax credit score both online or offline.
Understanding the Equifax credit score
The Equifax credit score is a three digit number that represents your creditworthiness from 300 to 900. Favourable terms in getting a loan or credit card means you have a better credit health score. If you regularly check your credit score, you will know that you can improve and keep yourself in good financial health.
Steps to get Equifax credit score
Via Equifax official website:
- Visit the Equifax India support page which offers free credit reports: EQUIFAX.CO.IN
- Fill out the Credit Report Request Form on the website.
- Submit identification and proof of address documents that are specified.
- Enter the information and the documents on the form online, as specified.
- If Equifax validates your information, they will share your credit report within seven days.
Via physical mail:
- On the Equifax India website, download the Credit Report Request Form and print it.
- Fill in the form with precise personal data.
- Send the self attested copies of identification and address proof documents.
- Send the completed form and documents to the Equifax office address provided on their website.
- Once you receive the credit report and it is successfully validated, Equifax will send it to you within seven days.
Key factors to consider while checking the Equifax credit score
Frequency of access:
- It is advisable to regularly check your credit report for accuracy and to stay updated on your credit status.
- Some platforms give you free access to your credit report and score periodically, but be aware of any terms of service associated with that.
Data accuracy:
To avoid delays or discrepancies, make sure all the information you give during the request process is identical to the information on your official documents.
Security measures:
When you have to access your credit information online, use secure and trusted platforms to protect your personal data.
Maintaining a healthy credit score can help you build a strong credit profile which increases your chances of getting lowest interest rates on your future borrowings. However, you must ensure that you make your debt repayments on time as even a single missed payment can deteriorate your credit score drastically. Hence, borrow only if you can afford and plan your repayments properly to avoid any debt traps.
