You don’t have a credit profile
CIBIL Score
Your CIBIL Score is a measure of your credit health. Check your CIBIL Score for free, get insights into your credit behaviour.
Did you know?
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Paying your EMIs and credit card bills on time improves your CIBIL score.
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Checking your credit score multiple times does not have a negative impact on your score.
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Your income has nothing to do with your credit score.
Here’s how you can build your credit score
If you have never applied for a credit card or taken a loan, you are most likely not going to have a credit score. A good credit score is essential to get quick approvals on loans and higher limits on credit cards. Here are a few tips to help you build your credit history.
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STEP 1: Apply for credit to build your credit score
Apply for a secured credit card
A secured credit card is a card that you get against a collateral. This collateral is usually a fixed deposit (FD) with the bank issuing the credit card. The secured credit card works just like any other credit card. To apply for such as card there is no need for a credit score check.Apply for a collateral-based loan
You can apply for a loan against your house, fixed deposits, mutual funds, or shares, gold, PPF, credit cards, etc. These are much easier to get as the risk involved is low.
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STEP 2: Healthy practices to build a good credit history
- Pay EMIs on time
- Check credit score and Credit Health Report from time to time
- Avoid multiple loan enquiries with different lenders
If you don’t have a score, you may be offered a pre-approved loan based on loan default history, stable income (as proven by your income tax returns (ITR), or if you maintain a steady balance in your bank account. Banks or Non-Banking Financial Companies (NBFCs) with whom you have an existing relationship already know your creditworthiness. Taking a pre-approved loan from them and repaying it regularly can help boost your credit score.
Frequently asked questions
You may not have a score if you have never applied for a loan or a credit card. Your credit score is a three-digit number that measures your credit health. It is calculated based on many factors, including your loan and credit card repayment history. Get tips to build your credit score with the Bajaj Finserv Credit Pass.
An ‘NA’ (Not Available) or ‘NH’ (No History) tag indicates that you do not have enough credit history to be assigned a score. Individuals who have never applied for a loan or credit card are usually tagged as NA or NH. This means you’ll need to build your credit score to be eligible for a loan.
Your credit score is a measure of your credit health. It considers various factors such as your number of ongoing loans, repayment history, and more. Lenders like banks and NBFCs consider your credit score an important factor in approving your loan or credit card application.
Without a CIBIL Score, lenders will have no way of verifying your profile.
You can track changes to your CIBIL Score by directly going to the CIBIL website and creating an account. They offer a 24 x7 monitoring service that will notify you of any changes to your credit score. However, you can check your score for free with CIBIL only once a year. To regularly check and track changes to your credit health, you need to take their paid membership. However, with our Credit Pass, you can check your credit score for free as often as you want. Checking your CIBIL Score has no impact on your score.
The minimum CIBIL Score required to get a loan is usually 700. However, this score slightly differs from lender to lender. To maintain and improve your credit health, you must regularly check your CIBIL Score. Checking your score has no impact on your score. With the Bajaj Finserv Credit Pass, you can check your credit score and download your detailed credit report.
