What is Financial Pulse Report?

CIBIL Score: The three-digit number that matters

Your CIBIL Score is created by CIBIL (Credit Information Bureau India Limited). This is a special three-digit number that shows how good you are at borrowing money and paying it back. The score ranges from 300 (not good) to 900 (excellent). The higher your score, the better your credit history looks, and the more likely banks will approve your loans. Think of it like a report card for your money habits.

Credit age: How long you've been borrowing

Credit age means how long you've been using credit products like loans or credit cards. It's calculated from the date you took your first loan or opened your first credit card. A longer credit age is actually good because it shows you've been managing credit responsibly for a long time. This can help boost your credit score.

Credit mix: Having different types of loans

Credit mix refers to the different types of credit products you have. For example, you might have a personal loan, a car loan, and a credit card. Having this variety is a good thing because it shows lenders you can handle different types of credit. A healthy mix includes both secured loans (where you pledge something as guarantee, like a house) and unsecured loans (like personal loans). This variety can actually strengthen your credit score.

Credit card utilisation: Using your credit wisely

This is simply the percentage of your credit card limit that you're currently using. For example, if your credit card limit is Rs. 1,00,000 and you've spent Rs. 30,000, your utilisation is 30%. Keeping this number low (ideally below 30%) shows that you manage your credit responsibly. Banks like to see this because it means you're not overspending, which makes them more confident in lending you money.

Detailed credit history: The full story of your borrowing

Beyond just your score, this section shows everything about your past and present credit accounts. It lists all your loans, credit cards, any times you missed payments, and any settlements you made. By reading this part carefully, you can spot areas where you need to improve and see how much your credit has gotten better over time. It's like a complete diary of your credit life.

Identifying strengths and weaknesses

By looking at your CIBIL score, credit age, mix, and how much you're using your credit card, you can figure out what's helping your credit and what's hurting it. Maybe your credit score is high because you've been paying bills on time. Or maybe it's lower because you're using too much of your credit card limit. Understanding this helps you know what to fix.

Tracking progress over time

If you check your Financial Pulse Report regularly, you can see how your credit score improves (or gets worse) over time. This is motivating because you can actually see the results of paying your bills on time and reducing your debts. You can measure whether your credit management strategies are working or not.

Making informed decisions about money

When you understand your credit health clearly, you can make smarter choices. You'll know when you're ready to apply for a loan, which type of loan might be best for you, or whether you should improve your credit score before applying. This stops you from making rushed decisions that could hurt your finances later.