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Credit Score Matters!

Livemint partners with CRIF High Mark, allows readers to check credit score for free

Livemint has teamed up with CRIF High Mark to provide readers with free access to credit scores. This partnership aims to boost financial awareness and empower users to monitor their credit health, facilitating informed financial decisions and promoting overall financial literacy.

Updated24 Jan 2025, 02:18 PM IST

A credit score, a three-digit number, reflects an individual’s creditworthiness. It is determined by credit bureaus such as CRIF High Mark based on credit history and repayment behaviour

In collaboration with Mumbai-based CRIF High Mark, an RBI-approved credit bureau, Livemint has announced a free credit score service for its readers. This initiative empowers individuals to check their credit scores without any cost, providing a vital tool for financial awareness and planning.

A credit score, a three-digit number, reflects an individual’s creditworthiness. It is determined by credit bureaus like CRIF High Mark based on credit history and repayment behaviour. As one of India’s leading RBI-approved credit bureaus, CRIF High Mark plays a pivotal role in helping individuals and financial institutions make informed decisions.

Why your credit score matters

Key financial indicator: A credit score is essential when applying for credit cards or loans. A high score improves loan approval chances and ensures better interest rates, while a low score can result in higher rates or rejections.
Widely used: Beyond banks, mobile providers, insurance companies, and government agencies also use credit scores to assess creditworthiness.
Empowerment: Knowing your credit score helps you make informed financial decisions and manage your credit health effectively.

Check your credit score for free

Livemint’s free credit score tool makes it easy to check your score. Accessible at www.livemint.com/credit-score, users can:

View your credit score categorised as excellent, good, fair, etc.
Monitor your financial health without affecting their credit score.
Identify and address potential issues in your credit report.

All you need is your name, mobile number, and email to get started.

Also Read | What is the minimum credit score you need for personal loan?

Why should you check your credit score regularly

Regular credit score monitoring is vital for maintaining financial health. Here’s why:

Stay informed: Understand your eligibility for loans and the terms you might receive.
Spot errors: Identify inaccuracies in your credit report and get them corrected.
Financial planning: Track factors influencing your score to manage loans and credit cards better.

Does checking the score impact it adversely?

Checking your own credit score does not negatively impact it. Experts recommend reviewing it at least once a quarter to stay updated as self-enquiries do not affect the scores.

About this partnership, Sachin Seth, Chairman, CRIF High Mark said, “We are excited to collaborate with LiveMint to offer free access to credit scores, equipping individuals with the required knowledge to make informed financial decisions. In today’s dynamic financial environment, understanding one’s credit health is essential for securing better loan terms and building a strong financial portfolio. This initiative is a key step in our mission to enhance financial literacy and provide transparent, accessible credit information. By empowering individuals, we are facilitating individuals to take control of their financial futures. Together, we are democratising access to credit scores, fostering financial empowerment and promoting long-term credit health.”

Also Read | Struggling with a low credit score? Here’s how to get a personal loan

Puneet Jain, CEO of HT Digital Streams, commented, “We strive to provide our users with quality information while adhering to the highest editorial and ethical standards. Personal finance is a key focus area for us, and this partnership with CRIF enhances our editorial offerings in this domain. By raising awareness about credit scores, we aim to empower our users to take charge of their financial health and make informed decisions.”

So, you can visit www.livemint.com/credit-score to check your credit score for free and take a vital step toward better financial health. Remember that monitoring your credit score is the first step toward understanding and improving your financial well-being.

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First Published:24 Jan 2025, 02:16 PM IST

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