How to check your CIBIL score on Google Pay– Google Pay is an online money transaction system that allows users to make monetary transactions. On Google Pay, you can make payments, send money home, recharge your mobile, shop online, and so on.
With Google Pay, Users can now get their credit report powered by TransUnion CIBIL. When you will obtain your credit report, it also provides you with suggestions on how to improve it. Monthly updates are shown for your credit report.
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Here, we have provided a step-by-step guide to check your CIBIL score on Google Pay.
How to Create Your Credit Report on Google Pay
Step 1: First of all, Open the Google Pay app.
Step 2: Now in the “Manage your money” section, click on it to check your CIBIL score for free.
Step 3: Then follow the on-screen instructions.
If you’re a first-time user, you will have to provide the details as mentioned below:
- Full name
- Phone number
- Email ID (optional)
- PAN (optional)
Tip: If you check your credit score on Google Pay, it doesn’t impact your credit score.
What is a credit score?
A credit score is a 3-digit number that symbolises your creditworthiness. Lenders utilise credit scores to determine:
- If they can trust a user to pay back a loan or credit card bill
- If they can grant a loan or issue a credit card
- The interest rate of a loan or type of credit card.
Is 750 a good CIBIL score?
| CIBIL Score Range | Rating |
|---|---|
| 300-499 | Poor |
| 500-649 | Average |
| 650-749 | Good |
| 750-900 | Excellent |
Why you should track your credit score?
- When you maintain a good credit score, it enables you to get better interest rates on loans and better credit cards.
- When you track your credit score on Google Pay, it offers you actionable recommendations to improve your credit score.
What you can find in your credit report?
You can consider the following information in your credit report for all your credit products:
On-time payments:
- Total number of payments
- Total number of delayed payments
- Specific details of delayed payments, such as the last 4 digits of the account number, bank name, or the month when the payment was delayed
Credit limit utilization:
- Limit for each account
- Percentage utilization
Credit inquiries:
You can discover all the inquiries that lenders made about them.
- Name of the bank or financial institution that checked the credit report
- Date of inquiry
- Inquiry purpose
You can see a consolidated list of accounts that CIBIL has utilised to calculate the score. This includes:
- Name of the bank or financial institution
- Account types, like credit cards and personal loans
- Other details of the account, like the Date created and the Last update date from your bank