How to Check CIBIL Score Using PAN Card?

Check your CIBIL score using PAN card, need an original and valid PAN card. It is vital to have a high credit score these days to get any type of loan. This three-digit number is a key factor in figuring out if you qualify for a loan and indicates your creditworthiness. Lenders will check CIBIL score using Aadhar card carefully whether you are looking for an auto loan, credit card or house loan. As a result, it's critical to understand your credit score and take the appropriate steps to raise it.

So, let’s discuss the steps to check your CIBIL score using a PAN card.

Steps to Check Your CIBIL Score Using PAN Card

The steps to check your CIBIL score using PAN card are as follows: -
1. Go to the official CIBIL website.
2. Select the "Get Your Credit Score" option located in the upper right corner.
3. Go straight to the credit score page.
4. Select a subscription option, if any.
5. Enter your PAN Card number.
6. Put in your email address.
7. Put your birthdate.
8. Decide on the Gender.
9. Put the captcha code in.
10. Accept the conditions and terms.
11. Select "Proceed to Payment.

Usage of Your PAN Card in Checking CIBIL Score

In India, the PAN card is an essential 10-digit alphanumeric identity number for people and organizations, especially those who have to pay taxes. It is an essential document for a number of financial tasks, such as check credit score using PAN card.

    • PAN card importance
In order to view your free CIBIL score and report, you must have a PAN card. It serves as a link to your bank and financial accounts, making it easier for credit bureaus to find your information quickly and accelerating the loan approval process.

    • Use of PAN Card
Your PAN card information is only utilized to obtain information on your credit products, such as loans and credit cards when you enter it to check your CIBIL score. It isn't used for anything else, so your financial information is kept private.

Effect of PAN Card Change on Your CIBIL Score

1. Issue of Duplicate PAN Card
Obtaining a duplicate PAN card won't lower your CIBIL score, but losing your original one can be upsetting. There is no effect on your credit score because your financial history and PAN number are unaltered. To avoid issues later on, it is imperative that any additional PAN cards must be surendered.
2. Issue of New PAN Card
Your CIBIL score can suffer if you apply for a new PAN card. This is so because your current PAN card and your credit history are connected. If you get a new one, TransUnion CIBIL can get suspicious, which could have an impact on your credit report. To preserve a good credit status, it is therefore advised to avoid obtaining a new PAN card unless required.

Factors That Affect Your CIBIL Score

1. Payment History: Your CIBIL score is greatly impacted by your history of paying on-time loans and credit card payments. Financial responsibility is demonstrated by timely bill payments on a regular basis.

2. Credit Utilization: Your score is influenced by the percentage of your available credit that you are using. Being mindful of your credit limit and maintaining low credit card balances is a sign of sound money management.

3. Length of Credit History: How long you've had credit accounts is important. Longer credit histories generally indicate more expertise in handling credit, which raises your score.

4. Credit Mix: Having a varied range of credit accounts, including loans, mortgages, and credit cards, might raise your credit score by showing your ability to manage various credit kinds.

5. New Credit Inquiries: Applying for new credit frequently may be a sign of financial instability and could result in a credit score reduction. A healthy CIBIL score can be maintained by limiting the number of new credit queries.

Why do we Need PAN Card Details to Inspect the CIBIL Score?

A PAN Card is a basic and important document to identify an individual. Furthermore, the majority of bank and financial accounts are linked to their PAN. PAN facilitates the credit bureaus' ability to quickly and easily find your information. Moreover, the PAN Card number is only used to locate your credit information and authenticate it using related facts when you use it to view your CIBIL score. It is not used for any other purpose.

PAN Change Effects on Credit Score

If you avail a duplicate PAN card in the case that your original card is lost or stolen, it won't affect your CIBIL/Credit score because the PAN number won't change. If you possess multiple PAN cards, it is recommended that you surrender one of them to prevent any issues.

Furthermore, your CIBIL rating may drop if you obtain a new PAN Card. This is so because the foundation of your credit score is your credit history, which is connected to your present PAN card. As such, in the event that you request a new PAN, the TransUnion CIBIL database is likely to show a red alert.

Conclusion

One of the most important components of your financial health is your CIBIL score, which can also have a big influence on any future loan applications you make. You may quickly CIBIL score check using PAN card by following the above instructions, and you can take the required actions to raise it.