What should I do if the score is incorrect?

You need to report the error to Cibil with valid proof, and if you are not satisfied with the action, you can lodge a complaint with the banking ombudsmans grievance cell, who will take up the issue and evaluate it neutrally How often does my credit score get updated?

Updating a credit report is an ongoing process.

Lenders send updated data regarding an account to the agencies. It depends on how many credit accounts an individual has, and when there is a change in credit data. The moment there is a change in credit data, it will reflect on the credit score Your credit score will be a key reason to determine loan approval.

This makes it essential for you to monitor your credit score (available from Cibil), to ensure that your loan is not rejected due to a poor credit score What is a good score?

A credit score is generally a three digit number within the range of 300 and 900. Higher the score, the better it is What are the benefits of a good score?

The most significant advantage of a good credit score is that you can use it to negotiate a more favourable interest rate with the lender Will my credit score with various credit reporting agencies be the same?

As source of information for each credit agency may not be the same, scores are bound to differ. Lenders may not report to all agencies. Besides, as competition in this space increases, each player would want to launch innovative products and new ways of capturing information that may affect the credit score Should I access my score from one agency only?

There may be errors in the report of any single credit agency that you will be able to spot only if you access your credit report from all agencies