What is a credit information report (CIR)?

It contains details of your credit history collated by a credit information company. At present, there are four such companies in India-Credit Information Bureau (India) Ltd (Cibil), Equifax Credit Information Services Pvt. Ltd, Experian Credit Information Co. of India Pvt. Ltd and High Mark Credit Information Services Pvt. Ltd.

Whenever you apply for a loan, the lender asks a credit bureau for your credit background to check if you have paid earlier dues in time or not. The information shows your monthly payments and how you manage your credit. This forms a part of your overall credit history and will reflect in your CIR.

A CIR also helps individuals check their own eligibility for a loan.

Based on the information available, a score is assigned. According to Cibil, 79% of loans approved are for individuals with a score higher than 750 (overall range is 300-900).