How to Understand Credit Scores

Your credit score is a three-digit number that relates to how likely you are to repay debt. Banks and lenders use it to decide whether they’ll approve you for a credit card or loan. But did you know you actually have more than one credit score?

How credit scores are created

The four main credit bureaus – CIbil, Equifax, Experian and High Mark– create your credit reports. Credit Score typically ranges from 300-900. The credit bureaus can also calculate scores for you based on their own proprietary models.

Your scores are typically based on things like how often you make payments on time and how many accounts you have in good standing.

Your score will never factor in personal information like your race, gender, religion, or marital status.

Why you could have different scores

With so many ways to calculate credit scores, it’s not uncommon to have multiple different scores at the same time.

You could have different scores if a lender doesn’t report to all three credit bureaus or reports updates to them at different times. Some lenders may only report to one or two bureaus (or none at all).

You could also have different scores depending on the lending situation. For example, an auto lender might use one scoring model, while a mortgage lender uses another.

Scoring models – what’s the difference?

Credit Information Company cannot delete or change records reflecting your CIR on its own; they simply collect records of individuals provided to by members (Banks and financial institutions). CIBIL, Equifax, Experian and Highmark, all work on similar principles and are alike in a number of ways.

  • Your payment history
  • How long you’ve had credit
  • The types of credit you have (credit cards, auto loans, education loans, mortgages, etc.)
  • Your credit limits and how much of those limits you’re using
  • How much debt you have
  • Hard inquiries on your credit report

The bottom line: Your scores may vary, but they’re all based on the information in your credit reports. Checking your reports regularly can help you see what’s impacting your score so you know where you could improve.

What’s a good credit score in India?

Range of credit scores

Very Bad
300 – 559
600 – 679
680 – 719
720 – 759
Very good
760 – 800
801 above

Are you hurting your credit score?

Many Indians are damaging their scores without even knowing it.

See how you can improve your credit score (and what to avoid) with exclusive Makemyloans content and tips.

Our business model is actually pretty simple.

( And, yes, it really is free. )

You get your scores and reports

You get access to your credit scores and reports from Credit Information Company.

We make recommendations

We use our love of data to analyze your credit profile and make product recommendations that could help you save money.

We get paid by the bank or lender

If you get a product through one of our recommendations, the bank or lender pays us.

Our business model works because everyone can benefit.

If you’re like most of us, you probably receive tons of credit offers in the mail. But how often are they actually a good fit for you?

Here at, we want our offers to provide value to you – whether it’s savings, rewards or debt relief – and we choose financial partners that share our mission. If we do our job well, you save some money, we make some money and banks turn away fewer customers. Everyone wins.

You’re in safe hands.

Secure and private

We uses state-of-the-art, the latest in 256-bit encryption to ensure your information stays secure. .

We don’t spam

Everyone hates unwanted emails. So do we, so we don’t send them.

Checking is risk free

Viewing your Credit report will never impact your credit score. And it’s completely free.

We never sell your data

We never sell your details to anyone.

Totally free

No credit card required, really.It’s Totally free

Won’t affect your score

We use a “soft inquiry” to check your score, meaning your score won’t be affected.