About Experian

Experian is one of the 4 credit bureaus operating in India namely – Equifax, Experian, CIBIL™ and CRIF High Mark. Experian collects and maintains the data of people who have taken credit in the form of loans or credit cards assessing the borrower in the form of a score called credit score and the compiled information is presented as a report known as a credit report.

The Experian credit report as any of the other 3 bureaus namely Equifax, CIBIL™ and CRIF High Mark who operate in India are important as it provides banks and NBFCs a way to know the credit worthiness of an individual or credit applicant. By providing a credit score based on the data made available on an individual’s report the bank can make any lending decision. If a person has a very high credit score, then they have paid back their loan regularly and on time. While on the other hand if a person has low credit score it means that he/she was not regular and missed multiple payments. This way banks have a better idea on whose application they can approve.

The credit score is issued by 4 credit bureaus in India which are CIBIL™, Equifax, CRIF High Mark and Experian. As per RBI guidelines the credit bureaus including Experian are mandated to provide a free credit score once a year to individuals. Those who are interested in knowing their credit scores from the bureaus can visit the bureaus and apply for a credit report online or through post.

Absolutely! As banks look at your credit score which is provided by the 4 credit bureaus Experian, Equifax, CIBIL™ and CRIF High Mark in India, it is best to check your credit score before applying for any loan or credit card. Your credit is the first gate or the first thing a bank check when you apply for a loan and it is based on your score that your loan amount, tenure and most importantly interest rate. If you have a lower score improve it before applying for credit.

A credit score gives potential lenders a snapshot of your credit health and your ability to repay your debts on time. All four credit bureaus allocate scores differently and it varies between 300 and 900.Any score above 750 is a good score and any lender will consider that score as creditworthy.