Difference Between CIBIL Score and Credit Score Explained Simply

As you download an app for loans, you come across a statement that says, “Check your credit score.” Then suddenly someone pops in and asks, “How is your CIBIL?”

Hold on—isn’t this the same question?

Sort of. You can take credit score as a general term, while CIBIL Score is a particular score offered by CIBIL, a credit bureau of India. The difference between CIBIL score and credit score can be easily made when we no longer confuse the two terms.

Credit Score Is the Category. CIBIL Is One Variant.

A credit score is a quantitative representation of how you manage your credit. Credit scores vary from one credit bureau to another based on how the credit information is calculated. CIBIL will give you the cibil score. But other credit bureaus will give you a CRIF credit score or an Experian credit score.

So if your friend says, “My credit score is 780,” the next question should technically be: which bureau's score?

That distinction matters during a credit score check.

What About Your Credit Card Score?

There isn't a separate universal “credit card score” that replaces your main credit score.

It’s just another way of saying how your actions on your credit card affect your overall credit standing. Timely payments and keeping your usage down can help improve your credit standing. And yes, your credit-card history can matter when you're applying for a loan.

We at PrimeScore advise that the next time you type “my credit score,” make sure you are asking for more than just that number.

What You Should Actually Be Checking For

Rather than fixating on just one score, find out how to check credit report data and delve into the finer aspects of the score.

You will be looking for:

1. Payment record

2. Outstanding balance

3. Credit usage

4. Current accounts

5. Inquiries made

6. Unfamiliar accounts

The data may be available through paisa bazaar credit score, bajaj finance, or any other financial service provider. Make sure you know which bureau the data is from. If your score needs some improvement, learn how to increase credit score by making regular payments, wise credit usage and making fewer loan inquiries.

FAQs

1. Is CIBIL Score the same as Credit Score?

CIBIL Score is a form of credit score. The general term for that is "credit score."

2. Do CRIF and CIBIL Scores always match?

No. Various agencies can have different scores based on their analysis of your information.

3. Does Experian give a credit score in India?

Yes. Experian gives credit information as well as credit score in India.

4. Does checking my own score affect it?

No. It does not affect your score in any way.

5. Which score should I check before borrowing money?

Check the bureau report which is being used by your lender.