Check Your Free CIBIL Score by PAN Card

Your credit score is one of the most important things that a lender checks when you apply for a loan or a credit card to know about your creditworthiness. This is to determine your ability to repay the debt on time. A strong credit score improves your chances of getting your loan application approved. 

At Paisabazaar.com, you can check your credit score for free with monthly updates whereas you need to pay a fee on the TransUnion CIBIL website to check the credit score. However, you need to provide your PAN Number as one of the documents to know your credit score online for free.

Steps to Check CIBIL Score Using PAN Number

Paisabazaar.com provides a free CIBIL score along with monthly updates. To get your free CIBIL score using your PAN card, follow the steps stated below:

Step 1: On the Free Credit Score form, enter your personal details such as Name, DOB, PIN Code, etc.

Step2: Enter your Permanent Account Number and verify details using OTP authentication

Step 3: Click on ‘Get Your Credit Score’ button

Once done, you will be redirected to your newly created account on Paisabazaar.com, where your credit score will appear. You can check your credit score from multiple bureaus in various languages (Hindi, Marathi, Kannada and Tamil) and get monthly updates as well.

Effects of PAN Change on CIBIL Score

If your PAN card is lost or stolen and you have requested a duplicate PAN card, it won’t have any effect on your CIBIL/Credit score as the PAN number will remain the same. However, if you have two different PAN cards, then it is advisable to surrender one in order to avoid any issues.

Also, getting a new PAN Card might affect your CIBIL score. It’s because your credit score is based on your credit history which is mapped to your existing PAN card. So, if you apply for a new PAN, then the TransUnion CIBIL database may probably show a red flag on your account.

To know how to surrender multiple PAN cards, click here.

Other Factors Affecting Your CIBIL Score

Following are the major factors that influence your CIBIL Score:

1. Bad Payment History

Making repeated late payments or missing out on your EMIs will negatively impact your CIBIL score. Maintaining a track record of timely EMI and credit card due payments is arguably one of the most important factors impacting your CIBIL score.

2. Multiple Hard Enquiries

If you have recently applied for multiple loans or credit cards and those applications have been approved, then lenders will view your application with caution because this behaviour indicates your debt burden has increased, thus impacting your score negatively.

Suggested Read: Pros and Cons of Owning Multiple Credit Cards

3. High Credit Utilization

Having a high credit utilisation ratio or maxing out your card frequently shows you to be overdependent on credit and having a high repayment burden, which may affect your credit score negatively. It is advised to keep your credit utilization not more than 30% of the total credit limit. This shows that you are not credit hungry and chances of you as a borrower turning into a defaulter are slim.

4. Right Credit Mix

Having a balanced mix between a secured loan (like a car loan or home loan) and an unsecured loan (like a personal loan or credit card) is likely to have a positive effect on your credit score. It is advised to keep a check on your unsecured loans. However, it has a fairly low impact on your credit score. You should not go for a secured loan just because you have a lot of unsecured loans and no secured loan.

Suggested Read: 10 ways to improve your credit score

Frequently Asked Questions

Q. Does Applying for a New PAN Card Impact your CIBIL Score?

Your CIBIL score is calculated based on the details of loans or credit cards linked to your existing PAN card. If you already have a PAN card, you are not required to apply for a new one as owning more than one PAN card is a punishable offence and the Income Tax department may take action against you.

Q. What are the effects of PAN change on my CIBIL Score?

Your CIBIL score is calculated based on the credit products linked to your PAN card. In case a different PAN card is mentioned in your CIBIL report, your credit score may vary.

It is, however, recommended that you get it corrected as early as possible otherwise lowering your credit score due to incorrect information in times of need can make it difficult for you to get your loan application approved.

Q. What is a newly issued PAN Card’s CIBIL Score?

A PAN Card is required to apply for a loan or credit card. When you get your PAN card for the first time and you haven’t applied for the loan already, credit bureaus do not have any information regarding your credit behaviour. Hence, they mark ‘New to Credit’ against your profile. It, however, does not mean that lenders will necessarily deny you a loan or credit card if you fulfil other criteria.

Q. Does SBI use my PAN card to check CIBIL Score for personal loan?

When you apply for SBI personal loan, the bank requests your credit score from CIBIL. Your PAN is required to generate your CIBIL report as all existing and old credit details are linked to your PAN. The loan approval depends largely on your CIBIL report apart from various other eligibility criteria.

Q. Can I check my credit score if I do not have a PAN card?

Your major financial transactions are recorded against your PAN card. If you don’t have a PAN card, there is high probability that you haven’t availed any credit. In such a case, any credit bureau will not be able to generate your credit score.

Q. Can I generate my credit score using Aadhaar card?

Even though you have to link your PAN card with Aadhaar, but as of now, you cannot get your credit score using your Aadhaar number only. You will have to provide your PAN card to generate your credit score.

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