এক্সপিরিয়ান বনাম CIBIL: আপনার জন্য কোন ক্রেডিট স্কোর ভাল?

একজন ব্যক্তির ক্রেডিট স্কোর হল তাদের আর্থিক জীবনের সবচেয়ে গুরুত্বপূর্ণ দিকগুলির মধ্যে একটি. এটি একজন ব্যক্তির ক্রেডিট যোগ্যতার একটি গুরুত্বপূর্ণ সূচক এবং প্রায়শই লোন এবং অন্যান্য গুরুত্বপূর্ণ আর্থিক বিষয়ের জন্য তাদের অনুমোদিত হওয়ার সম্ভাবনাকে প্রভাবিত করে. ভারতে, ক্রেডিট ইনফরমেশন কোম্পানি (CICs) তাদের লোন, রিপেমেন্ট এবং ক্রেডিট হিস্ট্রির উপর ভিত্তি করে মানুষের জন্য ক্রেডিট রিপোর্ট এবং স্কোর একত্রিত করার জন্য লোনদাতাদের কাছ থেকে তথ্য সংগ্রহ করে. 

RBI ভারতের চারটি প্রধান ক্রেডিট ইনফরমেশন কোম্পানিকে অনুমোদন দিয়েছে. এর মধ্যে ট্রান্সইউনিয়ন CIBIL, ইকুইফ্যাক্স ইন্ডিয়া, এক্সপিরিয়ান ইন্ডিয়া এবং CRIF হাই মার্ক অন্তর্ভুক্ত রয়েছে. এগুলির মধ্যে, দেশের সবচেয়ে জনপ্রিয় এবং ব্যাপকভাবে স্বীকৃত CIC হল CIBIL স্কোর. দ্বিতীয় সবচেয়ে জনপ্রিয় হল এক্সপিরিয়ান স্কোর.

অনেক মানুষ প্রায়শই জিজ্ঞাসা করেন যে এক্সপিরিয়ান স্কোর কী এবং এটি কীভাবে CIBIL স্কোরের সাথে তুলনা করে, সাধারণত ভারতীয় লোনদাতাদের দ্বারা চেক করা হয়. এক্সপিরিয়ান এবং CIBIL এর পার্থক্য জানা থাকলে তা ঋণগ্রহীতাদের স্কোরের ভিন্নতা ব্যাখ্যা করতে এবং অবগত ক্রেডিট সিদ্ধান্ত নিতে সাহায্য করে.

এই আর্টিকেলে, আমরা এক্সপিরিয়ান বনাম CIBIL ক্রেডিট স্কোর, CIBIL এবং এক্সপিরিয়ান স্কোরের মধ্যে পার্থক্য এবং কীভাবে আপনার জন্য সঠিকটি নির্বাচন করবেন তা সম্পর্কে জানাব.

ক্রেডিট স্কোর কী, এবং এটি কেন গুরুত্বপূর্ণ?

ভারতে, ক্রেডিট স্কোর সাধারণত একটি তিন সংখ্যার নম্বর বোঝায় যা একজন ব্যক্তির ক্রেডিট যোগ্যতা এবং লোনের পরিমাণ পরিশোধ করার ক্ষমতা প্রদর্শন করে. Credit score ranges often vary depending on the CIC. For example, the two most popular CICs, Experian vs. CIBIL, have credit scores that range between 300 to 850 and 300 to 900, respectively.

A credit score of 750 or above is considered to be good. Lenders are likely to approve loans and credit cards to individuals with higher credit scores and good credit reports. They may also offer better repayment terms and interest rates.

What is Experian Credit Score?

Experian is a global credit information company (CIC) that operates in more than 32 countries. It offers services like credit risk management, targeting marketing offers, fraud prevention, and other data and analytical tools. Experian also collects information to create credit reports and scores for businesses and individuals.

In India, Experian is one of the most popular CICs. The Indian branch of Experian Credit Information Company of India was formally started in 2009. This CIC is recognised by the Securities and Exchange Board of India (SEBI). Experian’s credit scores vary, with some ranging from 300 to 850 and others between 300 and 900. Checking your credit score for Experian can be done for free online.

What is CIBIL Credit Score?

TransUnion CIBIL is the most well-known and popular credit bureau in the country. It is also one of the oldest CICs in India, and most leading organisations are members of it. It collects, analyses, maintains, and compiles borrower information from various lenders.

This information is then used to create credit reports, credit scores for individuals, and CIBIL ranks and reports for organisations. CIBIL scores for individuals range from 300 to 900. You can check your CIBIL score online to gain insight into your credit history.

Difference Between CIBIL and Experian Credit Scores

While both show organisations and individuals their credit scores and reports, your Experian credit score vs CIBIL score may differ. The Experian and CIBIL difference could be caused by several reasons, which include:

1. Credit ranges

The most noticeable Experian and CIBIL difference is their credit ranges. Experian’s scores range from 300 to 850, while CIBIL’s scores range between 300 and 900. For Experian, a score above 700 is good, while a score above 800 is excellent. For CIBIL, a score higher than 700-750 is also considered good.

2. Scoring Model & Calculation Method

Another significant Experian and CIBIL difference is their scoring models. Experian uses the FICO model to determine credit scores, widely used in other countries like the USA. It takes into account payment histories, credit mixes, and other factors. On the other hand, CIBIL’s scoring model is more suited to the financial environment in India.

3. Types & Scope of Data Used

Experian uses data from various sources, including financial institutions, credit card companies, and public records. It also examines an individual’s payment history for rent, utility bills, and other factors. This information is then used to create and assess an image of a person’s financial habits.

CIBIL, on the other hand, primarily collects data from its member institutions., which are mostly limited to financial institutions. Due to CIBIL’s narrower scope, credit scores between the two CICs may differ.

4. Weightage assigned to different factors

While both Experian and CIBIL look at many common factors (like the length of a person’s credit history, utilisation ratios, credit payment history, and more), the weightage assigned to these factors varies between the two CICs. This Experian and CIBIL difference could also affect the credit scores provided by them.

Experian vs CIBIL: Pros and Cons of Each Bureau

Each of the credit bureaus has distinct strengths for assessing creditworthiness. Let’s look at the pros and cons of Experian vs CIBIL one by one. 

Experian Pros and Cons

Pros: Collects data from wider sources including telecom and utility companies, global expertise, and faster updates. 

Cons: Lower lender adoption and limited historical depth compared to CIBIL. 

CIBIL Pros and Cons

Pros: Has a dominant market position with over 90% acceptance among Indian lenders. It has deeper historical data, stronger relationships with traditional lenders, and is widely recognised as India’s trusted credit bureau.

Cons: Slower updates, stricter for new borrowers, and scoring model specifically designed for Indian markets.

How can you address the difference between CIBIL and Experian scores?

Due to the different ways CIBIL and Experian collect and calculate their data, there may often be discrepancies between the credit scores they provide. To rectify these, individuals can take specific steps:

– Keep the necessary documents handy. This could include payment receipts, account statements, and others.

– Each bureau has specified steps for submitting grievances. For example, Experian can be contacted via phone, email, or online to get support, and CIBIL offers online resources and contact points.

– Present your problem in detail, with the necessary proofs and documents.

– Remember to follow up on the issue every few days until it is resolved.

How to Check Experian and CIBIL Score Online (Step-by-Step)

Here is a step-by-step process of how to check Experian score online:

• Go to Experian India’s official portal at experian.in.
• Locate the credit score access button positioned in the upper right corner of the homepage. 
• Sign in using your registered mobile number and password. First-time users should select the registration option to create an account.
• Authenticate your identity by submitting the OTP received on your phone.
• Provide the necessary personal details as requested and proceed through the verification steps.
• Once completed, your Experian credit report will be generated and displayed for your review.

Follow these steps to check your CIBIL credit score:

• Navigate to the CIBIL official website at cibil.com.
• Look for and select the option to access your free credit score and report.
• Enter required personal information including your full name, email ID, Permanent Account Number (PAN), and birth date.
• Complete the authentication process by entering the one-time password (OTP) delivered to your registered mobile number.
• Access your dashboard to review your credit score and comprehensive credit report.
• CIBIL offers one free annual report viewing. For more frequent monitoring, paid subscription plans are available.

Experian vs CIBIL: Which Score Do Lenders Prefer?

Experian and CIBIL are well-established, equally valid CICs. Lenders across the country widely accept their credit scores. Due to RBI mandates, both CICs receive the same information from lenders. However, most credit institutions consider CIBIL the standard in India, giving CIBIL scores an edge in the Indian market.

উপসংহার

Credit scores are crucial to an individual’s financial life. Healthy financial habits like creating and sticking to a monthly budget, repaying loans and credit cards on time, and having a low credit utilisation ratio can ensure your credit score remains high, whether you choose CIBIL or Experian.

Seeking guidance from experts can also help you achieve your financial goals. For expert advice and guidance regarding your finances, visit the Tata Capital website or download the app today!