CRIF Highmark is one of the leading credit bureaus in India that was approved by the reserve bank of India to provide its services in the country. It collects the data of individuals as well as corporates and prepares their credit reports on the basis of their payment history, credit utilization, and several other factors as reported by several financial institutions. With its excellent services, CRIF has become a trusted credit agency and the report generated by the bureau is followed by various financial institutions and credit grantors. To know more about the CRIF Highmark credit report and how to apply for it, go through the detailed information given below:
What is CRIF Highmark Credit Score?
The CRIF Highmark credit score is a three-digit credit score calculated by the credit agency, CRIF Highmark. This score ranges between 300 and 900, where 300 represents the lowest score and 900 represents the highest one. Your CRIF Credit score is calculated based on your past payment behavior as reported by different financial institutions from which you have been availing the credit facilities. Here is how your credit card issuers or money lenders understand your financial behavior by looking at your credit score:
- A CRIF score ranging between 300 and 549 is considered poor and an individual having such a score seems to be a very risky borrower to the bank. It generally means that the individual misses or delays payments almost every time.
- A CRIF credit score ranging between 550 and 649 is considered fair and represents an individual who struggles a lot to repay his dues or even misses payments several times. With this core, some financial institutions may trust you and some may not, but it is very sure that you will get loans and credit cards with high-interest rates.
- A CRIF credit score between 650 and 749 is considered good and having this score increases your chances of getting loans and credit cards with great deals. This score represents an individual with decent payment behavior whom the financial institutions can trust.
- A CRIF credit score between 750 and above is considered excellent and an individual having this score seems to be the best customer to any financial institution. With such a score, one can easily get any credit card or loan with the best deals and the lowest interest rates.
How to Get Your CRIF Highmark Credit Report & Score?
You can request your CRIF Highmark credit report online by following a few simple steps as mentioned below:
- Visit the official website https://cir.crifhighmark.com/.
- Click on ‘get your report now.’
- Fill in the application form with all the required details.
- Provide all the necessary documents to verify your identity.
- Review your report type and submit the application.
CRIF Highmark provides all its customers with one free credit report every year. To get more than one CRIF credit report along with a credit score, you will have to pay Rs. 399 and to get a CRIF Highmark credit report without a credit score, you will need to pay Rs. 99 for every report.
How To Raise a Dispute Against an Error in Your CRIF Credit Report?
It is essential to make sure that every single piece of information on your credit report is correct as it determines your credit score. So, if you find any inaccuracy in your CRIF credit report, here is how you can get it corrected:
- Note down your reference number from your CRIF credit report. You can find it in the top right corner of your report.
- Write an email explaining the inaccurate information in your report along with your name and contact number with your reference number as subject.
- Send this mail from your registered email id to [email protected]
- You will get a ticket number on your email id.
- Your issue will most probably be resolved within 30 days of receiving your request.
- The ticket will be closed once your report has been corrected.
If you are not satisfied with the response or if your issue is still not resolved, you can contact the nodal officer through the contact details given below:
- Name of the nodal officer – Anshul Dixit.
- Email Id: [email protected]
- Tel. No.: +91-020-6715 7790.
Factors That Affect Your CRIF Credit Score
- Payment History – Your payment history is the most important factor that is taken into consideration by the credit bureaus while calculating your credit score. It makes 35% of your credit score and hence missing or delaying your payments can impact your credit score badly.
- Credit Utilization Ratio – Credit utilization Ratio is the ratio of your spent amount to your total credit limit. A higher credit utilization ratio can affect your credit score badly. Therefore, it is advisable to use only 30% of your credit limit and not more than that unless it is an emergency.
- Credit History Length – The length of your credit history, i.e., the average age of your credit accounts also affects your credit score. You should try to keep your credit account open even if you don’t use them anymore so that you can maintain a good length of your credit history.
- Credit Mix – In order to achieve a good credit score, it is advisable to have multiple types of credits rather than having just one. It means you must try to maintain a healthy credit mix by taking personal loans, credit cards, home loans, etc instead of using only credit cards for all purposes.
- Number of Hard Inquiries – Whenever someone other than you checks for your credit report, it is known as a hard inquiry on your credit profile. A large number of hard inquiries on your profile within a short time period can have a negative effect on your credit score. So, you should try to avoid applying for so many loans or credit cards at the same time.
Checking your CRIF report regularly can not only help you in keeping yourself updated but also in improving your credit score by avoiding the mistakes you have been doing so far. Moreover, you must try to make all the payments in time and keep the other important points in mind to maintain a good credit score that can help you a lot in your credit journey. If you have any queries regarding the information provided above, you can freely ask in the comment section below.