CIBIL score on Google Pay: Here's how you can check your credit score
Google Pay's CIBIL score tracking provides actionable suggestions to improve your credit score, enabling you to make informed financial decisions and improve your credit health. The new feature allows users to easily check their CIBIL score for free, right within the Google Pay app.
Google Pay has emerged as a premier online platform offering a multitude of services, ranging from facilitating payments to executing money transfers, online shopping, and mobile recharges. After its latest collaboration with TransUnion CIBIL the leading online payments platform is offering a new feature that allows users to easily check their CIBIL score for free, right within the Google Pay app.
CIBIL Score and its significance
A CIBIL score is a three-digit number ranging from 300 to 900, which represents an individual's creditworthiness based on their credit history. It plays a crucial role in lenders' assessment of the likelihood of loan repayment. A higher CIBIL score indicates good financial discipline and improves the chances of loan approval, often with better interest rates.
Regularly monitoring your credit score is important as it impacts loan approvals, credit card issuance, and even employment opportunities. Now with the Google Pay app, it is easier to stay informed about your financial health and work towards improving your credit score.
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Google Pay's CIBIL score tracking provides actionable suggestions to improve your credit score, enabling you to make informed financial decisions and improve your credit health. In this spectrum of scores, those below 680 are considered subprime or poor, while those with 791 and above fall into the super prime category.
How to check CIBIL Score on Google Pay?
Thanks to Google Pay, checking your CIBIL score is free and straightforward, and won't affect your current score. Here are the steps to do so:
- Open the Google Pay app on your device.
- Navigate to "Manage your money".
- Tap on "Check your CIBIL score for free".
- If you are a first-time user, provide your full name, phone number, email ID (optional), and PAN (optional).
- After completing these steps, your credit report will be created. You can then view your CIBIL score and receive personalized recommendations for improving it.