Difference between CIBIL Report, CIBIL and Credit Score

Some banking terms related to bank credit used frequently such as credit score, CIBIL score, CIBIL report etc are very confusing. In this article, we will learn the difference between these inter-related terms.

CIBIL score

The Credit Information Bureau (India) Limited (CIBIL) is the most well known among all other credit information companies and cibil score is the most commonly used credit score in India. CIBIL score is a three- digit numeric summary of a person's credit history, report and ratings. It ranges from 300 to 900. A Good credit score is closer to 900. It purely depends upon your previous credit behaviour.

Credit score

Credit score determines a person's creditworthiness or capacity of repaying the loans. It is based on your credit history and records. A good credit score determines that you are able to repay the loan on time.
The one and only difference between CIBIL score and credit score is that Credit score is given by four credit bureaus whereas CIBIL score is given by CIBIL only.

What is a CIBIL Report?

CIBIL report or Credit Information Report (CIR) is a collection of a person's credit records or history. CIBIL includes all the personal information like PAN,name, address, gender etc.

Difference between CIBIL Score and CIBIL Report

• CIBIL report is the report created by CIBIL in which all details related to CIBIL score, loans and payments whereas CIBIL score is the score provided by CIBIL ..
• CIBIL score calculates past 24 months of your credit behaviour while CIBIL Report calculates the last 36 months of your credit history.
• To be eligible for a CIBIL Score, a person must have six months of credit history . A consumer who has never had credit, however, might not have enough data or credit history to produce a CIBIL score whereas a CIBIL Report is a more detailed look of your credit history such as days past due on outstanding loans payments, warning signs on loan accounts, etc is shown in your report.