We’ve all become used to tracking our health: wearing fitness bands, using apps to count steps, monitoring sleep patterns, or checking heart rate regularly. Just like your physical health, your financial health also needs regular check-ups—and one of the most important tools for that is your credit report.
Many people have taken loans or used credit cards, but a surprisingly large number of them never check their credit report. mint
Even though credit bureaus, banks, and financial service apps make obtaining your credit report easy (sometimes for free), awareness and usage aren’t where they should be. mint
As of the article’s writing: there are about 59 crore (590 million) Indians who have used consumer credit loans at some point, but very few have ever accessed their credit report. mint
Early detection of errors or fraud
Your credit report shows loans you’ve taken, repayment history, defaults, etc. But it also shows basic personal info—name, address, etc. If there’s a mistake, wrong entry, or even identity theft, you’ll catch it early. mint
Understand your credit behaviour & score
The report shows how you’ve used credit, not just how much. How often you miss payments, how much of your credit limit you use, timing of repayments—all affect your score. A healthy credit score (in India, typically 300–900) makes it easier to get loans at better interest rates. mint
Better terms & opportunities
Lenders use credit reports to decide whether to offer you credit—and at what rate. Having a good history means you’re more likely to get favorable loan terms. Also, in some cases, credit reports are being used beyond just loans: background checks for jobs, verification procedures, etc. mint
Financial “self-care”
Just like you go for regular health check-ups, financial well-being requires periodic checks. Checking credit reports should be part of your financial routine. It helps you stay ahead of issues rather than being blindsided. mint
Here are ways you can access your credit report:
Go to the websites of any of the authorized credit bureaus in India (like CIBIL, Equifax, CRIF High Mark, etc.), log in via your identity (PAN/Aadhaar etc.) and apply for the report. Every bureau is required to provide at least one free credit report per year. mint
Some banks’ net-banking or mobile apps provide access to your credit report as part of their services. mint
Financial / payments apps sometimes integrate this feature too. mint
Regularly review the report and correct any mistakes (wrong loan listings, wrong contact / demographic data, etc.).
Make payments on time. Even small delays can degrade credit history.
Don’t take on more credit (loans or cards) than you need. Unnecessary credit inquiries or unused credit can affect things.
Keep credit utilization (how much you use vs how much you have available) in check.
Avoid defaults. If something slips, try to settle it or negotiate—it reflects on your report.
Your credit report isn’t just a document lenders look at—it’s a mirror of how you’ve handled credit over time. Neglecting it can cost you money (via higher interest, loan rejections) or even leave you vulnerable to fraud. Treat it like your health: periodic check-ups, vigilance, and prompt corrective action when needed.
