With major payment apps offering free credit score checks, the Indian financial environment has shifted toward transparency. Credit card holders and debtors who paid Rs. 500 to Rs. 1,000 to access their credit reports through banking applications will applaud this development. This increased accessibility allows people to monitor their creditworthiness often and for free, taking more control over their finances.
Free Credit Score Checks Empower Borrowers
Before this, getting a credit report was complicated and expensive. Credit scores were obtained directly from credit bureaus or via banking apps with costs. This restricted access impaired financial awareness and creditworthiness assessment.
Free credit score checks using Paytm, Google Pay, and PhonePe promote financial empowerment. Here’s how to use this feature on each platform:
Credit Score Check on Paytm:
- Download/Login: Install the Paytm app on your phone and log in with your credentials.
- Go to “Loans & Credit Cards”: Find the app’s loan and credit card area.
- Find “Free Credit Score”: Look for “Free Credit Score” or a similar option in Loans & Credit Cards.
- Accept terms and conditions: The platform’s terms and conditions may require you to accept before viewing your credit score.
- Your Score and History: Your credit score and credit history should appear shortly when you agree to the terms.
Credit Score Check on Google Pay:
- Install and Login: Install the Google Pay app and log in with your Google account or create a new one.
- Find “Check Your CIBIL Score”: Scroll through the app’s UI to discover “Check Your CIBIL Score for Free” or something similar.
- See Your Score (Initial Use May Need Details): Choose the option to see your CIBIL score. On your first attempt, you may be asked for more verification information.
Credit Score Check on PhonePe:
- Install/Login: Install the PhonePe app on your smartphone and log in using your registered phone number or establish a new account.
- Go to “Credit”: In PhonePe, find the credit services area. This might be “Credit” or equivalent.
- Tap “Check Now”: View your credit score under credit. It may say “Check Credit Score” or “Check Now” with your CIBIL score.
