- HOW IT WORKS?
- Credit Score & Report
- Credit Bureaus
An Experian credit report has the entire credit data related to the individuals who have opted for collecting the credit report from Experian. Some basic steps are to be followed for the purpose of getting an Experian credit report.
Experian Credit Report for Consumer
Credit report is one of the most important documents that are required to decide whether an individual will be provided credit or not. It is significant to develop a credit score that is sufficient to get credit. Another important thing is to make sure that the Experian credit report belonging to you does not have any error or wrong information, as this will cause a drop in the chances of you getting a loan.
An Experian credit report includes the credit history of an individual and also the data that is provided to the banks and other institutions that are related to finance.
The following are the things that are included in the Experian credit report:
- Credit Information related to individuals
- Applications related to the credit of individuals
- Entire credit history of an individual’s loans or credit cards
- After the payment of the necessary fees, individuals can read their Credit Report from Experian
- By paying some fees, the lenders also can check the credit report of some specific customers
If you are an individual who is willing to take credit, then your credit history is the factor that helps in determining your creditworthiness to the lender. The credit history of individuals is usually known to be the deciding factor for the rate of interest of the loan as well as the terms and conditions related to the loan.
An Experian credit report is helpful in comprehending the credit history of an individual. With the help of a credit report, an individual is able to get control over the financial information and take decisions smartly so that the individual protects himself from the probability of fraud or identity theft.
Significance of Experian Credit Score
An Experian Credit Score is obtained from the credit report. The lending authorities choose to provide credit to such individuals who have credit score that is higher than the other individuals.
Process to Obtain an Experian Credit Report Online
There are certain steps to be followed for obtaining an Experian Credit Report by an individual.
- An individual can get the Experian credit reports online after making a payment of Rs.400.
- The next step is to enter the required details and provide answers to certain questions so that proper authentication can be done.
- After the completion of the steps that are necessary, the Credit Report from Experian can be seen online and you will be sent the report’s copy in your inbox.
- To make sure that your authentication has been properly done, you need to send some more documents to the credit bureau.
- The documents that are required for verifying that the authentication has been done properly are address proofs, id proofs etc.
Experian Credit Report FAQs
1. Is it required to pay to get the credit report?
Yes, it is required to pay to get the credit report. As of now the amount to be paid to get the credit report is Rs.138. The amount to get the report is Rs.100 and the amount incurred to send the report through a speed post is Rs.38. Therefore, overall an amount of Rs.138 needs to be paid to get the credit report.
2. How can an individual pay for their credit report?
There will be 3 options for the payment of credit report. One is through NEFT (Bank), NEFT (Net Banking) and a DD.
3. How can an individual apply for their Experian credit report?
An individual can apply for their Experian credit report by filling up the form for the application of credit report and then send this form to Experian. After receiving the information, Experian validates the information related to that individual and then the credit report is sent.
4.What are the documents that can be given as ID Proof?
An individual’s voter ID card, PAN Card and Passport can be given as ID Proof.
5. How much time does it take to get the report?
It usually takes around 20-25 days to get the report. This duration is calculated by considering the date of receipt of an individual’s application till the report has been sent to an individual.
6.How many number of times can an individual ask for their credit report?
An individual can ask for their credit report for any number of times. Because each report will have basic price of Rs.138. Therefore, there is no limit set for the number of times an individual can ask for a credit report.
7. Can the request for a report be cancelled once the papers have been sent?
No, the request for the report cannot be cancelled once the papers have been sent. This is so because the application is processed by the company and the report is sent to you in the time frame that was mentioned earlier.
8.How can the demand draft payment made for an Experian credit report?
It is to be made sure that the DD is in the name of ECICI Pvt. Ltd with the amount that mentioned in Experian website.
9. How can the NEFT payment be done for the Experian Credit Report?
The following details have to be kept in mind while the NEFT payment for the Experian Credit Report.
- The NEFT Payment should be done using Citibank
- The exact name that should be mentioned in the NEFT Payment is ECICI Pvt. Ltd
- The IFSC code that has to be mentioned is CITI0100000
- The account type should be current in nature.
10. What is the way to make the payment through the bank?
You should approach any bank and request a form for NEFT. The next step is to fill the details asked in the form and make the payment to the bank.
11. Is it required to provide some more documents?
Yes, it is required to provide with some more documents apart from the application form for the credit report. These documents are your address proof and your ID proof.
12. How do I finally get my Experian credit report?
After filling up the form and paying the appropriate amount, it is required to send the complete details to Experian. This can be done through courier or post.