Paytm, the brand owned by One 97 Communications, India’s largest digital payments company today announced that it is now offering free credit score check to its subscribers on its mobile app. Paytm subscribers can click on ‘My Credit Score’ under their user profile section to check their credit score in under a minute.
In addition, users also get a detailed credit report on their registered email address containing details of their credit utilizations and repayment history, based on the age of the credit accounts. Using this subscriber can ascertain their credit rating which has become the standard of approval for most credit card and loan providers.
This report also gives a snapshot of all the active credit card and loan accounts in the name of the subscribe, along with useful tips on how to improve their credit sore and more.
Basis the credit score, subscriber’s also get instant and exclusive offers including subscription to Paytm Postpaid, wherein they can enjoy hassle-free credit of up to Rs 30,000 each month.
How to Check your Credit Score in Under a Minute: –
·Login to your Paytm app and navigate to the app settings tab by pressing the “hamburger” key on the top left corner.
·Scroll down to “My Credit Score” tab
·Enter the requisite detail such as your name, registered email address and phone number and submit
·A snapshot of your credit score will be shown on your screen. You can access this at any time from within the Paytm app, you do not need to generate your report every time.
Frequently Asked Questions (FAQs)
ü Q1. My Credit Score on Paytm is different from the Credit Score on other websites/apps
This might be due to two reasons:
There are 4 Credit Bureaus in India & Credit Scores fetched from different Credit Bureaus will differ (yes, different bureaus score you differently).
Credit Scores fetched from the same Credit Bureau but on different dates might also differ. Between the two dates, updated credit history (account status change, new account, repayment etc.) is incorporated in your Credit Report. At times, even if nothing changes in an account, just the time gap between the two reports can also lead to different scores.
ü Q2. Credit Card(s) or Loan account(s) missing from the list shown on Paytm
Credit/Loan accounts where you gave your PAN to your lender, are available in your Credit Report through Paytm. This is because we use you PAN as one of the key identified to generate the credit report.
ü Q3. What should I look for in my Credit Report?
You should check following details in your Credit Report
o List of credit accounts and corresponding statuses
o Credit card bill and loan EMI repayment history
o Personal details associated with each credit account
ü Q4. My credit card or loan account status or details in the Credit Report are shown incorrectly
You should immediately report your issue to the concerned bank or lender.