Check your credit report on Google Pay

Google Pay now has a feature for you to get your credit report powered by TransUnion CIBIL. When you fetch your credit report on Google Pay, it gives you recommendations on what you can do to improve your score. You can update your credit report monthly.

Create a credit report

1. Open the Google Pay app .
2. At the “Manage your money” section, tap Check your CIBIL score for free.
3. Follow the on-screen instructions.

If you’re a first-time user, you need to provide your:

• Full name
• Phone number
• Email ID (optional)
• PAN (optional)

Tip: If you check the credit score on Google Pay, it doesn’t impact your credit score.

FAQs

What is a credit score

A credit score is a 3-digit number that represents your credit worthiness. Lenders use credit scores to determine:

• If they can trust a user to pay back a loan or credit card bill
• If they can grant a loan or issue a credit card
• The interest rate of a loan or type of credit card

Tip: The higher the credit score, the better for the borrower.

Why you should track your credit score

• When you have a good credit score, it helps you get better interest rates on loans and better credit cards.
• When you track your credit score on Google Pay, it gives you actionable recommendations to improve your credit score.

Interpret your credit score

There are different rankings depending on your credit score:

• Sub prime or poor: Less than or equal to 680
• Near prime or average: 681 to 730
• Prime or above average: 731 to 770
• Prime plus or good: 771 to 790
• Super prime or great: 791 and above

You can find the different parameters that affect the credit score in the app.

What you can find in your credit report

You can view the following information in your credit report for all your credit products:

• On-time payments:
  • Total number of payments considered
  • Total number of delayed payments
  • Specific details of delayed payments, like the last 4 digits of the account number, bank name, or the month when the payment was delayed
• Credit limit utilization:
  • Limit for each account
  • Percentage utilization for each account
• Credit inquiries: Users can find all the inquiries that lenders made about them.
  • Name of the bank or financial institution that checked the credit report
  • Date of inquiry
  • Inquiry purpose

You can find a consolidated list of accounts that CIBIL has used to calculate the score. This includes:

• Name of the bank or financial institution
• Account type, like credit cards and personal loans
• Other details of the account, like Date created and Last update date from your bank

Get notifications for new credit reports

CIBIL refreshes your credit score and updates the report monthly. When a new credit report is available, Google Pay notifies you.

Check if your credit score report are accurate

All the data you see in your credit report is based on the information shared by your bank or financial institution to CIBIL. If any information in your credit report is incorrect, you can report it to CIBIL. On the CIBIL website, create a ticket.

Check the impact of different actions on your credit score

Google Pay and CIBIL let you see how your actions may impact your score. This is personalized to help you plan your actions better.
To assess the impact on your score:

• Clear a pending payment, or prepay a loan EMI or credit card balance:
  You can select a specific account or all accounts. If you select a specific account, enter an amount only up to the utilized amount, like a card balance or pending EMIs.
• Get a new loan or credit card:
  • Auto loan: ₹1 Lakh – ₹20 Lakh
  • Home loan: ₹10 Lakh – ₹5 Crore
  • Personal loan: ₹5000 Lakh – ₹10 Lakh
  • Credit card: ₹20,000 Lakh – ₹15 Lakh
• Choose from auto, home, or personal loans and credit cards, then enter the credit limit or loan amount.