The introduction of free credit score checks by major payment applications in India marks a significant step towards financial transparency and empowerment for users. Previously, accessing credit reports often incurred fees, but with this new feature, users can conveniently monitor their credit health without any additional charges. Here’s a breakdown of how to check your credit score for free using Paytm, Google Pay, and PhonePe:
Paytm:
1. Install Paytm: Download and install the Paytm app on your smartphone.
2. Log in or Sign up: If you’re an existing user, log in. Otherwise, sign up for a new account.
3. Navigate to Free Credit Score: Look for the ‘Free Credit Score’ option under the ‘Loans & Credit Cards’ section.
4. Agree to Terms: Accept the terms and conditions for accessing your credit score.
5. View Credit Score: Once agreed, you can instantly view your credit score along with detailed credit history.
Google Pay:
1. Install Google Pay: Download and install Google Pay from the respective app store.
2. Log in or Create Account: Log in with your existing Google account or create a new one.
3. Check CIBIL Score: Scroll to find the ‘Check your CIBIL score for free’ option and select it.
4. Provide Additional Details: For initial use, you might need to provide some additional details.
5. View CIBIL Score: Your CIBIL score will then be displayed to you.
PhonePe:
1. Install PhonePe: Download and install the PhonePe app on your device.
2. Log in or Register: Log in if you have an existing account or register for a new one.
3. Navigate to Credit Section: In the ‘Credit’ section of the app, tap on ‘Check Now.’
4. View CIBIL Score: Your CIBIL score will be displayed to you once you complete the steps.
In a significant move towards financial transparency, major payment applications in India have introduced a feature allowing users to check their credit scores without any charges. This development comes as a relief to credit card holders and borrowers who previously faced fees ranging from Rs 500 to Rs 1,000 for accessing their credit reports through banking applications. If you want to check your credit score for free, here is a step-by-step guide on how to check your credit score for free on Paytm, Google Pay, PhonePe.
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