Checking your credit score at regular intervals is a good way to keep a check on your financial behavior. If you are searching for Equifax check credit score, read ahead to know more about it.
The credit score is a 3-digit score that is representation of the creditworthiness of a borrower. It ranges from 300 to 900 and a higher score is considered better.
Credit information bureaus collect information about repayment patterns and credit behavior of customers and collate it into a credit report. Lenders can refer to these credit scores and reports to help them understand the risk involved in approving credit.
Equifax is one of the top four credit information bureaus in India. It is recognized by the Reserve Bank of India and the Securities and Exchange Board of India. The score generated by Equifax is known as the Equifax credit score.
If you are searching for an ‘Equifax check credit score’, you are at the right place. You can easily check your Equifax credit score and report online for free. To do so, follow the steps given below -
The Equifax credit score, like other credit scores in India, ranges from 300 to 900. A higher score is always considered better, but any score about 700 or 750 is enough for most credit products. The ideal credit score, however, depends on the type of credit you are applying for.
Here is a detailed breakdown of the various ranges of the Equifax credit score and what they mean -
Equifax Credit Score Range | Meaning |
---|---|
800-900 |
Exceptional |
740-799 |
Very good |
630-739 |
Good |
580-669 |
Fair |
300-579 |
Poor |
Track Your Credit Score in Seconds
Equifax is headquartered in Atlanta and it started its operations in India in 2010. It is a well-recognized credit information bureau used by various banks, NBFCs, and lending institutions.
Please note that even though a good credit score is a huge factor in procuring a loan, it is not the only one. Other factors like your income, job stability, relationship with the lender, debt-to-income ratio, etc. all play a role in getting a loan.
You can easily build a better Equifax credit score by making timely payments, monitoring your score regularly, and planning your loans in advance. In case you are new to credit and don’t have a high credit score, you can still get instant personal loans from Moneyview. To know more, check out our website or download the Moneyview app.
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