Whenever you apply for credit, be it a loan, credit card, or mortgage, banks and financial institutions primarily assess your creditworthiness based on your CIBIL score. Credit reports and CIBIL scores serve as indicators for financial institutions to assess your ability to pay off debts on time. The main importance of your CIBIL score lies in the risk evaluation process of both you as an individual and your assets. While maintaining a good CIBIL score is necessary, it can be challenging to understand how it works and how to improve it. This is where Bajaj Finserv Credit Pass service comes in.
Bajaj Finserv Credit Pass is a credit monitoring service that helps you track your CIBIL score and report in real time if you fulfil credit pass eligibility. The service provides monthly updates on your CIBIL score, so you can keep track of your credit health and identify areas that need improvement. Credit Pass is an innovative solution enabling you to control your financial future by providing the necessary tools to monitor and manage your CIBIL score.
Credit Pass Eligibility criteria
- Indian Resident: For Credit pass eligibility, you must be a resident of India. If you’re not a resident of India, you won’t be eligible for Credit Pass. However, you can still monitor your CIBIL score and report by requesting a free credit report from the other credit bureaus.
- Valid PAN Card: For Credit pass eligibility, you must have a valid PAN card to sign up for Credit Pass. PAN card will verify your identity and link your credit report to your account. Ensure you provide accurate credit pass documents to avoid any issues with your credit report.
- Valid Email ID and Phone Number: For Credit pass eligibility, you must provide a valid email ID and phone number. This information is required to create your account and send monthly updates on your CIBIL score and report. Make sure you provide accurate credit pass documents to avoid missing out on important updates.
Steps To Sign Up for Credit Pass
- Visit the official Bajaj Finserv website bajajfinserv.in/credit-pass and search the ‘Credit Pass’ tab.
- Click the ‘Get It Now’ button.
- Enter your mobile number. You will receive an OTP on this mobile number.
- After successfully validating your mobile number, a new page will open.
- Fill in your details, like name, phone number, email address etc.
- Accept Terms & Conditions
- Pay a one-time subscription fee of Rs 99 to activate your Credit Pass.
- Once the payment is confirmed, you can access your Credit Health Report and other benefits the Credit Pass offers.
Ways to Improve CIBIL Score
- Make Timely Payments: Your payment history accounts for a substantial part of your credit score. Set up automatic payments or reminders to guarantee you never miss a loan EMI or credit card dues payment.
- Reduce Your Credit Utilisation: Credit utilisation refers to the amount of credit used compared to your available limit. Keeping your utilisation below 30% can help maintain a healthy credit score.
- Don’t Apply For Too Much Credit At Once: Multiple inquiries within a short period can negatively impact your credit score. Be selective when submitting applications.
- Maintain Your Existing Credit Accounts: Your credit history is integral to determining your score. Keeping old accounts open can help boost your score by maintaining good credit habits.
Importance and Advantages of Using Bajaj Finserv Credit Pass
Bajaj Finserv Credit Pass is an excellent tool for those who want to improve their CIBIL score and manage their finances effectively. If you fulfil Credit pass eligibility, this service allows users to access credit health reports and receive personalised insights and recommendations on improving their CIBIL score, including the convenience of a ‘pan card CIBIL score check online free.’ The advantages of using the Bajaj Finserv Credit Pass with accurate credit pass documents are numerous. First and foremost, it provides various credit and financial management benefits. This service helps users stay on top of their credit health and provides personalised financial guidance. Moreover, as a member, users can access exclusive loan and credit card offers and priority customer service. Additionally, users receive alerts and notifications about changes to their CIBIL score or credit report, helping them stay informed about their credit health and take timely action if required.
Bajaj Finserv Credit Pass subscription service is an ideal solution for those who pass Credit pass eligibility and seeking to maintain a healthy CIBIL score and safeguard their financial future. Credit Pass helps users by offering real-time reports, personalised insights and recommendations, as well as customised loan and credit card offers. Bajaj Finserv Credit Pass subscription offers interactive tools and helps users in credit management skills and maintain a good credit history. By providing a credit score and a detailed credit report analysis, Bajaj Finserv enables you to make informed decisions about your finances and access credit products that suit your needs.