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What is CRIF Highmark Score?

 

Overview of CRIF Highmark

CRIF Highmark is another one of the four main RBI-licensed credit bureaus in India. It is the first full-service credit information bureau of India which covers credit information related to all major borrower segments – retail consumers, micro-finance borrowers, MSMEs and commercial borrowers, across rural and urban areas of the country. Armed with an extremely large database of businesses and individuals from 4000 different financial institutions, CRIF Highmark offers useful credit information services and facilitates millions of lending decisions per month.

Highmark came into being as a start-up credit bureau back in 2007, aimed at setting up the most inclusive and comprehensive credit bureau of India. It began its credit bureau operations in March 2011 after receiving the Certificate of Registration from RBI in 2010. Later on in mid-2014, CRIF bought the majority stake in Highmark, renaming the company as CRIF Highmark Credit Information Services. Other than CRIF, the other prominent investors in CRIF Highmark are Punjab National Bank, State Bank of India, Shriram City Union Finance, Edelweiss, SIDBI and more. 

CRIF Highmark provides two different types of credit scores – a personal credit score for individuals and business/commercial credit score for businesses to interested people/businesses. This score is a 3 digit number derived from the credit activity of the individual or business, and ranges from 300 points to 900 points. A score of 700+ points is generally perceived as good in the eyes of lenders.

Who all use CRIF Highmark score?

CRIF Highmark score and CRIF credit report is actively used by a great multitude of lending establishments, including banks, NBFCs and other financial institutions to gauge the financial stability and creditworthiness of the loan/credit applicant.

Many individuals also regularly access this score and report to update themselves about their credit profile. The idea is to use such information to take corrective measures, so they can improve their credit score and be in a better position to apply for a loan or credit in the future.

Understanding CRIF Highmark Report

CRIF Highmark credit report contains all the information related to an individual’s credit history, repayment behavior and accounts, including credit card details, credit accounts, past loans, recent enquiries, identity-related information, written off loans, settled loans and more. As mentioned above, it is created on the basis of data received from member banks and financial institutions which are on board with CRIF Highmark.

How to get CRIF Highmark Report?

You can obtain your CRIF Highmark report from the official website of the credit bureau in 3 seamless steps:

  • Provide your personal details, ID proofs and address details
  • Review the report type you’re interested in
  • Authenticate your enquiry using your Aadhaar number or PAN card number

Please note, as per an RBI order in 2017, it is mandatory for all Credit Information Companies (CICs) to offer one free-of-cost credit report (along with credit score) to all individuals in each calendar year, upon request. Hence, you can obtain one free CRIF Highmark credit report per calendar year.