Bureau related

A credit bureau report is a document that provides detailed information about your credit activity and current financial status, including your loan repayment history and the status of your credit accounts.

Your credit score is a number that represents your creditworthiness. It is based on previous loans that you might have taken, your credit card usage patterns, as well as your promptness in paying back any loans/credit card bills on time.

During the process of applying for a loan, you will need to allow us to pull your credit report to assess your overall creditworthiness. This report will be kept private. It will not affect your credit score.

Positive impact:

- Consistent and timely repayment of loan EMIs can improve your credit score over time.

- A good repayment history demonstrates creditworthiness, leading to a stronger credit score.

Negative Impact:

Your credit score gets affected only if you’re not able to pay back the loan EMIs on time or if you miss payments altogether.

No, your credit score will not be affected if your loan application is rejected. But if you have had several loan enquiries with multiple lenders in a short span of time, it may affect your credit score. However this can only temporarily lower your credit score, as it may indicate to lenders that you are taking on too much debt or experiencing financial difficulties.

Yes, there will be a credit report enquiry made whenever you apply for a loan. This credit report will reflect enquiry only after you submit the loan application.

We advise our customers to check their credit report directly from the official website of the credit bureau  (TransUnion CIBIL, Experian, Equifax, and CRIF) instead of using third party websites that usually offer free credit reports. The official website of the credit bureau provides the most up-to-date and accurate information.

We encourage you to check your bureau reports status directly from the website of the credit bureau instead of any third party websites providing this for free.  Their reports are generally not real-time updated. Further, credit bureau reports are based on the data provided by member institutions and hence any correction in the report should be confirmed by the respective financial member institution.

The customer’s payment information is sent to the bureau once every month as per current practice. It generally takes 30-45 working days to update this information. In case of any discrepancies, please feel free to write to us at cs@truecredits.in.

We have an automated Credit Information Company (CIC) reporting process in place to ensure seamless updates to your credit report. Once a repayment is made against a loan or when a loan is closed, it is automatically reported to all four CICs (credit bureaus) at periodic intervals according to their prescribed schedule.