Frequently Asked Questions (FAQ)
Frequently Asked Questions (FAQ)
Frequently Asked Questions (FAQ)

 

 

General

  • What is a Credit Bureau/Credit Information Company?

    A Credit Bureau/Credit Information Company (CIC) is an independent organization licensed by the Reserve Bank of India (RBI) that signs up Banks, NBFCs and financial institutions as its members and compiles, collates and provides information from credit grantors and other (private and public) sources regarding individuals' credit applications and payment behavior.
  • What are the roles of a Credit Bureau?

    • Promote and facilitate a data sharing culture amongst the subscribers
    • Help the credit grantors to reduce the risk of loan default and support fraud prevention
    • Protect consumer against over-indebtedness by allowing for responsible lending by the grantors
  • Does a credit bureau give a decision on whether to lend or not?

    No, a credit report is only a statement of fact as reported by the credit bureau's members. Lending decisions are taken by member institutions that access these reports and may differ from member to member.

Credit Report

  • What is a credit report?

    A credit report is a record of your credit history that includes information about Personal data, Summary of credit history, detailed account information and Inquires into applicant's credit history which helps lender in determining a loan applicant's creditworthiness.
  • What segment Credit Report CRIF High Mark provide?

    CRIF High Mark is the Only Full Service Bureau in India that caters all the three segments viz.

    • Commercial / MSME
    • Retail
    • Rural / Microcredit
  • How do a members access the CRIF High Mark Credit Report?

    A set of steps to be followed for accessing credit report of the borrower

    1. Click on the link: https://members.highmark.in/Inquiry/Inquiry/WebPortal.action
    2. User to provide certain mandatory information to access the report, such as name, address, and identity proof detail etc.
    3. After login use the following path to access the reports.
      • Consumer Bureau > Single Request > BASE Report with Score 2.0
      • MSME & Commercial > Single Request > Commercial ACE+ Report
      • Rural & Microfinance > Single Request > MFI Overlap Report –Base
    4. Submit inquiry after filling in details in the Inquiry Input Screen (fields highlighted in yellow are mandatory)
    5. For any queries please contact mail to: productsupport@crifhighmark.com
  • What is the duration for which records are displayed by bureaus?

    All repayments, identifications and address information is updated on a credit bureau and records are maintained for a period of 36 months.

  • Does the credit bureau decide whether to grant me credit?

    No, credit bureau just provides the reports and lending decision is taken by credit grantor/financial institutions.

  • How long does negative information, such as late payments, stay on my credit report?

    Negative credit information stays on your credit report for a period of 3 years from the most recent date of reporting (Info As On) till EITHER 36 months in the past OR till the disbursed date.

Credit Score

  • What is a credit bureau score?

    A credit bureau score represents the odds or probability that the consumer will become 90 or more days delinquent on at least one account within a twelve month period of time. It is built on thousands of data arising from the Consumer Credit Bureau.

  • What is a PERFROM Consumer score?

    PERFORM Consumer' - Credit Bureau Score specially developed for the Indian market which provides an estimate of credit worthiness based on the probability that the inquired individual will default, in the following twelve months.

  • What are the benefits of credit bureau score?

    The credit bureau scores provide several benefits to credit grantors. They are a stable indicator of risk over time and they function as an industry standard for the Indian market. In addition, they offer an unbiased analysis across all credit products and credit institutions and are easy to interpret.