Your CIBIL score plays a crucial role in getting loans and credit cards. A good score increases your chances of approval, while a poor score can lead to rejections or higher interest rates. Many people hesitate to check their CIBIL score online for free due to misconceptions. Let's bust some of the most common myths about credit score checks.

Myth 1: Checking Your CIBIL Score Lowers It

One of the biggest myths is that checking your own CIBIL score online free will reduce it. This is not true. When you check your credit score yourself, it is called a "soft inquiry," which does not impact your score. However, when a bank or lender checks your score while reviewing a loan application, it is a "hard inquiry," which may slightly lower your score.

Myth 2: You Can Check Your CIBIL Score Only Through Banks

Many believe that only banks or financial institutions can access credit scores. The truth is, individuals can also perform a CIBIL score check online free through various websites, including CIBIL’s official site and third-party platforms.