Who can perform a credit check?

A credit check can only be performed by authorised entities such as banks, Non-Banking Financial Company (NBFC), or credit card issuers when you apply for a loan or credit product. They rely on credit bureaus like CIBIL™ to fetch your report. And yes, you too can check your own credit score anytime without affecting it.

Let's see as well as understand this breakdown:

• Lenders (Banks and NBFCs): When you apply for a personal loan, home loan, or vehicle loan, they check your score to judge risk.
• Credit Card Issuers: Before approving a card, they review your repayment history.
• Employers (in rare cases): Certain roles in finance may involve a background credit check.
• You, the individual: Checking your own CIBIL™ report is called a soft inquiry and has zero impact on the score.

So, while many hard checks by lenders can bring down your score a bit, your own monitoring keeps you in control.