PayTM CIBIL Score: How to check? Is it Correct?


About Paytm CIBIL Score

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Paytm CIBIL Score

The Paytm CIBIL score concept is one of the key concepts that users of Paytm need to know. A three-digit number called the CIBIL Score is looked up when applying for a loan. In addition, it ranges from 300 to 900. We are all aware of how crucial it is to check our CIBIL Score often. We can keep a healthy credit score by regularly monitoring our CIBIL score.

If you found any major or minor error in the CIBIL score, you need immediate action to rectify the mistake. Because Credit score plays a key role if you want to get any kind of loan from the banks. Therefore, a different option to verify your CIBIL score online is to do it using Paytm. So let’s examine how PayTM CIBIL Score operates.

How to check CIBIL Score in Paytm?

CIBIL Score in Paytm

You can easily check CIBIL Score on Paytm mobile application. It involves a few simple steps. Those simple steps are listed below.

  • Go to the App Store and download the Paytm application on your smartphone.
  • After completing the downloading, install the app.
  • Sign up for the Paytm application by entering the required details.
  • After logging successfully to Paytm, go to the ‘Loan and Credit cards’ option.
  • Click on the ‘Free Credit Score’ option.
  • Congratulations! You are done. You can also request a summary of your credit score.
  • This is how the Paytm CIBIL score works.

There are other ways also to check your CIBIL Score.

Is Paytm CIBIL score correct?

Paytm CIBIL score correct

When compared to other applications or tools that are available these days, Paytm provides an easy and simple way to access or check credit scores. Here are some key reasons why users prefer to Check Paytm CIBIL score.

  • Free CIBIL score paytm checking process is simple and convenient to use.
  • It shows an accurate credit score.
  • It takes less than a minute to check your credit score.
  • Paytm application also advises suggestions on how to improve the credit score.
  • It needs a borrower to follow some simple steps to verify a credit score.
  • Paytm does not require a borrower to give more or excessive data.
  • Checking CIBIL Score on Paytm is a safe process.
  • Users can check their Credit scores for free.

However, the Paytm application allows users to check their credit scores for free. But CIBIL Score is given on the credit report that contains separate financial data or information that includes a person’s income details, total numbers of transactions, spending info, other borrowing information, etc. As a result, it can be tell that paytm CIBIL score accuracy is maintained.

How to remove CIBIL Score from Paytm?

Remove CIBIL Score from Paytm

To remove CIBIL Score details from Paytm, you need to remove your credit or debit card details from Paytm. The process of eliminating details is simple; the steps are listed below.

  • Go to the Paytm application on your device.
  • Tap on the menu option, which is placed in the top left corner and denoted by three horizontal lines.
  • Go to my payment settings, and click on it.
  • After that, Go to settings, and saved payment details will be shown on your screen.
  • Left swipe on the card that you want to delete.
  • You will get a delete option. Click on it.
  • It will ask for the confirmation ‘Are you sure you want to delete this saved card.’
  • Click on ‘yes delete the card,’ and there you go.

This way you can easily remove your PayTM CIBIL Score

What is Paytm Postpaid?

The Paytm post-paid option is similar to a credit card. Because of this, people have some doubts about whether Paytm post-paid affects the credit score or not. However, The Paytm post-paid is one of the unique services offered by Paytm to its users.

Benefits of Paytm post-paid services

Benefits of Paytm post-paid services

  • No need to submit any kind of document.
  • Zero interest rates.
  • You will get a chance to get rewards.

How to avail of Paytm post-paid services?

Step 1: Open the Paytm application on your device.

Step 2: Go to financial services, and choose the post-paid option.

Step 3: After completing KYC, Paytm will let you know about your credit limit.

Eligibility criteria to get Paytm post-paid services

Paytm will decide your post-paid limit based on your Paytm transaction history, CIBIL score, types of payments made, etc. Also, your age should be 18 or above.

How to make a Paytm post-paid payment?

Paytm post-paid payment

A post-paid bill will be generated on the 1st date of every month. You can pay that bill through UPI, credit card, or debit card also. The due date of the bill will be the 7th of every month. You can increase the limit of Paytm post-paid by paying the bill in time regularly.

Does Paytm PostPaid increase your CIBIL Score?

Paytm postpaid facility offers you some amount to spend through Paytm. You can later pay it when the bill is generated. This process is likely to credit card service. At initial Paytm, you offer RS 500, but later will be increased.

Furthermore, ICICI bank will provide you with this amount, and Paytm acts as a facilitator. So, it is true that the Paytm Postpaid payment could affect your credit score. We trust that you meant to ask, “Does Paytm Postpaid Increase Cibil Score?” response is that it does and that it may even get worse.

Does Paytm PostPaid decrease your CIBIL Score?

Paytm PostPaid decrease your CIBIL Score

As we discussed before, the default in Paytm post-paid payment could affect your credit score. If you don’t pay the dues in time, the ICICI bank will report your Pan to the credit rating agencies. So, there might be a chance that these agencies would decrease your credit score.

However, the Paytm Postpaid in the future may either be decreased or denied because of this behavior while paying the bill. 

Frequently asked questions

Frequently Asked Questions

Q1: Is Paytm CIBIL Score accurate?

A1: PayTM provides its users to check their credit scores for free. However, this credit score is different from the Paytm CIBIL score. Paytm currently provides credit scores from TransUnion CIBIL. The credit score given by Paytm is used to check the credibility of the customer. You can get the CIBIL score on the official website of CIBIL.

Q2: Is it safe to check CIBIL Score on Paytm?

A2: The Paytm application is completely safe to check your Credit score, and you can check it totally for free. Thus, use Paytm CIBIL score for easiness.

Q3: What are the disadvantages of Paytm Postpaid services?

A3: Here are some of the disadvantages of Paytm Postpaid services:

  • Reduction in credit score in case of delay in bill payment.
  • High late payment penalty.
  • They are charging high-interest rates.

We hope that you get a fair idea about PayTM CIBIL Score and impact of Paytm Postpaid on CIBIL.

You can also read the tips on how to Improve CIBIL Score.

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