All you need to know about India's first Credit Pass, powered by TransUnion CIBIL

All you need to know about India's first Credit Pass, powered by TransUnion CIBIL

FPJ Web DeskUpdated: Wednesday, December 27, 2023, 03:52 PM IST
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The launch of India’s first Credit Pass marks a pivotal moment in empowering individuals to take control of their financial futures. This innovative offering from Bajaj Finserv is powered by the nation’s pioneer credit bureau, TransUnion CIBIL, and has the potential to transform how consumers approach credit in the world's fastest-growing major economy.

What is the Credit Pass?

Having real-time access to credit information can drive better borrowing and repayment decisions, helping dreams of homeownership and entrepreneurship flourish responsibly. However, subscription plans from credit information companies may not be a feasible option for everyone. That’s where the Credit Pass steps in as an affordable and powerful alternative.

The premium plan is accessible for as little as Rs. 99 annually. It opens the door to unlimited access to your monthly CIBIL Score updates and provides a real-time snapshot of your financial standing, among other benefits.

Credit Pass features

The power of Credit Pass lies in its robust set of capabilities tailored to help you monitor and build your credit health. Users gain access to key features such as:

Monthly CIBIL Score checks: CIBIL Score generally gets updated once a month. Check your credit score every month so you always know where you stand and can easily gauge your eligibility for fresh credit. And don’t worry, these score checks do not impact your score in any way.

Personalised Credit dashboard: Obtain an overview of all your credit accounts in one comprehensive credit dashboard for seamless monitoring.

Credit factors tracking: Track the key factors influencing your credit score, such as credit enquiries, credit utilisation, and your repayment history, and be proactive in tweaking your credit behaviours to impact your score positively.

Credit Health Report: Gain real-time insights into your Credit Health Report. Use the report to track your credit progress and identify any inaccuracies or discrepancies that may have sneaked in.

Access to interactive tools: With the premium subscription plan, you gain access to predictive tools such as the Credit Score Simulator and EMI Calculator to help you gauge the potential impact of your credit-related decisions and plan your monthly loan EMIs before even applying for credit.

The Credit Pass essentially simplifies the process of regular credit health monitoring and significantly enhances your chances of quick loan or credit card approvals. The value-added insights provided by the Credit Pass enable better financial planning, giving you a competitive edge in today's dynamic financial landscape.

Credit Pass subscription plans

Choose from two subscription options based on your needs:

Standard Plan: Priced at Rs. 59 for 6 months

Premium Plan: Priced at Rs. 99 for 12 months

Opting for the premium plan unlocks additional benefits, making it a wise investment in your financial well-being.

Registration process

● Visit the official Bajaj Finserv website

● Navigate to the dedicated Credit Pass web page

● Locate and click through the ‘SEE YOUR CREDIT PASS’ button featured at the top of the page

● Enter your mobile number when prompted and complete the OTP authentication process

● Provide some basic information, such as your name and PAN card number

● Choose one of the two subscription plans, as per your requirements

● Complete the payment process to activate your Credit Pass

That’s it. Now you can access your very own Credit Pass account with a unique 12-digit number. Use your Credit Pass to monitor your credit dashboard in real-time and check your monthly CIBIL Score updates.

India stands at a crossroads as technology reshapes financial services for 1.4 billion people. The first-of-its-kind Credit Pass is a major milestone in making credit access more democratic and empowering people to make more informed financial decisions. Equip yourself today with the Credit Pass and take control of your financial future.

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