MUMBAI:
TransUnion CIBIL, India’s leading credit information company, has announced the launch of CIBIL Alerts — real-time notifications that inform consumers about key changes in their CIBIL Score and Report.
This new feature will help consumers stay in touch with their credit profile. CIBIL Alerts is the latest feature in CIBIL’s suite of subscription plans that is aimed at boosting consumers’ credit awareness and loan-readiness. Earlier this year, CIBIL launched the Score Simulator — a tool that allows the consumer to choose from various credit-related scenarios (such as opening a new loan account or closing an old credit card) and see how these actions may impact their future score.
While the simulation is based on the consumer’s existing CIBIL Score, using the tool will not affect the consumer’s score in any way but can help him take an informed credit decision. CIBIL Alerts and Score Simulator are both available with select subscription plans from CIBIL. These new features are important additions to the consumer’s credit journey aimed at empowering them with relevant information that impact their credit health.
Elaborating on the importance of timely credit monitoring, TransUnion CIBIL’s Head of Direct to Consumers Interactive, Sujata Ahlawat says. “As 79% of loans are disbursed to consumers with a high CIBIL Score, this makes it important for them to build and maintain a high score by checking their credit profile regularly. CIBIL Alerts is an innovative offering in the credit landscape and is focused on helping our consumers monitor their CIBIL Score and Report easily.”
Ahlawat adds, “CIBIL Alerts’ seamless credit monitoring function notifies the consumer in case of key changes in their CIBIL Report. While this can help them stay connected with their credit profile, it also serves to draw the consumer’s attention to any unauthorised transaction that may indicate identity theft or credit fraud. These time-sensitive notifications and early awareness can help the consumer take necessary steps to reach out to CIBIL and/or the concerned lender and resolve this at the earliest. Not only does this help boost the consumer’s credit awareness but also helps them ensure they are eligible for access to credit when they need it the most.”
Types of CIBIL Alerts
* New Enquiry added
* New Account added
* Change in Utilization
* Delinquency Change
* New Phone Number added
* New Address added
* Change in CIBIL Score
Highlights of CIBIL Alerts
* Real-time notification of any change in a consumer’s CIBIL Score and Report
* Tracks credit behavior across various products
* Grants a consumer hands-on access to his credit profile, anytime, anywhere
* Access to critical, time- sensitive information for faster resolution and action
* No extra fees for Alerts
TransUnion CIBIL’s subscription plans provide consumers with a spectrum of best-in-class services and tools. A subscriber can now avail of multiple accesses to their refreshed CIBIL Score and Report, and review their score trends, credit history and other insights into their credit profile. TransUnion CIBIL aims to build consumers’ credit awareness and loan-readiness by urging them to check their loan and credit account information regularly and identify any discrepancies that may impact their score, and their future access to credit.
