Know Your Experian Credit Information Report

1. What is a Credit Information Company?

A Credit Information Company ("CIC") is an independent organisation that compiles identity information, credit transactions and payment histories of individual consumers and organizations.
CIC stores information provided by various financial institutions in the same way as it is provided to them – they do not alter or represent the data in any other way.
CIC provides the data that is held by them about an individual borrower to the lender, who may then make their own assessment based on a range of factors, including the data that CIC manages.

2. What is a Credit Information Report - CIR??

Credit Information Report contains detailed information of a borrower's credit history, including identity information, credit accounts, loans, payments, recent enquiries and credit score.
CIR is provided to members of a CIC (banks and other financial organizations) and to the borrower (upon request).
When lenders receive an application for a new credit card/ loan/ or extension of credit, they will most likely contact the CIC for the borrower's latest credit report among other things before making a decision.

3. What type of information is available in the Credit Information Report provided by Experian?  

The Experian Credit Information Report is a report that lists all the information held about an individual by us. It contains the individual applicant's name, address and other individual identifying information, such as date of birth, phone number, PAN card number etc. It also lists all recorded credit information for that individual (type of borrowing, date of loan, current balance, payment history, any recorded defaults etc.)
Finally, it also lists when lenders have made enquiries about the individual – this confirms previous details of credit applications with the associated details of the type of facility requested, amount, etc.

4. How do I know who has seen my Experian Credit Information Report?

Whenever a lender looks at a borrower's Experian Credit Information Report, a 'footprint' or electronic note of the search is recorded. This footprint reflects the exact details searched by the lender.
A search is simply a record of a lender making an enquiry in the name shown, and the record of that search is stored on the credit report. The fact that the search has been made does not suggest that the person searched holds an account with that lender.  Experian Credit Information Company of India Private Limited retains this information because it allows lenders to consider previous search information when assessing loan applications.

5. How often is the Experian Credit Information Report Updated?

In general, members (financial institutions) forward consumer credit information to us on a monthly basis. The day of the month that each individual member sends updates varies. In other words, we might receive an update from member A on the first of every month and from member B on the 11th of every month, etc. Ideally, the credit report is updated on a monthly basis post receiving credit data from our members

6. Whom do I contact if I have any question about the information in the Experian Credit Information Report, or if I want to highlight and resolve any discrepancy in the Experian Credit Information Report?

To get immediate answer to any of your question with regards to information in the Experian Credit Information Report, please also refer to the "Know Your Experian Credit Information" leaflet. This leaflet provides detailed explanation about each field on the Experian Credit Information Report.

7. How can I contact  Experian Credit Information Company of India Private Limited?

You can contact us via phone on 022 6641 9000  or email us at consumer.support@in.experian.com