Experian Credit Report

Experian Credit Information Company of India Private Ltd. is one of the most popular credit bureaus in India. Established in 2006 with the license granted in 2010, the company provides credit reports to its customers by assessing their credit history.

The Experian credit report takes around 20 days to generate a new report. Similar to the other bureaus, the scoring system of Experian ranges from 300 to 900 where 300 is the lowest score and 900 is considered the perfect credit score.

Contents of Experian Credit Report

As mentioned above, the Experian credit report provides credit information after assessing the customer’s credit history information provided by the banks. Along with the loan records and credit card payments, the Experian credit report is mainly divided into the following categories:

  1. Current Application Information
  2. Experian Credit Score
  3. Report Summary
  4. Summary: Credit Account Information
  5. Credit Account Information Details
  6. Credit Inquiries
  7. Non-Credit Inquiries

Current Application Information

The current application information of the Experian credit report displays all the personal information of the customer. This mainly includes:

  • Applicant’s Name
  • Address
  • Date of Birth
  • Gender
  • Email
  • PAN
  • Passport Number
  • Voter ID
  • Aadhaar Number
  • Telephone
  • Mobile Number
  • Driving License

This information is provided by the customer when they apply for the credit report.

Experian Credit Score

The most important part of the free Experian credit report online is the section where your credit score is given. This section shows the current credit score of the customer on the basis of various factors. As per the report, the factors that affect the calculation of the credit score are:

  • Recency: If you have recently defaulted any credit payments
  • Leverage: The number of credit accounts where the payments have been on time
  • Coverage: Any delinquent and non-delinquent credit accounts
  • Delinquency Status: Defaults on credit accounts(current & recent intervals)
  • Credit Applications: Any credit inquiries made in the past 30 days

Report Summary

As the category name says, this category gives a summary of all the credit accounts. This includes total credit accounts, current balance accounts, a brief summary of your credit and non-credit inquiries. There are four sub-categories of report summary which are as follows:

  • Credit Account Summary
  • Current Balance Account Summary
  • Credit Enquiry Summary
  • Non-Credit Enquiry Summary

Credit Account Summary

This mainly states the total credit accounts you have or had since your credit profile was built. The section also shows the number of active accounts, closed accounts, and accounts that are wilfully defaulted, suit filed and others.

Current Balance Account Summary

The current balance account summary shows the total current outstanding amount of your credit accounts. This is then detailed into sub-categories the amount outstanding in secured accounts and unsecured accounts. This also shows if you have an amount remaining in any of the settled accounts.

Credit Enquiry Summary/Non-Credit Enquiry Summary

This section shows if you have made any credit or non-credit inquiries to any lender. This is sub-divided into inquiries made in the last 7 days, 30 days, 90 days, and 180 days.

Check your credit score & report worth Rs.1200 for FREE
Check Your Free Score

Summary: Credit Account Information

The summary section of credit account information shows a little information of your credit accounts from the Experian credit bureau database. The database gets updated as soon as a lender informs the bureau about your credit activities.

The following information is given about any credit account:

  • Lender: Name of the lender
  • Account Type: Credit card, overdraft, home loan, etc.
  • Account No: The unique account number
  • Ownership: The ownership of the account if it is individual or joint
  • Date Reported: The date it has been reported
  • Account Status: The status of whether the account is active/closed/settled/written-off
  • Date opened: The date the account was opened
  • Sanction Amount/Highest Credit: The credit limit of your account
  • Current Balance: The balance that is currently outstanding
  • Amount Overdue: Any amount that is overdue

Credit Account Information Details

This section provides detailed information about the different credit accounts. The information is mainly provided by other banks and financial institutions with whom the customer has had a credit history.

This mainly includes the credit account details including the address, account terms(account number/date opened/ownership/collateral details), and account description. This section also shows the payment history and the consumer personal details on the credit account.

Credit Inquiries/Non-Credit Enquiries

The credit inquiries section shows the names of the credit institutions that have processed a loan application for you whereas the non-credit inquiries show the authentication requests made by you to check your free Experian credit report online.

What Do The Indicators Mean?

Indicator Meaning Explanation
0 Up-to-date This means the payments are made within the agreed payment due date
> 0 Overdue by the respective number of days This number indicates the number of days past due reported by the lender
S Standard An account which is overdue for less than 90 days
B Substandard An account which is overdue by more than 90 days but less than 12 months.
M Special Mention The accounts are standard but for some reason are monitored closely for any discrepancy
L Loss An account where loss has been identified but has not been written off, wholly or partially
D Doubtful An account which is overdue by 90 days for more than 12 months