Banks feed in borrower data and personal information, which the CIBIL systems pool together. A control number is generated when banks pull out your credit report on a requirement basis.
The control number is a unique number, which is generated every time any bank or credit institution pulls out a credit report on you. CIBIL requires this number because it enables them to view the exact details that the bank has seen when they drew a report on you. Hence, it is important for you to request the bank to provide you the control number.
As seen with some of the previous posts, errors and inaccuracies are possible with your CIBIL report. If you need to seek clarifications in your credit report, here are the steps you should follow:
a. Contact the bank that declined a credit card or loan application on the basis of your poor credit score. Ask them for a clarification on the poor credit score and request them to provide the control number for your credit report.
b. The bank will provide you with the control number of the credit report and also share the information on the credit report that is responsible for your poor credit score.
c. Get in touch with CIBIL by calling their help desk numbers at 1800 – 224 – 245 or +91 -22 6638 4600 / 2281 7788 provided in their website, www.cibil.com. You could also drop in an email at info@cibil.com referring your credit report’s control number.When attempting to clarify the information on your credit report, you need to inform CIBIL about the exact nature of the discrepancies in the report that you have been made aware of, by the bank.
The importance of the control number
The control number is a nine digit unique number that helps CIBIL track an individual’s credit report from its database.
Banks feed in borrower data and personal information, which the CIBIL systems pool together. The control number is generated when banks pull out your credit report on a requirement basis.
The control number is a unique number, which is generated every time any bank or credit institution pulls out a credit report on you. CIBIL requires this number because it enables them to view the exact details that the bank has seen when they drew a report on you. Hence, it is important for you to request the bank to provide you the control number.
Dealing with an uncooperative bank
When the bank is uncooperative you could post a complaint in the bank’s website and if the bank does not respond within 15 days, you can register a complaint with the banking ombudsman, presenting a copy of the complaint posted on the bank’s website as proof.
You can register this complaint through their website.
Need for direct access to credit reports for borrowers
It is the need of the hour for CIBIL to allow borrowers to access their respective credit reports not only on cases when information needs to be verified but also as a way for individuals to keep a tab on their money inflow and outflow. This will help them weed out errors, clarify facts and more significantly, identify impersonations before it is too late.