The phrases “credit score” and “CIBIL score” are sometimes used synonymously when discussing creditworthiness, however, they are not the same. The former is a kind of the latter. Thus, the CIBIL score is a kind of credit score, and the phrase “credit score” is more generic. A credit score is a three-digit number that reflects your overall creditworthiness. It’s a general assessment of your ability to repay borrowed money based on your credit history. Whereas, The CIBIL score is a specific type of credit score generated by Credit Information Bureau (India) Limited (CIBIL), one of the major credit bureaus in India.

What is a Credit Score?

A credit score is a three-digit number that quantifies a person’s creditworthiness and is based on several variables, including credit history, payment history, credit utilization, and duration of credit history. Lenders and financial organizations use it to assess a person’s propensity for timely debt repayment. The possible credit ratings are from 300 to 900. A higher credit score typically denotes a reduced credit risk and can lead to better terms for loans, credit cards, and other financial products.

What is the CIBIL Score?

The Credit Information Bureau (India) Limited (CIBIL), which is one of India’s four credit agencies, offers credit scores under the name ‘CIBIL’. It is a three-digit number representing a person’s credit background and creditworthiness. A person’s credit behavior, as shown in the ‘Accounts’ and ‘Enquiries’ portions of their credit information report, determines their CIBIL Score. The score can be anywhere between 300 and 900, with a score of at least 700 usually regarded as good. When determining a person’s creditworthiness for offering loans, credit cards, and other financial products, lenders and financial institutions heavily weigh their CIBIL numbers.

Difference Between Credit Score and CIBIL Score: