CIBIL score vs. Credit Score: What's the difference?

 CIBIL score and credit score are both numerical representations of an individual's creditworthiness, but they are not the same thing.

CIBIL score is a credit score that is issued by Credit Information Bureau (India) Limited (CIBIL), which is India's first credit information company. CIBIL score is a three-digit number ranging from 300 to 900 and is calculated based on an individual's credit history and behavior.

On the other hand, credit score is a more general term that can refer to any credit scoring model used by any credit bureau. There are other credit bureaus in India, such as Equifax, Experian, and CRIF High Mark, which also issue credit scores. Credit scores issued by these bureaus may have different scoring ranges, scoring criteria, and weightage for different factors.

While both CIBIL score and credit score measure creditworthiness, the weightage given to different factors may vary between different scoring models. CIBIL score is based primarily on credit history and behavior, while other credit scoring models may consider other factors such as income and employment history.

In summary, while CIBIL score is a type of credit score, it is specific to the scoring model used by CIBIL. Other credit bureaus may have their own scoring models, which can result in different credit scores for the same individual. However, the basic principles of maintaining a good credit history and behavior apply to all credit scoring models.