Understanding your credit score and how it is calculated is vital in your endeavour to build and maintain your creditworthiness. A key component in this regard is knowledge of your Control Number in the CIBIL Report, which plays a significant role in your financial journey.
What is Control Number?
The Control Number, also known as Enquiry Control Number or ECN, is a unique nine-digit identifier created by CIBIL when your bank checks your CIBIL Score. This code helps lenders pinpoint your loan records, making sure they are looking at your financial history and not anyone else's. It is essentially a financial fingerprint that allows CIBIL to efficiently track the credit histories of millions of borrowers.
Each time a credit report is pulled, a new and unique ECN is generated, specifically tied to your credit report, ensuring no other borrowers will ever share the same number. This distinct number is utilised to manage all the information unique to your credit history and behaviour. Member banks and financial institutions use this number to extract relevant information from CIBIL.
How to get the Control Number
Acquiring your ECN number from CIBIL is a straightforward process. Here are a few ways to obtain it:
- Check your CIBIL Report: The ECN is conveniently located on the top right-hand corner of your CIBIL Report.
- Call the CIBIL helpline: Dial the CIBIL helpline at +91 - 22 - 6140 4300 to request your ECN number via phone assistance.
- Visit the official CIBIL website: Log on to the CIBIL website where you can retrieve your report by paying a nominal fee of Rs. 550 for a one-time report.
- Request your lender: Alternatively, you can contact your lender directly and request the Control Number from them.
Remember, each ECN is unique to your credit report, ensuring that no other borrower shares the same ECN. It is also important to note that this number is confidential, so acquiring it may not be easy.
Monitoring your credit health with Bajaj Finserv Credit Pass
Multiple credit enquiries of this type can adversely impact your credit score, making it essential for you to manage your applications and your credit better to avoid these hard enquiries and their consequent damage.
Bajaj Finserv has partnered with TransUnion CIBIL to launch the Credit Pass, an innovative subscription that allows you to monitor and manage your credit health with ease. Its personalised dashboard allows you to view all your open and closed credit accounts in one place and track the factors that impact your credit health, including your credit enquiries. You can leverage the Credit Pass not only to monitor your creditworthiness through real-time credit health reports and monthly CIBIL Score checks, but also improve it through interactive tools like the Credit Score Simulator and the EMI Calculator.
This service is available for free for the first 12 months when you sign up during the limited-time offer period. It is a game-changer for anyone seeking to improve their eligibility and chances of approval when it comes to credit opportunities and build a robust CIBIL Score.
