Credit scores are essential in determining the creditworthiness of the applicant. The Credit Information Bureau (India) Limited (CIBIL) is one of the leading credit bureaus providing scores to credit users. The Control Number, also known as the Enquiry Control Number (ECN full form), is an essential aspect of credit reporting in CIBIL. In this article, we will discuss control no. in CIBIL, its significance, and how to obtain it.
What is the Control Number in CIBIL (ECN Number)?
The Control Number, also known as the Enquiry Control Number (ECN), is a unique identifier assigned by CIBIL to every credit report it generates. ECN is a nine-digit number that helps CIBIL identify the credit report associated with an individual's credit application. The Control Number is an essential part of the credit report and plays a crucial role in credit reporting.
Now you know what the control number in CIBIL is; you may wonder how it is generated. The ECN is based on the credit report's date and time, the lending institution's unique identification number, and a system-generated random number. This ensures each credit report is unique and cannot be duplicated or tampered with.
Read More: How do you fix your CIBIL report errors so you can get a loan? What Is The Purpose Of The Control Number In CIBIL (ECN Number)?
The Control Number in CIBIL is essential for lenders and borrowers alike. Lenders use the Control Number to identify an individual's credit report, ensuring access to the correct credit history. Borrowers can also use the Control Number to verify that the lender has accessed the control number in the CIBIL report. This way, they ensure their personal information is not misused.
CIBIL also uses the Control Number to track the number of times an individual's credit report has been accessed. The number of inquiries made on an individual's credit report affects their credit score.
So what CIBIL ensures here is that only authorised entities access a control number, reducing the risk of unauthorised inquiries.
How to Obtain Your Control Number in CIBIL (ECN Number)?
Obtaining your Control Number in CIBIL is a straightforward process. You need to follow these steps:
Step 1: Visit the CIBIL website (https://www.cibil.com/).
Step 2: Click on the 'Get Your Credit Score' tab.
Step 3: Provide your personal details (name, address, DOB, and contact details).
Step 4: Upload scanned copies of your identity and address proof.
Step 5: Choose the subscription option to obtain your credit report.
Once you have completed these steps, CIBIL will generate your credit report and assign a Control Number to it. You can use this Control Number to verify that the lender has accessed the correct credit report and that your personal information is secure.
Why Is the Control Number (ECN Number) Important?
The Control Number is an essential aspect of credit reporting in CIBIL. It helps lenders and borrowers ensure the correct credit report is accessed, reducing the risk of fraud and identity theft. The Control Number also helps individuals keep track of the number of times their credit report has been accessed, reducing the risk of unauthorised inquiries affecting their credit score.
When you
get the CIBIL score, look for errors in the Control Number, as it affects the score. If the Control Number on an individual's credit report needs to be corrected, it can lead to the lender accessing the wrong credit report. This can result in the lender making a decision based on incorrect information, affecting the individual's credit score negatively.
Conclusion
The Control Number, also known as the Enquiry Control Number (ECN), is an essential aspect of credit report in CIBIL, and it helps both lenders and borrowers. So after getting your ECN, if you are considering getting a loan, contact us. We at Hero FinCorp can provide an instant Personal Loan to individuals with credit score of 600+.
Frequently Asked Questions
- What is the significance of the Control Number in CIBIL?
The Control Number, also known as the Enquiry Control Number (ECN), is a unique identifier. CIBIL uses the Control Number to track the number of times a credit report has been accessed, which affects the credit score. So when thinking 'how to increase my CIBIL score', the ECN can help you identify the errors. - How is the Control Number generated in CIBIL?
The ECN is based on the credit report's date and time, the lending institution's unique identification number, and a system-generated random number. CIBIL ensures that each credit report is unique, and one cannot duplicate or tamper with the control number in the CIBIL report. - How can you obtain your Control Number in CIBIL?
To obtain your Control Number in CIBIL, visit the CIBIL website, click on the 'Get Your Credit Score' tab, provide your details, upload a scanned copy of your identity and address proof, and choose the subscription option to obtain your credit report. Once you have completed these steps, CIBIL will generate your credit report and assign a Control Number to it. - What is an ECN number?
ECN number is a unique 9-digit number assigned to each borrower by CIBIL, India's credit information company, to identify their credit profile. - How to get ECN number?
To get an ECN number, contact your lender or credit bureau. Provide necessary identification and details about your loan account. The ECN number will be issued after verification.
