Following are the main differences between CIBIL score and Experian score.
a. The primary distinction is how much more “readable” Experian is than CIBIL. The Experian report is presented in such a way that it can even be read by a layperson, whereas the CIBIL report is “messy.”
b. Typically, the CIBIL score is 30 to 60 points less than the Experian score. The credit bureaus typically produce a credit score based on two to three years of credit history. The fundamental information will largely remain the same.
The scores are not equivalent, thus neither is superior nor inferior. The calibration varies even though the scale ranges from 300 to 900. Accordingly, a good CIBIL score is 750, and a good Experian score is 780.
c. They each calculate your credit score in various ways. Your score is calculated by Experian using the FIFO algorithm, while CIBIL uses the Empirical technique.
d. Experian arrived in India in 2010, although CIBIL was founded there in 2000. Therefore, CIBIL has additional details about your credit history.
NOTE : You can get your CIBIL score on your phone for FREE.