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What is the minimum CIBIL™ score needed for Axis Bank Credit Cards?

Axis Bank requires the applicants to have a minimum credit score of 750 to be eligible for any of the available credit cards of the bank. A credit score lower than 750 up to 650 can still be considered for the issue of credit cards by the bank. However, in such a case, the rate of interest is higher than in the case of a person having a minimum credit score of 750.

If the credit score is 600 or less, the credit card application is most likely to be rejected. The risk of default or delay in repayment of credit card dues in such case is considered to be quite high.

A credit score issued by CIBIL™ that is closer to 900 is considered to be favourable by the Bank. On the other hand, a CIBIL™ score closer to 300 is considered to be unfavourable and risky by the bank. The credit card application in such cases is most likely rejected.

About Axis Bank Credit Cards

Axis Bank is the third-largest private bank in India. The bank has a global presence with millions of customers and a widespread network of branches. The bank provides credit cards among many other products and services to its customers. These credit cards are provided based on certain eligibility parameters set by the bank in this regard. The bank requires the applicants to meet all such eligibility parameters to be eligible for its credit cards.

What is the CIBIL™ score?

Lenders require the credit score of the applicants as the basis for reviewing the credit card application of the applicants apart from the other eligibility criteria of the bank. The credit score is the credit rating issued by the authorized credit rating agencies. These credit-rating agencies provide the credit score as a measure of the creditworthiness of the applicants. This provides the lenders with an assurance of the viability of the line of credit provided to the applicants.

There are four credit rating agencies in India. These agencies are, 

  • CIBIL™
  • Equifax
  • Experian
  • CRIF Highmark

Axis Bank refers to the credit scores issued by CIBIL™ for the issue of credit cards. These scores are a three-digit number that can be issued in the range of 300 to 900.

What are the most common factors that may lead to the rejection of Axis Bank credit cards?

Axis Bank can reject your credit card application on account of a lower credit score. There may also be other reasons for such rejection of the application. Some of such factors are mentioned below.

Non-payment of past credit card dues

When the cardholder fails to repay any previous credit card dues, the chances of rejection of the credit card application are high.

Non-payment of past loan EMIs

Non-payment of any loan EMI also accounts for the rejection of credit card applications.

Settlement of any previous debt

If the cardholder has settled any previous debt, it will reflect poorly on the credit score of the applicant. This will lead to a reduction in the credit score of the applicant which will eventually result in rejection of the credit card application.

Exceeding the monthly credit card limit of the cardholder

The cardholder has to ensure that they do not exceed the credit limit allotted to them for any period. If the cardholder exceeds this limit consistently, this may eventually lead to rejection of credit card application.

FAQs

1. What is the minimum credit score needed for Axis Bank Credit Card?

A. The minimum credit score needed for Axis Bank Credit Card is 750 or more.

2. What are some tips to improve my credit score?

A. Some tips for improving the credit score are mentioned below.

  • Paying the credit card dues or loan EMIs on time
  • Avoid withdrawing cash against credit cards
  • Clearing any outstanding liability
  • Checking the credit report for any errors and fraudulent entries and reporting them
  • Maintaining the credit utilization ratio

3. How long does CIBIL™ maintain the credit score of any person?

A. CIBIL™ maintains the credit score of any person for a period of 7 years.

4. What are the eligibility criteria for the credit card of Axis Bank?

A. The eligibility criteria for Axis Bank Credit Card are mentioned below,

  • The age of the applicant has to be between 18 years and 70 years
  • The minimum income of the applicant has to be Rs. 15,000
  • The minimum credit score of the applicant has to be 750.
  • Any additional requirement as per the guidelines of the bank.

5. Will clearing of past credit card dues improve the credit score of a person?

A. Yes. Clearing past credit card dues have a positive impact on the credit score of a person and will improve the same.

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