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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
CIBIL™ score is a prime requirement for all types of credit card applications. Banks require the applicants to meet the minimum CIBIL™ score requirement to be eligible for the credit card of the bank. CIBIL™ score is a three-digit number rating the creditworthiness of any person. This number is in the range of 300 to 900. A credit score closer to 900 is considered to be good by the banks and a credit score closer to 300 is considered to be risky by the banks.
HDFC requires the credit card applicants to have a minimum CIBIL™ score of 750 or above to be eligible for any of the credit card.A credit score of 750 or above assures the applicant of the approval of the credit card application without any hassles. The applicant may also be able to negotiate the annual credit card charges with such a favourable CIBIL™ score.
If the CIBIL™ score of the applicant is lower than 750, the applicant may still get the credit card at the discretion of the bank. However, the credit card limit sanctioned in such case may be lower. The applicant may also have to pay interest at a higher rate. Apart from this HDFC bank may also place some restrictions on the use of credit cards issued with low credit scores at its discretion.
Hence, it is essential that the applicants maintain their CIBIL™ score to get the best possible deal for their HDFC credit cards. Any inquiry for CIBIL™ score made by the lender is referred to as hard inquiry and each such inquiry will affect the credit score of the applicant if such application is rejected. Hence, it is advisable that the applicants check their credit score before making an application for HDFC Bank credit cards to avoid the chances of rejection.
HDFC Bank is the topmost name in the private sector banking industry in India. The bank has its reach even in the remotest parts of the country as well as a huge international presence. The credit cards of the bank are among the most popular credit cards today and are accessed by millions of customers.
The bank has set many eligibility parameters for the customers to be eligible for the credit cards. These eligibility parameters include conditions like age restrictions or minimum income requirements. Apart from such conditions, the bank also considers the credit score of the applicants while reviewing their credit card application.
A credit score is the credit rating issued by authorised credit rating agencies. These agencies provide credit score for individuals or business entities. Such credit score is the first point of reference for lenders when they receive any loan application or credit card application from any person.
India has four credit rating agencies that are charged with proving credit score. These credit-rating agencies are mentioned below.
1. What are the benefits of a good CIBIL™ score?
A. There are multiple benefits of a good CIBIL™ score. Some of such benefits are mentioned below.
2. What are the measures to improve the CIBIL™ score of a person?
A. The CIBIL™ score of a person is quite essential for any loan application or credit card application. The measures for improving the CIBIL™ score of a person are highlighted below,
3. Is a CIBIL™ score of 500 good for an HDFC Bank credit card?
a. A CIBIL™ score of 500 good for HDFC Bank credit card is considered to be poor for HDFC credit card application.
4. Can a person check their CIBIL™ score online using their passport?
A. Yes. A person can check their CIBIL™ score online using their passport through the website of CIBIL™.
5. Can a person apply for multiple HDFC Bank credit cards?
A. A person can apply for multiple HDFC Bank credit cards but the sanction for the same will be at the discretion of the bank.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
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Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
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