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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
IndusInd Bank refers to credit scores issued by CIBIL™ while considering any credit card application. If the credit score issued by CIBIL™ is closer to 300, it is not considered to be good or favourable. A credit score closer to 900 is preferred by the lenders while reviewing a credit card or a loan application.
IndusInd Bank requires the applicants to have a minimum credit score of 750 to be eligible for the credit cards of the bank. An applicant having a credit score lower than that is considered to be of high risk as the risk of delay or default in payment of credit card dues may be higher in such cases.
The bank may issue credit cards even if the credit score is lower, at its discretion. There is no guarantee that your credit card application will be approved you have a low credit score as it depends on several variables and your prior relationship with the bank. To be eligible for an IndusInd Bank credit card with a low credit score, the applicant has to meet other guidelines and prove their eligibility and higher income for repaying the credit card dues.
Applicants can contact the bank for details regarding other eligibility parameters required for the credit cards of the bank.
A credit score is the rating issued to any individual or businesses by a competent or certified credit rating agency to determine their financial health. There are four credit rating agencies in India. These agencies are,
Among these agencies mentioned above, the credit score issued by CIBIL™ is referred by IndusInd bank while determining the eligibility of an applicant for its credit cards. The credit score issued by IndusInd bank is a three-digit number that is in the range of 300 to 900.
The credit score of an applicant has to be duly maintained to ensure that they can get easy access to loans or credit cards as and when needed. Lenders look at the credit score as the first point of reference for the issue of credit cards or loans. Hence, it is essential to ensure that the credit score of the applicant is not damaged.
There are many ways to improve a person’s credit score in order to be eligible for the credit cards of the bank. Some of the most common measures to improve the credit score of a person are mentioned below.
IndusInd Bank is a renowned name in the private banking sector of our country. The bank commenced operations in the year 1994 with the aim to cater mainly to the NRI customers. The bank today has multiple products and services that are centred around retail banking, corporate banking, credit cards, insurance, wealth management, investment banking and more. IndusInd Bank has a huge customer base that is catered by its branches across the country as well as by representative offices overseas.
The credit cards of the bank are available in multiple variants for eligible applicants. The credit limit for such credit cards as well as the other features and benefits offered along with the card is dependent on many factors as per the guidelines of the bank. One of the crucial factors influencing such credit card eligibility is the credit score of the applicant.
1. Can I check my credit score for free?
A. Yes. As per the latest rules and guidelines of the RBI, credit rating agencies have to provide the credit score of a person at least once per year and such information should be free at such time. Alternatively, you can check your credit score any number of times on CreditMantri for free.
2. What are the documents needed for checking the credit score of a person through CIBIL™?
A. A person can check their credit score through CIBIL™ by using any of the following documents.
3. Can I get an IndusInd Bank credit card even if my credit score is low?
A. Yes. The bank may sanction the credit card application of a person having a low credit score if the applicant meets the other requirements set by the bank with regards to credit card eligibility. However, note that the issue of the credit card for an applicant with a low credit score is at the sole discretion of the bank.
4. Why is it crucial to maintain a healthy credit score?
A. A healthy credit score will ensure that the person will be able to get loans or credit cards easily from any lender. Such a person may also be eligible for loans at a lower rate of interest or low to zero processing charges.
5. Can a person get multiple credit cards from IndusInd Bank?
A. Yes. A person can get multiple credit cards from IndusInd Bank provided they are eligible for the same.
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
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
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,