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A credit score is a 3 digit number that represents the evaluation made on a person's capability to repay loan amounts and other debts like credit card payments. Credit bureaus like CIBIL™, Experian, Equifax, CRIF HighMark provide credit scores that are calculated based on their credit history. Having a good credit score is a must as banks and NBFCs provide you the top credit cards or loans based on your credit score. Lenders like Kotak Mahindra Bank may use any one or more of the bureau scores to approve or reject your credit card application.

When it comes to credit card applications, your lender would want to check if you are creditworthy. A credit check is done in order to ascertain whether you will be able to pay your credit card bills on time. If your credit score is more than 750, you will be able to get the best credit card offers with a high credit limit and low interest rates. Your lender will check your credit score from any of the credit bureaus like (CIBIL™/ Experian/ Equifax/ CRIF HighMark). Maintaining your credit utilization ratio will be an important factor to keep in mind while using a credit card. Generally, a good credit utilization ratio is less than 30 percent, which means you should always try to use less than 30 percent of the total credit available to you on your credit card.

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