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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
Kotak Mahindra Bank has set many eligibility parameters for a person to be eligible for the credit cards of the bank. These parameters include the age of the applicant, income of the applicant, relationship with the bank, etc. Among these eligibility parameters, a crucial factor is the credit score issued by CIBIL™. The bank requires the applicants to have a CIBIL™ of 750 for the applicants to be eligible for the credit cards of the bank. A credit score lower than that may result in the rejection of the credit card application of the applicant.
The bank may permit sanction of the credit card application at its discretion even if the credit score of the applicant is lower than the required standards. The applicant in such case will have to prove eligibility and their creditworthiness through other means like
The credit score of a person is the assessment of the creditworthiness of a person. The creditworthiness is used to determine the eligible credit limit of the applicant as well as the repayment capacity of the person. The credit score in India is issued by four credit rating agencies for individuals and businesses. These agencies are,
Kotak Mahindra Bank refers to the credit score issued by CIBIL™ as a point of reference for the issue of credit cards. The credit score issued by CIBIL™ is from 300 to 900. A credit score closer to 300 is considered to be bad by banks and financial institutions. A credit score closer to 900 is considered to be good by lenders and the credit card application or the loan application is sanctioned relatively easily in such cases.
Credit cards are an essential component that is reviewed by the lenders while sanctioning a credit card application. Hence, the applicants have to ensure that they maintain their credit score. There are many other reasons for maintaining the credit score of any person. Some of such examples are mentioned below.
Kotak Mahindra Bank is considered to be one of the top three private sector banks in India. The bank provides many facilities to its national and international customers. Kotak Mahindra Bank was the first Non-Banking Finance Company to be converted to a bank.
The bank has many credit cards to offer to its customers. The eligibility for credit cards depends on the type of cards to be issued as well as the various parameters set by the bank in this regard. One of the essential parameter set by the bank is the credit score of the applicant. The credit score of a person is the essential measure for a credit card.
1. Can a senior citizen get credit cards from Kotak Mahindra Bank?
A. Yes a person up to the age of 65 years is eligible for the credit cards of the bank.
2. Is a credit score of 800 good for credit cards of the bank?
A. Yes. A credit score issued by CIBIL™ over 750 is considered valid or acceptable for the credit cards of the bank.
3. What are the factors that may reduce the credit score of a person?
A. There are many factors that may result in the reduction of the credit score of a person, some examples of such factors are mentioned below.
4. Does the payment of utilities through credit cards boost the credit score of the applicant?
A. Yes. It is often noticed that payment of utilities through credit cards boost the credit score of the applicant i.e. has a positive impact on it.
5. For how long does the credit report show any delays in payment of credit card dues?
A. A delay in payment of credit card dues is reflected in the credit report for a period of three years.
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,
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