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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 Yes Bank may use any one or more of the bureau scores to approve or reject your credit card application.

Your credit score will be considered while your lender decides to issue the credit card you want. Having a credit score of more than 750 will get you the best credit card offers with a high credit limit. You would also be able to get low interest rates. Having a low credit score implies that you have a bad credit history. Lenders wouldn’t want to take the risk of issuing credit cards to people who are irregular in their usual payments. You would have to always make sure that you use your credit card judiciously and don’t utilize more than 30% of the credit limit. Using more than 30% might affect your credit score.

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