There are different credit score levels as categorised by various credit rating agencies. These indicate a borrower’s credit behaviour and pattern. Here are the different levels that are used for credit scores:

Range of Credit Score

Meaning

750 - 900

  • A score within this range reflects exemplary credit history.
  • With this score, it is easier to get a home loan, personal loan, credit cards and other unsecured loans.
  • It indicates the consistency of timely repayments.

700 - 750

  • A credit score in this range means that a good credit track record and timely repayments.
  • Banks may conduct additional credit analysis as per internal credit policies.

550 - 700

  • A score in this range indicates few irregularities in repayments.
  • Banks consider this score range as risky.
  • Some lenders may consider this score range as eligible for a loan with high collateral and high-interest rate.

300 - 550

  • This scoring range indicates many defaults, possible write-offs, and also, high leverage. Borrowers with a score in this range may find it very difficult to get fresh credit.

 

It is important to maintain a score within the 700-750 range to get easy access to loans and credit cards at favourable terms. This scoring range also means lesser documentation and an easy application process. Borrowers who fall in other score ranges must regularly check their credit score and credit report to ensure that the information is correct. In case of any discrepancy, it is important to report the same to credit agencies and lenders for immediate remediation.