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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
CIBIL™ is one of the four authorized credit bureaus in India which provide credit score to individuals and businesses. The other credit bureaus are Equifax, Experian and CRIF High Mark.
Your CIBIL™ score plays an important role in getting loans and credit cards sanctioned because it gives lenders an accurate idea of your credit-worthiness. CIBIL™ scores can range anywhere between 300 to 900. If a person has a credit score of 750 or above, it reflects a good history of repayment behaviour and lenders are reassured that the individual is at a high probability of fulfilling all their debt obligations. Lenders are often willing to easily grant credit to individuals with a high credit score.
To determine whether a credit score is good for loan sanctioning, banks and other lenders look through the following aspects:
Additional Reading: What is the minimum CIBIL™ score to get a personal loan?
These are some of the reasons for a low credit score:
Therefore, while there is no fixed minimum CIBIL™ score to apply for a loan, it is recommended that you ensure that you have a score of at least 750 before you apply. If you have a low score, there is a high chance that your application will be rejected, and each rejection causes your credit score to drop even further.
Additional Reading: Reasons for a low credit score
An aspiring loan or credit card applicant must carefully access his/her credit report and ensure that they have a good chance of easily getting a credit facility. If the credit score is low, it makes sense to try and improve the score before applying for credit with a lender. A score between 700-900 will make it easy to get loans approved by lenders.
1. What is the minimum CIBIL™ score to get a loan?
The minimum CIBIL™ score required for a loan is usually in the range of 700 and 750. Having a good score is an indication that the borrower is creditworthy and lenders will easily approve loan application at reasonable interest rates and other terms.
2. Is 700 a good CIBIL™ score?
Yes, a credit score above 700 is considered acceptable by lenders while granting any form of credit.
3. Can I get a personal loan with a 650 credit score?
It may be difficult to get a personal loan at low-interest rates with a credit score of 650. It is advisable to have a credit score above 700 to fetch reasonable loan terms.
4. Is 730 a good CIBIL™ score?
Yes, a credit score above 700 is generally considered favourable by lenders while granting credit facilities to borrowers.
5. What is a bad CIBIL™ score?
CIBIL™ score ranges between 300 and 900. When the score is near 900, it is considered favourable by lenders. A score between 300 and 549 is considered poor, a range of 550 to 700 is considered fair.
6. How can I get a 900 CIBIL™ score?
It usually takes a few months and even years to improve your CIBIL™ score, especially if you do not have a credit history or have a poor credit track record. To get a score near 900, ensure to pay your bills on time and keep credit utilization low. Opt for the right mix of secured and unsecured loans to get a good credit score.
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,
Usefulness of information,
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