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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
What is a good CIBIL™ score?
A good CIBIL™ score is one that is 750 or above. A credit score is a three digit number between 300-900. The better your credit history, the higher your score will be.
CIBIL™ is one of the four authorized credit bureaus in India which provide a credit score, the others being Equifax, Experian and CRIF High Mark.
Your score is based primarily on your current and past loan and credit card repayment history, among other factors. It gives potential lenders a snapshot of your credit health and your ability to repay your debts on time.
Your credit score is contained in your CIBIL™ credit report.
Do any other agencies issue credit scores apart from CIBIL™?
Three other credit rating agencies (or credit bureaus) are authorised by the RBI to issue credit scores in India – Equifax and Experian. However, the CIBIL™ credit score is probably the most widely used by potential lenders.
What are the advantages of a good (above750) credit score?
Easier loan/credit card approval process: Lenders generally look for a minimum score of 750 before processing your application. A credit score of 750 or above signifies a customer who has good repayment history. There is a good chance your application will be approved with such a score.
Quicker approval: Once lenders see a good score, the approval process can take just days instead of weeks or months.
Better interest rate: A high score denotes reliable credit behaviour, and banks would like to do business with such customers. You might be offered a low rate of interest in order to gain you as a customer.
Longer repayment period: You might get a longer loan tenure since the lender is confident that you will repay the amount.
Higher loan amount/card credit limit: Since you are reliable with repayments, banks will be willing to extend a larger amount of credit.
How is the credit score calculated?
CIBIL™ collects a large amount of data monthly from your lenders including your:
A complex mathematical formula is used to calculate your credit score based on this and other credit-related data that the lenders send to the credit bureaus.
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 CIBIL™ Score is an indicator of an individual’s credit worthiness. It impacts the individual’s ability to borrow
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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