CreditMantri Finserve Private Limited
4th Floor Sudhama, 36 Vijayaraghava Road,T Nagar, Chennai, Tamil Nadu 600017
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
A credit score is a 3 digit number between 300-900 that gives potential lenders a snapshot of a customer’s credit history and payment record. In India, three credit bureaus are authorised by RBI to issue credit reports and credit scores – CIBIL™, Equifax and Experian. Though all three scores are valid, the CIBIL™ score is generally the most widely used in India.
A credit score of 750 or above is generally considered to be a good score. A person with such a score stands a good chance of having their credit card application approved quickly. A score of 750 or above signifies that the customer has demonstrated financial discipline and good repayment history over a long period of time. Banks, NBFC and credit card companies view such customers as being relatively low-risk borrowers who have previously demonstrated responsible repayment behaviour. Lenders are therefore more willing to approve loan and credit card applications from such customers. If you have a credit score of 750 or above, you stand a high chance of having your application approved quickly and on good terms.
Yes, lenders do approve applications from those with a score of less than 750, but the approval process will take longer, the credit limit will be lower and the interest rate on the balance might be higher. Therefore, while you might be approved for a card with a credit score of less than 750, the terms and conditions of usage on the card might not be attractive. It is advisable to improve your score to 750 before applying for a card so that you can avail of better terms and save a significant amount of money on your repayment burden in the long run.
Most lenders are unwilling to approve credit cards applications from customers with a low credit score – i.e. in general, a score below 750. Credit card companies do not want run the risk of delayed payments or defaults and might be inclined to reject applications from customers with a score of less than 750. However, not all those with a low score have consistently poor credit discipline. There might be several other reasons for a low credit score: You might have a family emergency that requires extra expenditure and leaves you short of funds to make full repayments. Or, if you do not have an adequate number of loans or credit cards to your name, there may not be enough credit history to judge your credit behaviour. This might also cause your credit score to be low.
People with a low credit score who do not qualify for a credit cards can apply for a ‘secured’ credit card. A secured card works exactly the same way as a regular or unsecured credit card except that the customer has to make a fixed deposit with the bank that is issuing the card. In case the customer defaults on a payment, the bank deducts the amount to be paid from the fixed deposit. As the bank runs no risk of losing money, even people with a low credit score can qualify for a secured card. By making full and timely payments on this card, customers can rebuild their credit history and increase their score.
Therefore, while there is no fixed minimum CIBIL™ score to apply for a card, it is recommended that you ensure that you have a score of at least 750 before you apply for a card. 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. Take steps right away to improve your score so that you avoid rejection, and to allow you fast and hassle-free access to credit in the future as well.
CIBIL™ Score Required for HDFC Credit Card
Minimum CIBIL™ Score Required for ICICI Credit Card
CIBIL™ Score for SBI Credit Card
CIBIL™ Score Required for Axis Bank Credit Card
CIBIL™ Score Required for Indusind Bank Credit Card
CIBIL™ Score Required for Amex Card
CIBIL™ Score Required for Kotak Mahindra Bank Credit Card
CIBIL™ Score required for Yes bank Credit Card
Minimum CIBIL™ Score for Bajaj Finance EMI Card
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,
Get low interest loans & Lifetime FREE credit cards
Get customized Credit Health Report
Improve your creditworthiness
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.