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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Get answers to commonly asked questions related to credit bureaus
Yes bank has set many eligibility parameters for a person to be able to get a sanction of the credit card. These eligibility parameters include various criteria like age restrictions, minimum income restrictions, employment status, etc. The credit score of a person is one of the main eligibility parameters for the sanction of credit cards.
The bank requires the applicants to have a minimum credit score of 750 to be eligible for the credit cards of the bank. If the credit score of the applicant is lower than 750, the credit card application of the person can be rejected. The bank may sanction the credit card application of a person having a low credit score if they meet the other eligibility criteria set by the bank. Also, such applicants need to provide additional documentation that proves the eligibility of the applicants and the sufficient income level to sustain the credit limit.
A credit score is a three-digit number that is awarded to a person or a business entity for quantifying their creditworthiness. This allows the banks to provide credit cards to applicants that have a sound repayment capacity and a good credit score. India has four credit rating agencies that provide the credit score for any individual or any business entity. These agencies are mentioned below,
CIBIL™ is a preferred credit agency that is referred by Yes Bank when considering a credit card application of any person.
A high credit score is essential for applicants to avail the facility of external finance in the form of loans or credit cards at any point without any hassles. There are several benefits attached to having a high credit score. This makes it essential for every person to maintain a healthy credit score.
Some examples of the benefits of a higher credit score are mentioned below.
YES Bank is a very popular private sector bank in India. The bank has grown from its humble roots to reach every corner of the country and provide competitive banking solutions for its customers within the country and as well as abroad. YES Bank provides many products and services that range from, credit cards, deposits, NRI banking, digital banking, corporate banking solutions, loans and much more. The Bank has an extensive network of 1000 branches catering to its customers across the country. Apart from that, the bank also has set up special branches for women and Small and Medium enterprises.
The bank has multiple variants of credit cards that the customers can avail to meet their financial needs. The bank has set many eligibility parameters for these cards. The prime requirement among these is a healthy credit score.
1. What are the factors that affect the credit score of a person?
A. There are multiple factors that affect the credit score of a person. Some of these factors are mentioned below,
2. How can a person maintain a good credit score?
A. The credit score of a person is one of the crucial factors in determining the loan eligibility or the credit card eligibility of a person. Hence it is essential to maintain a healthy credit score. Some measures to maintain a healthy credit score are,
3. Can a person check their credit score every year?
A. Yes. RBI in the year 2017 has mandated that the credit rating agencies provide free credit score to any person once every year. You can check your credit score for free any number of times using CreditMantri’s free credit score check.
4. What are the documents needed for checking the credit score of the applicant through an online portal?
To check your credit score via an online portal like CreditMantri all you need is your PAN card and mobile number for authentication purposes.
5. Is a credit score of 750 considered to be good?
A. Yes. A credit score of 750 and above is considered to be very good by lenders for credit card application or loan application.
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,
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. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application