Credit Score

CIBIL™ score is an important measure that banks and lenders consider when it comes to sanctioning loans and credit cards.

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The minimum ideal CIBIL™ score for easy approval of an IDFC credit card application is 750. A CIBIL™ score of 750 and more is considered good. You will not only get quick approval for your credit card application but also a high credit limit.

The minimum CIBIL™ score needed for the Standard Chartered credit card is 750. A CIBIL™ score lower than 750 will most likely lead to the rejection of your credit card application. Even if Standard Chartered approves a credit card with a CIBIL™ score lower than 750, chances are that the interest rate would be higher.

750 is the minimum CIBIL™ score needed for an RBL Credit Card. RBL Bank is one of the leading banks in India that offers a wide range of credit cards to cater to different customer needs.

A CIBIL™ score of 750 and above is considered good for any loan, secured or unsecured. A personal loan is an unsecured loan that can be used to meet any of your immediate expenses, and has easy eligibility criteria.

A credit score of 625 and above is required to avail of incred personal loans at good interest rates. InCred is a financial services platform that operates online to provide loans quickly and easily, leveraging technology and data-science.

Defaulting on your mobile postpaid bill may impact your CIBIL™ score and report negatively if you already have a history of not paying your bills. Defaulting on this bill as well can hurt your chances of getting a loan in the future.

Timely payment of your phone bill may not improve your credit rating in India. You may make these payments on time, but it has no impact on your creditworthiness. However, these timely payments show you in a positive light concerning the payment of dues.

The top 5 factors that affect your credit rating are payment history, credit utilization ratio, debts owed, tenure of the credit history, new credit, and credit mix. So, if these are bad, they are worse for your credit rating.

In India, EMIs, credit card bills, and loans can affect your credit score. Indian credit bureaus do not take into account household bills, utility bills, and mobile bills.

Yes. A postpaid plan helps with credit score. A postpaid plan is like a loan or a credit card. Generally, you will be charged the subsequent month for the purchases made in the previous month.

Yes! missing even a single payment for any loan EMI or credit card bill affects the CIBIL™ score.

EMIs are payment options where the consumer gets to pay their purchase amount in equated monthly installments over a period of time. In the case of no-cost EMIs, there is no interest charged on the monthly installments. It is a highly cost-effective way of paying your dues.

Your credit score may drop by 100 points if you missed the payment due date by more than 30 days. Sometimes, your credit score may drop by as much as 180 points which is not good for your creditworthiness.

No, generally late payments will not show up on your credit report unless you have defaulted for more than 30 days. But, you may have to incur the late payment fee even if you miss the payment due date by 1 day.

A credit score of 622 is considered to be below satisfactory or fair in India. The approval of loans or credit cards for this score is very difficult. Even if they are approved, you will have to pay a high interest rate.

A credit score of 750 and above is considered excellent in India.

Yes, you can get a personal loan with a CIBIL ™ score of 650.

The CIBIL ™ score depends on the repayment history of the customer. So, taking a fixed deposit will not impact your CIBIL ™ score directly. But, you can always take a secured credit card against the existing FD and make timely payment of bills to improve your CIBIL ™ score.