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.
Why Is The CIBIL™ Score Important For IDFC Credit Cards?
The CIBIL™ (Credit Information Bureau (India) Limited) score determines the creditworthiness of an individual. IDFC Bank considers this factor every time they approve a credit card application. It shows your repayment capacity to IDFC. The higher the CIBIL™ score, the more easily your application gets approved.
How is the CIBIL™ Score Computed?
While computing the CIBIL™ score, 4 factors are taken into account. These include payment history, credit type, duration, credit exposure, and other factors. The weightage given to these four factors in computing the CIBIL™ score is 30%, 25%, 25% and 20%, respectively.