Find out if you are Credit Worthy

When applying for a credit card or a loan from a bank or an NBFC, having a higher credit score may entitle you to additional perks such as a larger loan amount, a reduced interest rate, and the ability to repay the loan over a longer period of time.

Credit Score Range

A credit score varies from 300 to 850. Always take steps to improve your credit score and get it closer to 860. With a higher credit score, you have a better chance of receiving a good deal on both loans and credit cards.

300 – 499

This score range suggests you are a defaulter

500 – 600

it will be difficult for you to get a loan or a credit card as you are at a high-risk of turning into a defaulter

601 – 660

It suggests you have been struggling to pay the dues on time

661 – 780

Lenders will consider your credit application, However, you may still not have the negotiation power to get the best deal on rate of interest

781 – 850

You have been regular with credit payments and have an impressive payment history

Factors That Impact Your Credit Score

  • Pay your bills on time, every time. This doesn’t just include credit cards – late or missed payments on other accounts, such as cell phones, may be reported to the credit bureaus, which may impact your credit scores. If you’re having trouble paying a bill, contact the lender immediately. Don’t skip payments, even if you’re disputing a bill.
  • Pay off your debts as quickly as you can.
  • Keep your credit card balance well below the limit. A higher balance compared to your credit limit may impact your credit score.

Ready to Know Credit Status?