658 CIBIL Score

658 CIBIL Score - Simple tips to improve and secure better financial options.
CHECK SCORE
658 CIBIL Score
CHECK SCORE
3 mins read
13-Jan-2025

658 CIBIL Score - Is it good or bad?

A 658 CIBIL Score falls under the "fair" category. It indicates average creditworthiness, meaning lenders might view you as a moderate risk. While you may qualify for loans or credit cards, the terms might not be favourable, such as higher interest rates. Improving your score can increase your chances of better financial opportunities.

How to improve your 658 CIBIL Score?

To improve your 658 CIBIL Score, ensure timely repayment of your loans and credit card bills. Maintain a low credit utilisation ratio, ideally below 30%. Avoid multiple loan applications to minimise hard inquiries. Regularly check your CIBIL report for errors and correct discrepancies. Developing disciplined financial habits over time can significantly boost your score.

How does a 658 CIBIL Score impact interest rates?

A 658 CIBIL Score may result in higher interest rates on loans and credit cards. Lenders consider such a score as moderate risk, which increases borrowing costs. Borrowers with this score often miss out on the best financial offers. By improving your score, you can negotiate better interest rates and reduce your overall financial burden.

Frequently asked questions

Is 658 CIBIL Score good?
A 658 CIBIL Score is considered fair but not ideal. It reflects average creditworthiness and may limit your access to favourable loan terms.

Is 658 credit score bad?
A 658 credit score is not bad but falls in the fair category. It signals moderate risk and limits financial opportunities.

Can I get a 658 credit card with?
Yes, you can get a credit card with a 658 score, but the terms may include higher interest rates and lower limits.

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