659 CIBIL Score

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

659 CIBIL Score - Is it good or bad?

A 659 CIBIL score is classified as "fair." It reflects an average level of creditworthiness, which means lenders may see you as a moderate risk. While you might be eligible for loans or credit cards, the terms offered may not be optimal, including higher interest rates. Improving this score can open doors to better financial products.

How to improve your 659 CIBIL Score?

To improve your 659 CIBIL score, prioritise paying your credit card bills and EMIs on time. Keep your credit utilisation ratio below 30% of your limit. Avoid multiple credit applications to prevent hard inquiries. Regularly check your CIBIL report for errors and resolve discrepancies. Building a strong repayment history and responsible financial habits can gradually enhance your score.

How does a 659 CIBIL Score impact interest rates?

A 659 CIBIL score can lead to higher interest rates on loans and credit cards. Lenders consider this score to signify moderate credit risk, which reduces your bargaining power. Consequently, your borrowing costs increase. By improving your score, you can secure more favourable interest rates and reduce your financial liabilities in the long run.

Frequently asked questions

Is 659 CIBIL score good?
A 659 CIBIL score is fair but not excellent. While it may qualify you for loans or credit cards, the terms offered may include higher interest rates. Improving your score can help you access more favourable financial products and better loan conditions in the future.

Is 659 credit score bad?
A 659 credit score is not necessarily bad but falls within the fair range. It indicates moderate creditworthiness, which may limit your access to premium financial products. Enhancing your score through timely repayments and responsible credit usage can lead to better financial opportunities.

Can I get a 659 credit card with?
Yes, you can get a credit card with a 659 score. However, the card may come with higher interest rates and stricter credit limits. Building a strong repayment history can help improve your score and qualify for better credit card options.

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