699 CIBIL Score

699 CIBIL Score - Simple tips to improve and secure better financial options.
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699 CIBIL Score
CHECK SCORE
3 mins read
02-Sept-2024

699 CIBIL Score - Is it good or bad?

A 699 CIBIL score teeters on the edge of the fair and good categories, signalling a transition point in your credit journey. While it’s not categorised as poor, this score suggests cautious optimism from potential lenders. Achieving a score above 700 would shift you solidly into the 'good' range, enhancing your attractiveness to creditors.

How to improve your 699 CIBIL Score?

To uplift a 699 CIBIL score, focus on reducing your debt-to-credit ratio by paying down existing balances and maintaining low credit utilisation rates. Ensure timely bill payments and refrain from opening new credit lines unnecessarily. Regularly reviewing your credit report for any discrepancies and correcting errors can also significantly enhance your score.

How does a 699 CIBIL Score impact interest rates?

A 699 CIBIL score can slightly elevate the interest rates offered to you, as lenders perceive a moderate level of risk. While you can still secure loans and credit, the terms may include higher rates compared to those with scores in the higher echelons. Improving your score could lead to more favourable borrowing costs.

Frequently asked questions

Is 699 CIBIL score good?
A 699 CIBIL score is considered fair. It suggests responsible credit management but also indicates potential for improvement to achieve more favourable financial products.

Is 699 credit score bad?
No, a 699 credit score is not bad; it is fair. It positions you at a point where improvements can lead to better credit opportunities and terms.

Can I get a credit card with 699?
Yes, obtaining a credit card with a 699 credit score is feasible. However, the interest rates and credit limits might not be as competitive as those offered to individuals with higher scores.

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