735 CIBIL Score

735 CIBIL Score - Is it good or bad?

A 735 credit score falls within the Good range, according to most credit scoring models such as CIBIL. This score is near the upper end of the Good range, which spans from 650 to 749. Having a 735 credit score indicates responsible credit behaviour, such as timely payments and a low credit utilisation ratio. Lenders generally view individuals with this score as low-risk borrowers, making it easier to qualify for loans, credit cards, and other financial products. However, while this score is considered good, it may not qualify you for the best available interest rates, which are typically reserved for those with Excellent credit scores (750 and above).

What can you get with a 735 CIBIL Score?

A 735 CIBIL Score opens the door to a wide range of financial products and services, often with relatively good terms. With this score, you can generally qualify for:

Credit cards with rewards: Many banks offer credit cards with rewards programs, including cashback and travel points, for individuals with a 735 CIBIL Score.

Home loans: You are likely to qualify for a mortgage, though you may not get the lowest interest rate available, but you will still receive competitive rates.

Car loans: Auto loans with decent terms are typically accessible, although the best rates may still be offered to those with higher credit scores.

Personal loans: Approval for personal loans is common with this score, but improving your score further may help secure better interest rates.

While a 735 CIBIL Score is strong, moving into the Excellent category (750 and above) could provide access to even more competitive rates and premium credit products.

How to improve your 735 CIBIL Score?

Although a 735 CIBIL Score is considered good, there is always room for improvement. Moving your score from Good to Excellent can unlock even better interest rates and financial opportunities. Here are some strategies to help improve your score:

Make on-time payments: Continue paying all your bills on time, as payment history is one of the most important factors in credit scoring.

Lower your credit utilisation ratio: Keeping your credit usage below 30% of your total available credit can help improve your score.

Limit hard inquiries: Avoid applying for multiple credit products in a short period, as each inquiry can slightly lower your score.

Monitor your credit report: Regularly check your credit report to ensure there are no errors or inaccuracies that may negatively affect your score.

By maintaining responsible credit habits and addressing any potential issues, you can gradually move your 735 CIBIL Score into the Excellent range, offering even greater financial benefits.