748 CIBIL Score

748 CIBIL Score - Simple tips to improve and secure better financial options.
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748 CIBIL Score
CHECK SCORE
3 mins read
22-Nov-2024

748 CIBIL Score - Is it good or bad?

A 748 CIBIL Score is generally considered good in India. It indicates responsible credit behaviour, such as timely repayments and good credit management. With a score of 748, you are likely to be eligible for loans and credit cards with favourable terms. However, to get the best interest rates and offers, a score above 750 is often preferred.

How to improve your 748 CIBIL Score?

To improve your 748 CIBIL score, focus on clearing outstanding debts and paying credit card bills on time. Limit the number of credit applications and maintain a low credit utilisation ratio. Regularly check your CIBIL report to rectify any discrepancies. Consistent credit management will gradually enhance your score beyond 750.

How does a 748 CIBIL Score impact interest rates?

A 748 CIBIL score can help you secure loans or credit at moderate interest rates. While it is good, lenders often offer their best interest rates to those with scores above 750. You may still qualify for credit, but improving your score slightly could save you on interest, making loans and credit cheaper in the long term.

Frequently asked questions

Is 748 CIBIL score good?
Yes, a 748 CIBIL score is considered good. It reflects responsible credit behaviour and opens the door to various financial products. However, improving it slightly can lead to better interest rates and loan terms.

Is 748 credit score bad?
No, a 748 credit score is not bad. It is classified as good and indicates responsible financial habits. However, a score above 750 could unlock even better offers and lower interest rates.

Can I get a credit card with 748?
Yes, you can get a credit card with a 748 CIBIL score. Lenders will generally approve your application, and you might receive decent credit limits and offers. However, a higher score could lead to even better benefits.

Is 748 credit score needed for a loan?

No, a 748 credit score is not strictly needed for a loan. However, it is considered a good credit score, and having it can make you eligible for better loan terms, such as lower interest rates and higher loan amounts.

How much can you finance with a 748 credit score?

The amount you can finance with a 748 credit score depends on various factors, including your income, debt-to-income ratio, and the type of loan you're applying for. Generally, a good credit score like 748 can help you qualify for higher loan amounts and better interest rates.

What is the lowest CIBIL score for a personal loan?

There is no fixed lowest CIBIL score for a personal loan. However, most lenders prefer a CIBIL score of 700 or above for favourable loan terms. A lower score might still be considered, but it could result in higher interest rates and stricter eligibility criteria.

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