755 CIBIL Score

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

755 CIBIL Score - Is it good or bad?

A 755 CIBIL score is excellent for Indian borrowers. It indicates a strong credit history and demonstrates that you manage credit responsibly. Lenders consider scores above 750 as ideal for offering the best financial products. With a 755 score, you are eligible for loans, credit cards, and mortgages at favourable terms, including lower interest rates. This score reflects reliability and trustworthiness in financial management.

How to improve your 755 CIBIL Score?

To improve a 745 CIBIL score, focus on timely repayment of loans and credit card dues. Keep your credit utilisation below 30%, and avoid making too many credit inquiries within a short period. Maintaining a healthy credit mix, such as secured and unsecured loans, will also help. Regularly review your credit report for discrepancies. These efforts will improve your score and increase access to better financial offers.

How does a 755 CIBIL Score impact interest rates?

A 755 CIBIL score positively impacts the interest rates offered to you. With a score above 750, you are considered a low-risk borrower, making you eligible for the lowest available interest rates on loans and credit cards. Lenders are likely to offer you the best terms, including premium financial products and lower interest costs, which can significantly reduce your borrowing expenses.

Strategies to push your score to 800+

While a credit score of 755 is commendable, further improvement within the 800+ range can significantly enhance your financial opportunities. Consider the following strategies:

  1. Optimise credit utilisation
    • Maintain a low utilisation rate: Aim to keep your credit card balances below 10% of your credit limit.
    • Regular payments: Consistent and timely payments can positively impact your score.
  2. Strategic credit limit management
    • Consider a credit limit increase: A higher credit limit can reduce your utilisation rate, even if your balance remains the same.
    • Responsible spending: Avoid increasing spending to maintain a healthy credit utilisation ratio.
  3. Diversify credit portfolio
    • Incorporate various credit types: A mix of credit cards, auto loans, and mortgages can demonstrate creditworthiness.
    • Strategic credit use: Consider responsible use of credit for specific needs, such as furniture financing, to enhance your credit profile.
  4. Proactive credit monitoring
    • Regular credit report review: Monitor your credit report for errors or inaccuracies that may negatively impact your score.
    • Utilise credit monitoring tools: Leverage AI-powered tools to efficiently track and improve your credit health.

Frequently asked questions

Is 755 CIBIL score good?
Yes, a 755 CIBIL score is excellent. It reflects responsible credit behaviour and makes you eligible for premium financial products. Lenders view this score as ideal for offering lower interest rates and favourable loan terms. With a score above 750, you are considered a low-risk borrower, increasing your chances of loan approvals with competitive terms and offers.

Is 755 credit score bad?
No, a 755 credit score is not bad. It is an excellent score, indicating responsible credit management. Lenders are likely to offer you competitive interest rates and favourable terms on loans and credit cards. This score places you in a strong position to receive premium financial offers and ensures your eligibility for the best products available.

Can I get a credit card with 755?
Yes, with a 755 credit score, you can easily qualify for most credit cards. Lenders see this score as excellent, making you eligible for cards with premium benefits, such as rewards and low-interest rates. A score above 750 ensures that you receive attractive offers, giving you access to the best credit card options with favourable terms and perks.

How much can you finance with a 755 credit score?

A 755 credit score is considered excellent, making you eligible for significant financing. The exact amount depends on factors like income, debt, and lender policies. However, with a strong credit history, you can likely secure substantial loans for various purposes, including home purchases, car loans, and personal loans.

What is the lowest CIBIL score for a personal loan?

While there's no universal minimum CIBIL score for personal loans, lenders generally prefer scores above 650. However, some lenders may consider lower scores, especially if you have a strong income and limited debt. It's advisable to check with multiple lenders to find the best options for your financial situation.

How to increase credit score from 755?

While a 755 credit score is already excellent, there are strategies to further improve it. These include:

  • Timely payments: Consistently make payments on time to demonstrate responsible credit behaviour.
  • Lower credit utilisation: Keep credit card balances low compared to credit limits.
  • Diverse credit mix: Maintain a mix of credit accounts, such as credit cards and loans.
  • Avoid new credit: Limit applications for new credit cards or loans, as inquiries can temporarily lower your score.
  • Monitor credit report: Regularly review your credit report for errors and take steps to correct them.
Show More Show Less

Related videos

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.

Explore and apply for co-branded credit cards online.

Invest in fixed deposits and mutual funds on the app.

Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.

Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.

Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.

Shop from over 100+ brand partners that offer a diverse range of products and services.

Use specialised tools like EMI calculators, SIP Calculators

Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

GET THE APP

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.