798 CIBIL Score

798 CIBIL Score - Simple tips to improve and secure better financial options.
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798 CIBIL Score
CHECK SCORE
3 mins read
27-Dec-2024

798 CIBIL Score - Is it good or bad?

A CIBIL score of 798 is considered excellent in India. Scores above 750 indicate strong creditworthiness, and a score close to 800 signifies outstanding financial discipline. Lenders view a 798 score as very low-risk, enhancing your eligibility for loans, credit cards, and other financial products with favourable terms. It reflects responsible credit management and opens up access to premium financial benefits.

How to improve your 798 CIBIL Score?

Although 798 is an excellent score, there are ways to maintain or even improve it. Continue paying all bills on time and keep your credit utilisation low. Avoid applying for multiple credits simultaneously and monitor your credit report regularly for accuracy. These practices help strengthen your credit profile, ensuring access to the best financial products with ease.

How does a 798 CIBIL Score impact interest rates?

A 798 CIBIL score can positively affect your interest rates. With such a high score, lenders often offer lower interest rates on loans due to your low-risk profile. This score can significantly reduce your borrowing costs, as banks and financial institutions compete to offer you favourable loan terms, recognising your strong financial stability and low likelihood of default.

Frequently asked questions

Is 798 CIBIL score good?
Yes, a 798 CIBIL score is excellent, indicating strong financial discipline. This score increases eligibility for favourable loan terms and premium credit cards in India.

Is 798 credit score bad?
No, a 798 credit score is far from bad. It reflects high creditworthiness, enhancing your chances of securing loans and credit cards with competitive interest rates.

Can I get a 798 credit card with?
Yes, with a 798 CIBIL score, you are highly likely to get approved for credit cards. This score qualifies you for premium cards with attractive benefits and exclusive features.

Is a 798 credit score needed for a loan?

A 798 credit score is not mandatory for loan approval but is considered exceptional. This score guarantees easier approval and access to premium terms, including lower interest rates and higher loan limits.

How much can you finance with a 798 credit score?

With a 798 credit score, you can finance significant amounts depending on your income and repayment capacity. Lenders consider this score extremely reliable, offering the highest limits and most competitive terms.

What is the lowest CIBIL score for a personal loan?

The minimum CIBIL score for a personal loan is generally 600. However, scores above 700 are preferred by lenders as they indicate lower credit risk and provide better loan terms and interest rates.

How to increase credit score from 798?

A 798 credit score is already exceptional. To maintain or improve it, ensure consistent on-time payments, keep credit utilisation low, avoid unnecessary inquiries, and monitor your credit report for accuracy.

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