The CIBIL is one bureau, who can collect all the previous and present credit card usage report and share with the lenders. The lenders according to that give you supports for financially. They have set one score range from 300 to 900.
As per your score, the bank can give a loan or credit card approval. That’s why it’s necessary to know CIBIL score for a credit card before can apply.
Let’s find out for a credit card how much score do you need? These things can clear your doubt and according to that can work to raise the score level.
300 CIBIL Point
It can show big no from any company. 300 CIBIL score shows don’t know how to utilize a credit card, or either didn’t check own report ever. If you are not monitoring own card score, that thing also impacts on your points.
450 To 500 CIBIL Points
There is no change in your position, it’s number which can take a different position. Otherwise, the first point and this one is in the same place.
550 To 600 CIBIL Points
You should start paying all utility bills on time. So that, slowly you can reach the satisfactory score. It indicates you need to more focus on your repayment, payment and other things to get a good score.
650 To 700 CIBIL Points
With this number, you can get an approval for financial support. A few banks can give support but with a high interest rate. To get a better advantage should start improving your utilization of the credit card.
750 To 800 CIBIL Points
CIBIL score for a credit card this is the perfect score. You can get all the services from the bank and use it as per the requirements. The more you take care about bill dates and due dates it can upgrade your level.
850 To 900 CIBIL Points
When you get that much of score nobody can think twice to give a loan or credit card approval instantly. Every bank can give financial support because it shows you are a responsible person. You know payment, repayment or before the due date payment can upgrade and maintain your highest score.
Improve A CIBIL Score: Three Simple Points For Improve The Score
Pay All Bills On Time
You should pay all utility bills before the due date or on-time. As many of you can forget or delay the payment because of a busy schedule. When you keep doing the same thing again an again, the result you came in CIBIL defaulter list for next seven years. It means not able to apply for any financial support from the bank.
Utilization Of The Credit Card
The less you can use, the more can get the advantages. If a bank can give 50% utilization rights, it doesn’t mean can use all. You should use 20% of the limit. The lenders can follow all your activity.
Check Own CIBIL Score
It’s necessary to follow up own credit score in six months or a year. So that, if there is any mistake can correct it and get privileges.