To purchase a credit card, you need to take care of a lot of things like income, current obligation, rent (if any), etc. but don’t you forget to check your CIBIL score in all this. Because the lenders usually require a minimum CIBIL score for credit card. A CIBIL score is a 3-digit number that represents your credit history to the lender, by which they can find out whether you are worthy of a credit card or not. And to find out whether you fit in the lenders criteria or not it is essential you do a CIBIL check. Read this post and how your CIBIL score will affect your credit card approval.
How to Check Minimum CIBIL Score for Credit Card?
To check your CIBIL score, you just have to follow the steps below:-
- Go to CIBIL official website
- Log in to your account
- And know your current CIBIL
If you are a new user, you have to create a CIBIL account first.
- Visit CIBIL website
- Click the ‘Get Your CIBIL Score’ button
- Choose a subscription plan
- Fill up a form
- Submit your PAN, mobile and email address
- Enter the OTP
- And confirm your CIBIL account
What Benefits Does a CIBIL Provide?
When you have a good CIBIL it could help you get instant credit card approvals from the lender. Because it shows that you are a creditworthy applicant for the credit card, and will pay all the bills before the due date arrives. There’s a chance as well where you can negotiate with the lender to increase the credit card limit. And for all this benefit you just need to have a 750 minimum CIBIL score for credit card.
How to Maintain the Minimum CIBIL Score for Credit Card?
Your credit card can make or break your credit history, it is up to you how you want to make your credit history. If you use your credit card over your credit limit, it will have a negative impact over your CIBIL score and it will decrease day by day. Or if you don’t pay the credit card dues and haven’t closed the card yet, it will ruin your credit report and will harm your CIBIL.
To avoid all this and to maintain the Minimum CIBIL Score for Credit Cards, you just have to use it carefully whenever there is a need for it. Never use your credit card for day to day purchases. Use the card only when there is an emergency like hospital bills, etc.
Subscribe to CIBIL Plans
You can also have another option by which you can keep track of your CIBIL score without any hassle. Subscribe to the CIBIL paid plans, and be care free, if there are any changes on your CIBIL score you will get a notification on your email or mobile. And can solve the problem instantly so it won’t harm your CIBIL any longer. The CIBIL plans are affordable and start with INR 550 + GST, you can choose your CIBIL plan as per your needs.
So from now on if you are going to buy a credit card, don’t forget to check the CIBIL score, because if it is below the lender requirement, your application will get rejected.