A low credit score can stop you from getting the best credit cards. Some of the top credit card-providing companies have set a credit score requirement. CIBIL, a credit bureau company, provides a free CIBIL score or credit score to show your payment history. You can use your CIBIL score login credentials and check the status. The free CIBIL score ranges from 300-900. The higher the value of your free CIBIL score, the more the creditworthiness there will be.
What is the CIBIL Score Requirement for Credit Cards?
The minimum CIBIL score required to get most credit cards is 750. So, if you score below 750, some top companies might reject your credit card application. Additionally, companies might consider you eligible for a credit card if you have zero or low CIBIL scores but work in a reputed firm and earn well. However, having a good credit history makes the process easier and quicker. However, some banks offer credit cards even if you do not have a credit history or your Free CIBIL score is below 750.
Best 7 Banks that Give Credit Cards with Zero CIBIL Score
The following banks accept your credit card applications even if your free CIBIL score is low or zero. They consider you eligible if you have a salary account with them or a fixed deposit. The top banks are:
- HDFC Bank
- ICICI Bank
- Kotak Mahindra Bank
- Standard Chartered Bank
- Axis Bank
5 Top Benefits On Credit Cards For A Good CIBIL Score Holder
A good credit score makes it easier for you to get a credit card. Besides, you are also eligible for the following credit card advantages if you have a good CIBIL score:
- Availability of top credit cards
- A higher credit limit
- A lower interest rate on credit cards
- Effortless credit card approval
- More negotiating power on interest rates
How To Boost Your CIBIL Score with a Credit Card?
The following methods can help you build a good credit score with a credit card:
- Timely Bill Payment: Repayment history has a 35% weightage on your CIBIL score. Therefore, you must make it a habit to pay your credit card bills on time to build a stronger repayment history. You can set up payment reminders. The auto-pay facility is also a good option to maintain your payments. Also, every credit card comes with a date for paying the minimum due amount or the total due. Usually, the minimum due amount is 5% of the total dues. However, you must try to pay the full due amount within the due date to build a good credit score.
- Manage Your Credit Card Expenses: You must never use your credit card exceeding your repayment capacity. Spending within your income or repayment capacity ensures timely credit bill payments. Thus, you build a good CIBIL score. Furthermore, the best way to maintain a good CIBIL score is by spending within 30% of the credit limit.
- Check Your Credit Report: You must check your credit report for errors. Often errors have a negative impact on your CIBIL score. So, check your credit report thoroughly. You must see what kind of error is present in your report, i.e., whether it is a personal detail or transaction-related. Try to rectify the error as soon as possible.
- Clear Debts Soon: You must always strive to clear your credit card debt quickly. Always pay the total due amount. Also, you must keep in mind that paying the minimum due amount each month can land you in a huge debt. Moreover, you will have high interest too, which can go up to 30-45% annually. So, only spend what is essential and clear off the debts on time.
Concludingly, if you want to enjoy the maximum credit card benefits and have seamless loan approvals, you must ensure that your credit score after CIBIL Score Login is 750 or more.