CIBIL: 8 key indicators of a good credit score that you need to be aware of
Live MintA good CIBIL score, or credit score, is indispensable to procure loans and credit cards at favourable terms. For instance, if Mr Ajay pays his bills on time, never crosses 30 percent of his credit card limit, uses a diverse set of credit types, never defaulted on any bill, and has a long credit history – then the chances of a high credit score are exceptionally high. Best Personal Loan for you at lowest interest rate Instant Apply Conversely, if Mr Tommy often misses on his payments, used 80 percent of his credit card limit, defaulted a number of times on his loan EMIs, then the chances of his low credit score would be high. Credit limits: Higher credit limits and larger loan amounts with responsible repayment can impact the CIBIL score positively, as they show trust from banks.