What counts as a good credit score and how to achieve it

A good credit score is usually 700 and above, though improving it further can unlock greater credit opportunities. To achieve...

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4.5_/5

15.6L Reviews

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800+Cities across India

Why Check Credit Score on Paisabazaar ?

Check Credit Score from All 4 Bureaus

Track Credit Score Seamlessly Every Month

Read Credit Report in Multiple Languages

Why Having a Good Credit Score is Important?

Having a good/high credit score:

improves your chances of credit approval
helps in availing loans at lower interest rates and better loan terms
increases your eligibility for pre-approved offers

What is considered as a good credit score in India?

In India, a good credit score is any number that reflects your responsible credit behaviour and helps you avail credit (loans and credit cards) at best rates and loan terms. However, this number may vary across credit bureaus, as each uses its own scoring model for score calculation

Credit score range across credit bureaus

The following table shows the credit score ranges across bureaus and what each range indicates. Understanding these score ranges can help you assess where you stand and whether your score falls in the good credit score range:

Score Ranges	CIBIL	Experian	Equifax	CRIF High Mark
Excellent	801 - 900	826 - 900	751 - 900	751 - 900
Very Good	761 - 800	776 - 825	701 - 750	676 - 750
Good	701 - 760	701 - 775	601 - 700	601 - 675
Average	601 - 700	601 - 700	526 - 600	586 - 600
Poor	300 - 600	300 - 600	300 - 525	301 - 585
NH/NS/0	New to credit

Meaning of Score Ranges:

Excellent - High chances of getting a credit card or loan on favorable terms
Very good - Good credit history, easy to get a loan or a credit card
Good - Eligible for loans and credit cards with good scope for improvement
Average - High risk of default, making it difficult to qualify for new credit
Poor - High chances of credit rejection, need to improve the credit score
New to credit - No credit history due to never having taken a loan or credit card

Factors That Affect Your Credit Score

There are several factors that credit bureaus consider while calculating your credit score.

Repayment History - Paying EMIs and credit card bills on time helps in improving and maintaining a high credit score.
Credit Utilization Ratio - Utilising a high portion of your available credit limit can lower your credit . Keeping your credit card usage low is recommended.
Number of Hard Enquiries - Making multiple credit applications in a short span can temporarily reduce your credit score.
Credit Age - A longer credit history with consistent, timely repayments can strengthen your credit profile.
Credit Mix - Managing a balanced mix of secured loans (such as home loan or car loans) and unsecured loans (like personal loans) can positively impact your credit score.

How to Achieve a Good Credit Score

You can have a good credit score by following these corrective measures:

Pay all EMIs and credit card bills by their due dates
Maintain a low credit utilization ratio
Avoiding taking loans or credit cards unnecessarily
Monitor your credit report regularly to timely identify errors and fraudulent activities
Keep your old credit account(s) active if possible

How Long Does It Take to Build a Good Credit Score?

Improving your credit score is a gradual process. By consistently practicing good credit behaviour, you can see improvement in your scores in just a few days or in a few years, depending on case-to-case basis.