Is 652 a good CIBIL Score?

In India, a CIBIL Score of 652 is considered fair but not ideal. While it may qualify you for loans or credit, you might face higher interest rates or limited credit options. Most lenders prefer a score above 750 for favourable terms. To improve your score, focus on timely payments, reducing credit utilization, and maintaining a healthy credit mix.

How good is a 652 credit rating?

In India, a CIBIL Score of 652 is considered fair but below the ideal range. While you may still get loan approvals, the terms may not be favourable with higher interest rates or stricter conditions. To secure better financial opportunities, it's important to improve your score to 700 or above, which is typically considered a good rating for most lenders.

Can I get approved with a 652 credit score?

A 652 CIBIL Score is considered fair, and approval for loans or credit cards is possible, though not guaranteed. You may be eligible for personal loans, credit cards, or auto loans, but likely at higher interest rates compared to those with better scores. Lenders may also request additional financial documentation or a co-signer to mitigate the risk associated with a fair credit score.

652 CIBIL Score - What it Means to your Financial Future

3 mins read

18-Sept-2024

How to improve your 652 CIBIL Sore?

A CIBIL Score of 652 is considered fair, but there is room for improvement.

Here are steps you can take to boost your score:

Timely payment of EMIs and credit card bills

Ensure all your EMIs and credit card payments are made on or before the due date. Late payments can severely impact your credit score.

Reduce credit utilisation

Try to maintain your credit utilisation ratio below 30%. If your credit card limit is Rs. 1 lakh, aim to use less than ₹30,000 to show responsible credit behavior.

Limit hard inquiries

Avoid applying for multiple loans or credit cards in a short period, as each application results in a hard inquiry, which can lower your score.

Diversify credit mix

Having a balanced mix of secured (home loan, car loan) and unsecured loans (personal loan, credit card) positively influences your score.

Monitor your credit report

Regularly check your credit report for errors and discrepancies. Contact the credit bureau for any corrections needed.

Clear outstanding debts

Pay off high-interest outstanding debts to prevent further credit score deterioration.

Conclusion

A CIBIL Score of 652 is considered fair, indicating some creditworthiness but not high enough for the best financial terms. To improve your score, focus on timely payments, reducing credit utilization, and maintaining a diverse credit mix. Regularly check your credit report for errors and address them promptly. With consistent effort and responsible financial habits, you can gradually enhance your score and access better credit opportunities and lower interest rates.

Remember, improving your credit score is a gradual process that requires patience and disciplined financial habits.

652 CIBIL Score

How to improve your 652 CIBIL Sore?