684 Credit Score: Is It Good or Bad

A credit score of 684 is usually believed to be a good score. It reflects a mostly stable financial history but with some aspects requiring attention. While it does not disqualify you from accessing credit, lenders may view it as a moderate risk, which could lead to higher interest rates or stricter loan conditions. Improving your credit score from this point can unlock better financial products and terms.

A 684 CIBIL score is typically regarded as average, nudging toward the ‘good’ category on India's credit spectrum. Lenders consider you a moderately reliable borrower, not high risk, but also not among the most trusted. While a score of 684 is strong enough to avoid outright rejection, you might not immediately qualify for top-tier loans or credit cards.

Credit bureaus in India, such as CIBIL and Experian, use distinct scoring models, leading to slight variations in how a 684 score is classified. The details of this representation are as follows:

Yes, you can obtain a personal loan with a 684 CIBIL score. However, expect tougher approval conditions and stricter scrutiny. Banks typically prefer higher scores, so they may offer only limited amounts or demand higher interest rates with this score. Borrowers may even be required to pledge collateral or bring in a co-applicant, especially when income or employment stability is not robust.

 

Non-Banking Financial Companies (NBFCs) and many fintech lenders are often more flexible with applicants in this range, sometimes offering quicker disbursals, but usually at a higher cost. Key factors such as your current income, debt-to-income ratio, and job stability weigh heavily in approval decisions. Demonstrating strong earning potential, presenting robust documentation, and leveraging relationships with existing lenders can make a significant difference in the loan terms you're offered.

Tips to Improve Loan Approval Chances

Let’s have a closer look at some strategies you can follow for improving your credibility and loan terms even if your score is within the fair or low range:

• Add a Co-applicant for Stronger Application: Including a co-applicant, such as a family member with a higher credit score or stable income, can significantly enhance your loan eligibility. Lenders feel more comfortable sharing the repayment risk, which may result in higher approved amounts and better interest rates.
  

• Offer Collateral to Reduce Lender Risk: Pledging collateral, like fixed deposits or property, provides security for the lender. This can tip the scales in your favor even with a lower credit score. Loans against collateral often come with better rates and terms and demonstrate your commitment.
  

• Present Robust Income Proofs: Showing clear and consistent income supported by salary slips, bank statements, and income tax returns, helps assure lenders of your capacity to repay. This transparency can fast-track approvals and occasionally improve the financial terms you’re offered.
  

• Pay Existing Debts on Time: A clean record of timely repayment is one of the most powerful endorsements of your financial discipline. Delays or missed payments quickly erode lender trust and can make future credit more expensive or inaccessible.
  

• Maintain a Low Credit Utilisation Ratio: By keeping your credit utilisation below 30% of your available limit, you demonstrate prudent financial management. High utilisation may suggest overdependence on credit, raising red flags for lenders reviewing your application.

Obtaining a credit card with a 684 CIBIL score is definitely possible, though your selection may be more limited than what’s available to those with higher scores. Most major banks and credit card issuers reserve their top unsecured credit cards for applicants with scores in the higher “good” (700+) or “very good” ranges. By using these cards responsibly and making all payments on time, you can gradually enhance your score and eventually qualify for higher-tier, more rewarding credit cards.

Credit Card Types for Fair Scores

For individuals with fair credit scores, selecting the right credit card can be a strategic way to rebuild and strengthen creditworthiness. Various card types cater specifically to moderate credit profiles, offering manageable limits and simpler approval criteria. The following are common credit card options well-suited for fair scores:

 

Secured credit cards

Secured credit cards require a refundable deposit with the lender, offering nearly guaranteed approval regardless of modest credit history. They are ideal for rebuilding credit.

 

Retail cards with lower limits

Low-limit retail cards are affiliated with particular stores or brands and can be a stepping stone to more robust mainstream cards. Approval criteria are generally relaxed.

 

Credit-builder cards

Credit-builder cards come with modest features and are available to those with fair credit. They’re specifically targeted at helping people demonstrate responsible card usage.

What to Expect: Limits, Charges & Conditions

Credit cards for fair scores like 650-684 typically come with:

• Lower initial credit limits and tight utilisation rules

• Annual or processing fees that may exceed those for premium cards

• Basic rewards, if any—higher-tier perks are generally locked

• Close monitoring from lenders; even a small delinquency may trigger reduced limits or increased charges

While the benefits are modest, these cards lay a crucial foundation for future upgrades.

How to Improve Eligibility

Have a look at these steps to help maximise your approval chances even with a modest CIBIL score:

1. Apply with your main bank: Banks where you have an established relationship, such as savings accounts or past loans, are often more accommodating.

2. Provide complete documentation: Be thorough with your income, job stability, and KYC documents.

3. Start with smaller credit limits and use the card sparingly. Over time, demonstrate discipline by paying dues in full; this builds lender trust and unlocks higher limits and better offers.

A CIBIL report helps both you and lenders make informed financial decisions. The key components are:

Account Information

Details all your credit lines such as loans, auto loans, credit cards, with types, balances, and repayment schedules.

Repayment History

Month-by-month record of payments over several years; any late payments or defaults are highlighted.

Credit Inquiries

Lists all recent "hard" checks triggered by loan or credit applications, indicating how actively you're seeking new credit.

Credit Utilisation Ratio

Shows the percentage of available credit you're using; high utilisation can lower your score.

Personal and Contact Details

Validates identity with information such as PAN, Aadhaar, address, date of birth, and contact numbers.

A 684 CIBIL score stands at the higher end of the “average” credit spectrum, giving you access to a variety of core financial products on Bajaj Markets. While you’re not in the premium range, this score enables you to qualify for key loan types, such as:

Home and Auto Loans

With a 684 CIBIL score, you may be eligible for both home and auto loans, though lenders often view you as a moderate-risk borrower. For home loans, expect slightly higher interest rates and possible limitations on loan-to-value ratios; enhancing your approval chances by adding a co-applicant with a stronger credit profile or demonstrating financial stability can be beneficial. 

Consumer Loans and Buy Now Pay Later (BNPL)

For products like consumer durable loans or Buy Now, Pay Later (BNPL) offerings, lenders tend to reserve the most attractive terms for those with scores of 750 and higher. However, with a 684 CIBIL score, you may still access lower-ticket consumer loans or select BNPL providers, but under more conservative conditions. 

Insurance Premium Financing

A 684 credit score can open doors to insurance premium financing from select lenders. While not everyone in this score range qualifies—some insurers or financiers seek scores above 700—you may still be eligible, provided you submit thorough documentation and prove your stable income. Be prepared for less flexible conditions and possibly higher interest rates compared to high-score applicants. 

With consistent effort and disciplined financial management, you can improve your 684 credit score. Here are some tips you can employ:

Remain Patient, Credit Scores Can Improve

A credit score of 684 provides a decent foundation but can certainly be enhanced with time and effort. Staying disciplined with timely repayments, managing debts responsibly, and avoiding impulsive credit actions are essential steps to gradually boost your score.

Monitor Your Credit Regularly Using Complimentary Tools

Make use of free credit tracking applications and websites to keep an eye on your credit report and score. These services allow you to detect inaccuracies, review your spending and payment patterns, and stay informed about any new credit inquiries.

Consult Experts for Tailored Credit Solutions

If you find it challenging to raise your credit score, seeking guidance from credit specialists or financial advisors experienced in credit repair can be valuable. They can evaluate your individual credit situation, pinpoint problem areas such as inconsistencies or excessive borrowing, and design a customised strategy for improvement.

Ensure Timely Payments

Paying your bills on time is critical to improving your score. Automate payments or set reminders to avoid missed or late payments on loans, credit cards, or utility bills.

Reduce Your Credit Utilisation

Ensure that your credit card balances are lower than the credit limit available to you. Aim for a utilisation ratio below 30%. For example, if your limit is ₹2 Lakhs, keep the usage below ₹60,000.

Limit Your New Credit Applications

Each credit application results in a hard inquiry, which may temporarily lower your credit score. So, apply for credit only when necessary and focus on managing existing accounts.

Check Your Credit Report for Errors

Errors such as incorrect late payments or unrecognised accounts can negatively impact your score. Regularly review your credit report and dispute any inaccuracies with the bureau.

Repay Your High-interest Debts 

Paying off high-interest debts improves your credit profile and reduces your debt-to-income ratio, positively impacting your score.

Maintain a Diverse Credit Portfolio

Having a mix of credit types, such as secured loans, unsecured loans, and credit cards, demonstrates responsible financial behaviour. However, avoid unnecessary borrowing.

Keep Older Credit Accounts Open

Long-standing accounts with positive payment histories contribute positively to your credit score. Avoid closing older accounts unless absolutely necessary.

A 684 credit score represents good credit management and repayment capabilities. It usually helps you access various credit products but with some limitations. By addressing key areas such as timely payments, reducing credit utilisation, and diversifying your credit profile, you can improve your score. With consistent financial discipline, better credit terms and opportunities are well within reach.