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Learn how a 718 CIBIL score impacts loan eligibility, credit cards, and financial opportunities, plus tips for improvement.
A 718 CIBIL score places you in a solid position, demonstrating that you have a history of managing credit responsibly. It’s a good credit score that opens doors to various financial opportunities, though it might not always secure the lowest interest rates or the highest credit limits. Wondering, ‘is 718 a good credit score?’—the answer is yes, but there are always ways to improve it further. Understanding what a 718 credit score means can help you optimise your credit health and unlock even better financial options.
A 718 CIBIL score and a credit score might sound similar, but they aren't always the same. A 718 CIBIL score specifically refers to your rating from CIBIL, one of India’s major credit bureaus. When people talk about a credit score, they could be referring to scores from other RBI-licensed bureaus like Experian, Equifax, or CRIF High Mark.
Each credit bureau uses its own scoring model, so while the scores may seem close, the methods for calculating them can vary. So, is a 718 CIBIL score the same as a credit score from another bureau? Not exactly, but the difference is often minor. A 718 credit score reflects responsible credit management and a strong repayment history, making you a trusted borrower for lenders.
Yes, a 718 CIBIL score is generally considered good in India. It shows that you manage your credit responsibly, make timely repayments, and avoid high-risk borrowing habits. With this score, lenders see you as a low-risk borrower, making it easier to qualify for personal loans, credit cards, and even home loans with decent terms. While it might not get you the absolute lowest interest rates, it still reflects strong financial discipline and shows you’re a reliable borrower. This 718 CIBIL score places you in a good position to access a variety of financial products.
A 718 credit score may not be interpreted the same way by every credit bureau. While your financial habits remain consistent, each bureau—whether it's CIBIL, Experian, Equifax, or CRIF High Mark—uses a different scoring model. This means your 718 CIBIL score might not be exactly the same as the score given by other bureaus, although they should generally be close:
Credit Bureau |
Score Range |
718 Score Rating |
|---|---|---|
300 - 900 |
Good |
|
300 - 850 |
Good |
|
300 - 850 |
Good |
|
300 - 900 |
Each bureau has its own system for calculating scores, so slight differences may arise. In most cases, however, a 718 credit score is considered good across all bureaus. While the numbers may vary slightly, the underlying message is the same: you manage your credit responsibly and are seen as a reliable borrower.
A 718 CIBIL score puts you in a solid financial position, unlocking access to various credit products. Whether you're looking for personal loans, credit cards, or home financing, Bajaj Markets offers a wide range of options to match your needs. Here’s what you can expect:
A 718 CIBIL score increases your chances of securing personal loans at competitive interest rates. You may qualify for loan amounts up to ₹55 Lakhs depending on your income and financial situation. Lenders will also evaluate your employment status, repayment history, and any existing financial obligations before making a decision.
With a 718 credit score, you can access a range of credit cards offering rewards, cashback, and lifestyle perks. Your credit limit and the benefits you receive will be determined by your income, credit behaviour, and overall financial health. Selecting a card that matches your spending habits can improve your approval chances and maximise the rewards.
A 718 CIBIL score gives you the opportunity to apply for home loans with attractive interest rates, starting from around 8% p.a. Lenders will review your income, the property’s value, and your debt-to-income ratio to assess eligibility. Increasing your down payment or adding a co-applicant may further boost your chances of approval.
A 718 CIBIL score allows you to apply for business loans, though lenders will also look at your business’s annual turnover and financial stability. Your ability to repay will be assessed based on your business’s performance, profitability, and financial statements. A well-established, financially healthy business is more likely to receive approval for the loan.
With a 718 CIBIL score, you can qualify for vehicle loans, including those for two-wheelers and used cars, often with attractive terms and flexible EMIs. Lenders will assess your stable income, current debts, and credit history when offering financing. Many lenders offer pre-approved loan offers at this score level, making the loan process even smoother.
With a 718 CIBIL score, you are likely to be eligible for pre-approved personal loans, especially if you have a stable income and a strong repayment history. Lenders view scores in this range as an indication of creditworthiness, which can speed up the approval process. Pre-approved loan offers typically involve a soft credit check, meaning your score won’t be affected unless you decide to proceed with the full application. This makes it a hassle-free way to access funds without impacting your credit score.
Pre-approved credit cards are also available to individuals with a 718 credit score. Banks see you as a reliable borrower, making you eligible for cards with benefits such as rewards or cashback. Like pre-approved loans, these credit card offers are usually based on soft inquiries, ensuring your credit score remains unaffected unless you accept the offer. This streamlined process can save you time and effort when applying for credit products.
Here’s an overview of why loans may still be rejected, even with a 718 credit score:
If your existing debts take up a large portion of your income, lenders may hesitate to approve additional loans, even with a solid CIBIL score.
A low or inconsistent income can raise concerns about your ability to repay the loan, despite having a 718 credit score.
Missing or incorrect details in your application can cause delays or rejections, regardless of your CIBIL score 718.
Multiple recent loan or credit applications can indicate financial strain, making lenders cautious, even with a 718 credit score.
Relying heavily on unsecured credit may lead lenders to question your financial stability, even with a CIBIL score 718 means.
If your co-applicant has a poor credit history or weak financial profile, it could affect your loan approval chances.
If you’ve been denied a loan recently, it may raise a red flag with lenders, even with a 718 CIBIL score.
Frequent job changes or address updates can make lenders wary of your financial stability, despite a strong CIBIL score 718.
Despite a good CIBIL score, negative marks such as late payments or defaults may still affect your loan approval.
If your financial behaviour mirrors that of defaulters, lenders may reject your loan application, even with a 718 credit score.
Continually missing payments or using excessive credit can harm your chances of loan approval, even with a strong CIBIL score.
Here’s a snapshot of what you can expect to see in your CIBIL report with a 718 score on Bajaj Markets:
Track the last six months of your credit score and monitor both active and closed credit accounts using the score tracker tool
Set improvement goals using the ‘Improve Your Score’ feature and monitor your progress over the next 3–6 months
Complete an interactive quiz to gain insights into your credit habits and receive personalised tips to enhance your score
Review your credit utilisation and repayment history, with tailored suggestions to help boost your 718 CIBIL score
A 718 credit score generally reflects a consistent pattern of on-time payments, demonstrating your responsible credit management to lenders
Your credit utilisation will likely be under 30%, showing that you maintain a low debt-to-limit ratio and make regular repayments
Expect to see a mix of different credit types, such as loans and credit cards, highlighting your ability to handle various credit accounts
Soft inquiries from banks may appear in your report for pre-approved offers, but these will not impact your CIBIL score
The report will detail your monthly payment history, showing whether payments were made on time, or if any were missed or delayed
Older missed payments or high credit utilisation may still be visible, but their effect on your score decreases as you continue positive financial behaviour
A good credit score increases your chances of qualifying for loans with better terms and higher approval rates.
With a strong credit score, you can secure loans at lower interest rates, saving you money over time.
A solid credit history speeds up the approval process, allowing you to access funds more quickly.
A good credit score often leads to higher pre-approved loan and credit limits, making borrowing easier.
Here’s how you can maintain and improve your 718 credit score for better financial health:
Paying your bills and EMIs on time helps you build a good credit history and raises your 718 credit score.
Try to use less than 30% of your total credit limit. This will help improve your CIBIL score.
Too many credit applications in a short time can hurt your credit score 718 good or bad. Apply only when necessary.
Look at your CIBIL score often to spot errors. This helps you avoid mistakes that could hurt your 718 CIBIL score.
Paying off high-interest loans quickly can lower your debt and improve your 718 credit score.
The longer you have credit accounts, the better it looks for your CIBIL score. Keep older accounts open.
Having both secured and unsecured credit shows you can handle different types of debt, which can help your credit score 718 good or bad.
Talking to a financial expert can help you make the right moves to improve your CIBIL score 718 means.
Yes, with consistent payments and responsible credit use, you can improve your score to 718 within a year. Focus on paying bills on time, keeping credit utilisation low, and avoiding new debt. Regularly monitoring your credit report will also help you stay on track.
Yes, with a 718 CIBIL score, you can qualify for various credit cards, including those offering rewards, cashback, and lifestyle benefits. Lenders view this score as indicative of reliable credit behaviour, making it easier to access credit cards with favourable terms.
Yes, a 718 CIBIL score typically makes you eligible for most loans, including personal, home, and vehicle loans. Lenders view this as a solid score, showing financial responsibility and a low-risk profile, which can help secure loans at competitive rates.
With a 718 CIBIL score, you can qualify for personal loans up to ₹55 Lakhs, depending on your income, repayment capacity, and other factors. Lenders generally consider this score as a good indicator of your creditworthiness.
No, a 718 CIBIL score is considered good in India. It reflects responsible credit management, making you eligible for loans and credit cards with standard terms. While not excellent, it places you in the low-risk category for most lenders.
To improve a 718 CIBIL score, focus on paying bills on time, reducing outstanding debt, and maintaining a low credit utilisation ratio. Keep your credit accounts open, avoid multiple credit applications, and monitor your CIBIL report regularly for errors.
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