728 CIBIL Score: Is it Good or Bad

A credit score of 728 is a solid indicator of reliable financial behaviour and responsible credit management. Falling within the 'good' range in most scoring models, this score allows you to access competitive loan terms, credit cards, and financial products.

The terms CIBIL score and credit score are often used interchangeably. They are not the same. A credit score is a broader term which refers to a numerical representation of your creditworthiness. This score can be issued by any of the credit bureaus functional in India, such as: 

• TransUnion CIBIL

• Experian

• Equifax

• CRIF High Mark

On the other hand, a CIBIL score refers specifically to the credit score issued by TransUnion CIBIL. A 728 CIBIL score, therefore, indicates the rating assigned by this bureau alone, not by other credit bureaus.

Yes, most financial institutions consider a CIBIL score of 728 to be good. It indicates that you have a strong credit history and responsible repayment behaviour. With a score in this range, you are likely to be eligible for most loans and credit cards at competitive interest rates.

Credit bureaus assess credit scores on slightly different scales. But is a CIBIL score of 728 good or bad? While a CIBIL score of 728 is generally considered good, its exact categorisation may vary depending on the credit bureau. Below is a comparison:

A CIBIL score of 728 means lenders regard you as a low-risk borrower. This could result in easier approvals and favourable terms, though achieving a higher score may unlock premium financial benefits.

A CIBIL score of 728 allows access to most credit products. Here is a breakdown of popular credit products you can access with this score:

Personal Loan Available for a 728 Credit Score

A CIBIL score of 728 means you are a good candidate for a personal loan. With this score, you may be able to get personal loans on Bajaj Markets%, at affordable interest rates.

Credit Card Options with a 728 Credit Score

A CIBIL score of 728 qualifies you for premium credit cards. You can explore cashback cards, travel cards, rewards cards, and fuel cards based on your spending habits.

Home Loan Available for a 728 CIBIL Score

Lenders may also offer favourable terms such as lower interest rates and longer repayment tenures with this score.

Business Loan Available for a 728 CIBIL Score

A score of 728 supports your creditworthiness in the eyes of lenders.

Vehicle Loan Available for a 728 CIBIL Score

With a CIBIL score of 728, you surpass the minimum eligibility typically required for a vehicle loan. For instance, multiple lenders on Bajaj Markets% offer up to 100% Loan-to-Value (LTV). This helps you finance the full cost of your vehicle through loans from most leading banks and NBFCs.
Disclaimer: Credit approval is subject to the lender’s internal policies, eligibility criteria, and documentation.

A CIBIL score of 728 makes you eligible for pre-approved personal loan and credit card offers from many lenders, especially if you have a stable income and low existing debt. However, with a score closer to 900, you can get better pre-approved offers.

A lender may reject your loan application even when you have a good CIBIL score of 728. This may be due to several factors beyond just your credit score. The key reason may be the eligibility criteria set by the lender. 

Here are the most common reasons your loan application may have been denied despite a good score:

• High Existing Debt: If you already have multiple loans or significant outstanding credit card dues, lenders may consider your profile to be one with higher risk due to your existing debt obligations.

• Too Many Recent Applications: Applying frequently or having multiple loan applications can make you appear credit-hungry, which may lead to rejection.

• Poor Repayment History: Loan applications may be rejected if your credit report shows settled loans, delayed payments, or bounced EMIs, as these indicate poor repayment history.

• Unstable Income or Employment: Unstable income or frequent job changes can raise concerns about your repayment ability, increasing the risk of default in the eyes of lenders.

• Inaccurate Application Details: Providing incorrect or inconsistent information on your application can result in rejection.

• Incomplete Documentation: Lenders may also reject your loan application if the required documents are missing or incomplete.

A CIBIL score of 728 reflects a good credit profile, but reviewing your report for detailed insights can help maintain or improve it further. Here’s how your report may appear on the Bajaj Markets app:

1. Score History

You will see a visual graph showing your credit score trend over the past six months. This helps you track improvements or drops and understand what caused them. If you’ve just joined the app, it may show only your current score.

2. Credit Factors Breakdown

This section highlights what’s working in your favour and what needs fixing:

• Repayment History: Shows how many payments you've made on time vs late. For instance, 96% on-time payments is a strong indicator of good repayment discipline.

• Card Limit Utilisation: Keeping usage low is marked ‘Good’.

• Length of Credit History: A longer credit history contributes positively.

• Credit Mix: If you only have one type of credit (e.g., only unsecured loans), this may appear as ‘Fair’.

• Credit Enquiries: Multiple recent enquiries can mark this section as ‘Poor’.

3. Loan Account Summary

For each active loan, you can view:

• Bank and loan type (e.g., unsecured loan from HDFC Bank)

• Sanctioned and outstanding amounts

• EMI amount and repayment history

• Last payment date

4. Credit Card Overview

You can view card details such as:

• Total credit limit and utilised limit

• Created date

Tracking this helps avoid overutilisation, which can lower your score.

These insights make it easier to manage your credit health, correct issues early, and maintain or improve your 728 score.`

After 'Is a credit score of 728 good?', the next common question is ‘How to achieve and maintain a good credit score?’. Maintaining a score of 728 or improving it further requires discipline and consistent financial habits. Here are some actionable tips:

• Pay on Time

Ensure timely payments of all EMIs, credit card bills, and utility dues to maintain a positive repayment history.

• Monitor Credit Utilisation Ratio

Keeping the credit utilisation under 30% demonstrates responsible credit management.

• Review Credit Reports Regularly

Check your credit reports for errors and disputes that could inadvertently lower your score.

• Avoid Multiple Hard Inquiries

Limit the number of loan or credit card applications to prevent unnecessary hard inquiries on your credit profile.

• Pay Down Existing Debt

Reducing outstanding debt improves your debt-to-income ratio, positively impacting your credit score.

• Keep Older Accounts Open

Maintaining long-standing accounts contributes to a healthy credit history and boosts your credit score.

• Diversify Your Credit Portfolio

Manage a healthy mix of secured (home loans) and unsecured (credit cards) credit to show lenders you can handle different credit types.

• Set Up Automatic Payments

Automating payments ensures you never miss a due date, maintaining a consistent repayment record.