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What a 748 CIBIL Score Means: Is It Good or Bad?

Learn how a 748 credit score impacts your creditworthiness and discover tips to unlock even better financial terms.

A credit score of 748 is categorised from good to excellent from several bureaus, yet reflects consistent financial discipline and responsible credit usage. Borrowers with a 748 credit score are considered low-risk, making them eligible for competitive interest rates, higher credit limits, and premium credit products. While this score already opens doors to significant financial opportunities, improving it further can help you access even better terms and benefits.

Are 748 CIBIL and Credit Scores the Same

No, a 748 CIBIL score and a credit score are not the same. A credit score is a three-digit number that represents an individual's creditworthiness, calculated by credit bureaus based on factors like payment history, credit utilisation, and length of credit history. In India, there are four major credit bureaus, namely TransUnion CIBIL, Equifax, Experian, and CRIF Highmark. Each bureau uses its own proprietary algorithm to calculate credit scores, resulting in slight variations between them. A 748 CIBIL score refers specifically to the score provided by TransUnion CIBIL, one of the four licensed credit bureaus in India. While the scoring range is generally consistent across bureaus (300 to 900), the methodologies and data sources may differ, leading to variations in the scores provided by each bureau.

Is 748 a Good CIBIL Score

Yes, a 748 CIBIL score is considered good. Lenders typically view this score favorably, as it indicates responsible credit behavior and a low risk of default. With a score in this range, you are likely to qualify for loans and credit cards with competitive interest rates and favorable terms. However, while a 748 score is good, aiming for a higher score can unlock even better financial opportunities. For instance, a score above 750 may provide access to the best interest rates and premium credit card offers. If you're looking to improve your score, focus on maintaining timely payments, reducing credit utilisation, and avoiding unnecessary credit inquiries. Keeping a regular check on your credit report for any errors and disputing any inaccuracies can also help improve your score over time.

What Does a 748 Credit Score Mean Across Different Bureaus

A 748 credit score is generally classified as very good across all major credit bureaus in India:

Credit Bureau Credit Score Range 748 Credit Score

TransUnion CIBIL

300 – 900

Good

Experian

300 – 850

Very Good

Equifax

300 – 850

Very Good

CRIF High Mark

300 – 900

Excellent

A 748 CIBIL score signals that you have a strong credit profile, marked by timely payments and low credit utilisation. Lenders are likely to view you as a reliable borrower, offering favourable terms and faster approvals for loans and credit cards.

What Credit Product Can be Availed with CIBIL Score of 748

A 748 CIBIL score is considered good in India, reflecting responsible credit behavior and making you eligible for various financial products. Here's a breakdown:

Personal Loan for 748 Credit Score

With a 748 CIBIL score, you are likely to qualify for personal loans from most lenders. While some banks prefer a score above 750 for optimal interest rates, a 748 score still positions you favorably. Lenders may offer competitive interest rates and flexible repayment terms.

Credit Card Options with 748 Credit Score

A 748 CIBIL score enhances your chances of being approved for a credit card, though it may not guarantee the highest-tier cards. You might be eligible for standard credit cards with moderate credit limits and interest rates. Secured credit cards or those from your existing bank could also be viable options.

Vehicle Loan Available for 748 CIBIL Score

For a 748 CIBIL score, obtaining a vehicle loan is feasible. Most lenders require a minimum score of 750 for the best terms. However, your score still qualifies you for loans with competitive interest rates and favorable terms. Factors like income and existing obligations will also influence loan approval and conditions.

Will I get Preapproved Loan and Credit Card Offer with 748 CIBIL Score

Yes, a 748 CIBIL score is considered good and may qualify you for preapproved loan and credit card offers. While some lenders may prefer scores above 750 for optimal terms, a 748 score still positions you favorably for approval.

Why Was My Loan Rejected Despite a Good CIBIL Score of 748

Even with a good CIBIL score, loan rejection can occur due to factors like:

High Debt-to-Income Ratio

A high ratio indicates existing debt obligations may hinder repayment capacity.

Frequent Loan Applications

Multiple recent applications can signal credit-seeking behavior, raising lender concerns.

Employment Instability

Frequent job changes or gaps can be perceived as financial instability.

Inaccurate or Insufficient Documentation

Missing or incorrect KYC documents can lead to application rejection.

What to Expect in a CIBIL Report When Your Score is Around 748

A 748 CIBIL score typically reflects:

Timely Payments

Consistent on-time bill and loan repayments.

Moderate Credit Utilisation

Responsible usage of available credit.

Diverse Credit Mix

A healthy combination of credit types, such as credit cards and loans.

Limited Recent Inquiries

Few recent credit applications, indicating stable credit-seeking behavior.

Benefits of Having a 748 Credit Score

A 748 CIBIL score provides numerous financial advantages, including:

Streamlined Loan Approvals

Your strong credit profile increases the likelihood of lenders approving your loan applications swiftly.

Competitive Interest Rates

With a 748 CIBIL score, you qualify for attractive interest rates, reducing your borrowing costs.

Access to Premium Credit Cards

A CIBIL score 748 makes you eligible for credit cards with cashback, rewards, travel benefits, and other exclusive features.

Higher Credit Limits

Lenders are more inclined to approve higher credit limits, providing increased financial flexibility for large expenses.

Better Insurance Premiums

Certain insurers factor credit scores into premium calculations, and a 748 score may result in lower rates.

Emergency Credit Availability

A CIBIL score 748 means faster access to personal loans or lines of credit during financial emergencies.

Leverage for Negotiation

You can negotiate better loan terms, such as reduced fees, extended tenures, or customised repayment schedules, with a strong credit score like 748.

How to Maintain & Improve a 748 Credit Score

A 748 CIBIL score is impressive, but maintaining or improving it requires continued diligence. Here’s how:

Pay Bills on Time

Ensure that all EMIs, credit card dues, and other payments are made on or before the due date. Timely payments are critical for maintaining your score.

Maintain Credit Utilisation Under 30%

Keep your spending below 30% of your total credit limit. For example, if your limit is ₹1 lakh, ensure your expenditure does not exceed ₹30,000.

Monitor Your Credit Report

Check your credit report regularly for errors or inaccuracies. Rectify any discrepancies promptly to protect your credit score.

Avoid Frequent Credit Applications

Refrain from applying for multiple credit cards or loans within a short period, as hard inquiries can temporarily lower your score.

Maintain a Balanced Credit Portfolio

A mix of secured loans (e.g., home loans) and unsecured loans (e.g., personal loans) demonstrates responsible credit behaviour.

Pay Down Outstanding Debt

Systematically reducing your debts lowers your debt-to-income ratio and enhances your creditworthiness.

Retain Older Credit Accounts

Keep long-standing credit accounts active, as they add to your credit age and positively impact your score.

FAQs

How good is a 748 credit score?

A 748 credit score is considered good, in many models it even qualifies as very good. It’s well above average, opening doors to attractive loan terms and credit products. So, a 748 credit score puts you in a favorable borrowing position.

Boosting a 748 credit score to 800 requires maintaining on-time payments, reducing credit utilisation, avoiding new credit inquiries, and keeping older accounts open. Consistent discipline in these areas helps elevate a 748 credit score into the “excellent” range over time.

Exact figures for a 748 credit score are rare. However, credit scores in the 740–799 range span “very good” to “excellent,” held by a significant but not majority share of borrowers, making a 748 credit score above average and not extremely common.

Yes. A 748 credit score qualifies you for home loans, and lenders often extend favorable interest rates. For instance, PNB Housing Finance offers 8.50% and L&T Finance applies 8.60% for eligible applicants, demonstrating that you can comfortably secure financing.

Yes, a 748 CIBIL score is considered good for a 19-year-old. While the average credit score for individuals in their late teens and early twenties is around 680 , a score of 748 indicates responsible credit behavior and positions you well for favorable financial opportunities.

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