753 Credit Score: Is It Good or Bad

A credit score of 753 is considered good and reflects healthy financial behaviour. It means you pay your dues on time and use credit responsibly. Lenders may offer you loans and credit cards with better terms, such as lower interest rates or higher limits. Knowing what a 753 score means and how to maintain or improve it can help you stay creditworthy and make better financial choices.

A credit score of 753 is viewed positively across all major credit bureaus and reflects responsible financial behaviour. It increases your chances of getting credit with better terms. Here’s how a 753 score is classified by different credit bureaus in India:

A credit score of 753 is considered a key cut-off point by many lenders because it reflects strong and consistent credit behaviour. Borrowers with this score are generally seen as low-risk, which improves their chances of loan approval. Lenders are more likely to offer favourable terms, such as lower interest rates, higher loan amounts, and faster processing. This score gives them confidence in your ability to repay on time, making it an important benchmark when evaluating credit applications.

A credit score of 753 gives you access to credit products that come with better rates, faster approvals, and higher limits. Here are some options you may be eligible for with this score:

Home Loans at Favourable Interest Rates

Lenders may offer home loans with lower interest rates and reduced processing charges to borrowers with strong scores. This can help lower your EMIs and total repayment amount. You may also benefit from faster approvals and a higher eligible loan amount, making home ownership more achievable.

Pre-approved Personal Loans

With a 753 score, you may receive pre-approved personal loan offers from banks or NBFCs. These loans involve minimal paperwork, quicker disbursals, and flexible repayment terms. They are often useful for travel, medical needs, or planned expenses without the hassle of a long approval process.

Top-tier Credit Cards

A strong credit score improves your chances of getting premium credit cards with enhanced features. These cards may offer higher limits, cashback, travel rewards, and access to lifestyle benefits like airport lounge access. Responsible usage of such cards can further strengthen your credit profile.

Business Loans for MSMEs and Startups

If you’re a business owner, a 753 score may improve your eligibility for MSME loans. These loans can support working capital needs, expansion, or equipment purchases. Lenders are likely to offer structured repayment plans and better interest rates based on your creditworthiness.

Professional Loans for Doctors, CAs, and Architects

Professionals with a healthy score can apply for specialised loans designed for their practice. These funds can be used for setting up clinics, upgrading equipment, or covering operational costs. Lenders may also offer flexible tenures and minimal documentation for faster access.

Bike Loans with Flexible Tenures

A 753 score helps you secure bike loans on affordable terms. Lenders may offer competitive interest rates, low down payments, and customisable repayment options. This allows you to own a two-wheeler without straining your monthly budget.

A 753 credit score reflects disciplined credit habits, but maintaining it requires ongoing attention. Staying consistent with these simple practices can help you preserve or even improve your score:

Pay Your EMIs and Credit Card Bills on Time

Making payments by the due date helps maintain your score. Even a single missed EMI can negatively affect your repayment history.

Keep Your Credit Usage Within Safe Limits

Try not to use more than 30% of your available credit limit. High utilisation may signal over-dependence on credit and reduce your score.

Check Your Credit Report for Errors

Review your credit report regularly to spot mistakes or unusual entries. Addressing errors early can prevent any damage to your credit profile.

Avoid Applying for Too Much Credit at Once

Multiple applications in a short time lead to several hard enquiries. This may lower your score and make you appear credit-hungry.

Use a Mix of Credit Types Responsibly

Managing both secured and unsecured loans well shows financial discipline. A balanced credit portfolio supports long-term credit health.

Keep Long-standing Credit Accounts Open

Older accounts contribute to your credit history length. Keeping them active may improve your overall score and creditworthiness.

A 753 credit score puts you in a good position but pushing it closer to 850 can offer even better credit opportunities. Making a few consistent changes can strengthen your score further:

Increase Your Credit Limit Without Increasing Your Spending

Requesting a higher credit limit can reduce your utilisation ratio if you continue to spend moderately. This signals better credit control and may raise your score.

Pay the Entire Outstanding Amount Each Month

Avoid making only the minimum payment on your credit cards. Paying the full amount shows financial responsibility and keeps your repayment history clean.

Limit How Often You Apply for New Credit

Frequent credit applications lead to multiple hard enquiries. This can temporarily reduce your score and suggest an over-reliance on borrowed funds.

Maintain a Healthy Mix of Credit Products

Using both secured and unsecured credit responsibly can improve your credit profile. A well-managed variety reflects your ability to handle different credit types.

Keep Your Longest-running Credit Accounts Active

Accounts with longer histories support your credit profile. Keeping them open improves your average credit age, which can positively influence your score.

Clear Any Overdue Balances Immediately

Unpaid dues can pull down your score over time. Settling them quickly reduces risk and helps your credit record recover faster.

If your score drops below 753, it may affect your ability to get loans or cards on good terms. But with steady effort, you can improve it over time:

• Pay your EMIs and credit card bills on or before the due date to build a strong repayment history

• Keep your credit card usage below 30% of the total limit to reduce your credit utilisation ratio

• Avoid applying for several credit cards or loans at once, as this can lead to multiple hard enquiries

• Review your credit report regularly to check for errors, duplicate entries, or suspicious activity

• If you notice mistakes in your report, raise a dispute with the credit bureau as soon as possible

• Keep older credit accounts open, as they add to your credit history and improve your score over time

• Use a mix of credit, such as a loan and a card, to show that you can handle different types responsibly

• If possible, ask for a higher credit limit but maintain your current spending to lower your utilisation

You can check your CIBIL score online at no cost and stay updated on your credit standing. Just follow these simple steps:

1. Click on the ‘Check Your CIBIL Score’ button

2. Fill in your details such as name, mobile number, date of birth, email, PAN, and pincode

3. Select your employment type – salaried or self-employed

4. Agree to the terms and conditions to continue

5. Click on ‘Get Report’ to access your credit score instantly