787 Credit Score: Good or Bad?

A credit score of 787 is deemed outstanding in India. It proves your excellent credit history, timely repayment habits, and responsible use of credit. With such a score, you are considered a low-risk borrower by most lenders. This in turn can open doors to a wide range of benefits like credit products, lower interest rates, faster loan approvals, and premium credit cards.

In India, credit scores are provided by four important credit bureaus: TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. Though each uses a slightly different scoring model, a 787 credit score falls into the ‘excellent’ category across all major bureaus.

Lenders in India usually consider 750+ as a strong credit score. A 787 score is well above this threshold, positioning you as a highly reliable borrower. Because of this, lenders may offer better terms, faster approvals, and greater access to exclusive credit products such as high-ticket loans and premium credit cards.

With a credit score of 787, you can explore a wide range of financial products on Bajaj Markets—offered by leading banks and financial institutions—with minimal documentation and attractive terms:

Home Loans at Favourable Interest Rates

Home loans come with attractive interest rates along with high-value loan amounts. You can also enjoy flexible and longer repayment tenures, coupled with quick approvals and minimal paperwork to make the borrowing process smoother.

Pre-Approved Personal Loans

Personal loans are available with minimal documentation and faster disbursal, making them ideal for urgent financial needs. Based on your credit profile, you may receive pre-approved offers with attractive loan amounts and longer repayment tenures, offering both convenience and flexibility.

Bike Loans with Flexible Tenures

Bike loans offer financing of up to the full on-road price with low interest rates. You can benefit from longer repayment tenures, along with instant approvals and simple documentation for a hassle-free borrowing experience.

Business Loans for MSMEs and Startups

Business loans of significant amounts are available with quick disbursal and competitive interest rates. These loans come with easy eligibility criteria tailored for SMEs and are suitable for various needs such as working capital, business expansion, or equipment purchase.

Professional Loans for Doctors, CAs, and Architects

Professional loans are tailored to meet the unique financial needs of individuals like doctors, CAs, and architects. They come with competitive interest rates and attractive loan amounts, and flexible tenure options of much longer repayment durations, offering both affordability and convenience.

Top-Tier Credit Cards

With a strong credit profile, you can access premium credit cards that offer exclusive travel, lifestyle, and shopping benefits. These cards come with features like airport lounge access, cashback offers, and reward points, along with higher credit limits and flexible repayment terms for added convenience.

Maintaining your excellent score requires steady financial discipline. Here are some simple tips to follow:

 

Pay All Dues on Time

Timely payments are crucial to maintaining a healthy credit score. Delays or missed payments can negatively impact your score and may affect your ability to secure loans in the future.

 

Keep Credit Utilisation Below 30%

It's important to use only a small portion of your credit limit, ideally below 30%. This shows financial discipline and keeps your credit utilisation ratio healthy, which can positively affect your credit score.

 

Avoid Multiple Loan Applications

Applying for numerous loans in a short period can signal financial instability to lenders. Too many inquiries can lower your credit score, making it harder to secure approval for future credit.

 

Check Your Credit Report Regularly

Regularly monitoring your credit report helps you stay on top of your financial health. It allows you to spot any errors and dispute and correct them before they impact your score.

 

Maintain a Mix of Credit Types

A balanced mix of credit types, including both secured (e.g., car or home loans) and unsecured (e.g., personal loans, credit cards), can positively influence your credit profile. This shows lenders that you can handle different types of debt responsibly.

If you're looking to achieve a perfect credit score and unlock the best financial opportunities, following these proven tips will help you get there.:

 

Keep Credit Usage Below 20%

Maintaining a low credit utilisation ratio not only improves your credit health but also demonstrates responsible credit management. This practice helps boost your creditworthiness for lenders over time.

 

Do Not Close Old Credit Accounts

Keeping older credit accounts open increases the length of your credit history. This plays a significant role in improving your overall credit score, as it reflects stability and experience.

Limit New Enquiries

Frequent credit applications can signal to lenders that you're overextending yourself. To protect your credit score, only apply for credit when necessary, ensuring that inquiries don’t negatively impact your profile.

 

Always Pay More Than the Minimum

Paying more than the minimum payment helps reduce the outstanding balance faster, lowering your interest charges. This shows lenders you are financially disciplined, boosting your credit score in the process.

 

Check Your Report Every Few Months

Regularly reviewing your credit report allows you to stay aware of any changes, potential errors, or fraudulent activities, enabling you to take timely action and avoid negative impacts on your credit score.

A dip in your credit score can impact your access to credit and loan terms. While it may be concerning, it's not a permanent setback. By taking prompt and strategic actions, you can repair your score and regain the trust of lenders. 

 

Here are the steps you can follow to recover and strengthen your credit profile.:

Review Your Credit Report

Spot and dispute errors immediately.

Clear Overdue Payments

Pay off pending EMIs or card bills.

Avoid New Borrowings

Focus on strengthening your current credit.

Use Payment Alerts

Set reminders to pay dues on time.

Retain Old Credit Lines

Keeping old accounts open adds to your history.

A credit score of 787 in India is excellent and can unlock a wide range of financial benefits for you. From easier and hassle-free loan approvals to premium credit cards, the opportunities are many. Remember to maintain your score with timely repayments, low credit usage, and borrowing responsibly. By practicing the right approach, you can continue enjoying these benefits—or even aim for a perfect score.