788 Credit Score – Is It Good or Bad?

A credit score of 788 is deemed an indicator of great financial health in India. It indicates your regular repayments, controlled credit usage, and sound financial behaviour. Such a score positions you as a low-risk borrower, making you eligible for premium financial products, competitive loan terms, and quicker approvals. Whether it's a home loan, credit card, or business loan, this score strengthens your chances with most lenders.

In India, there are four key credit bureaus that evaluate credit scores. These are TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. While each has its own distinct scoring range, a score of 788 is considered excellent across all of them.

A 788 score gives you a robust financial standing and may help you secure loans with more favourable terms and reduced costs.

A credit score of 788 opens the door to a wide range of financial advantages, including access to lower interest rates, faster loan approvals, and higher credit limits. This strong score positions you as a reliable borrower who can enjoy premium credit card offers and exclusive financial products:

Lower Interest Rates
Lenders offer better rates on loans and credit cards.

Faster Approvals
Reduced documentation and quicker decision-making.

Higher Loan Eligibility
Access larger loan amounts.

Pre-approved Offers
Easy access to personalised financial products.

Lower Processing Charges
Some lenders waive or reduce processing fees.

Greater Negotiating Power
You can request better terms or higher credit limits.

Most lenders in India consider a credit score above 750 as good. A score of 788 goes beyond that threshold and indicates strong creditworthiness. Lenders often prioritise applicants in this range for pre-approved loans, higher credit limits, and premium cards. Simply put, a score like 788 can help you get better offers and smoother approvals.

A credit score of 788 makes you eligible for a wide range of credit products from multiple financial partners on Bajaj Markets. These come with minimal documentation, quick processing, and attractive terms.

Home Loans at Favourable Interest Rates

Home loans are offered with competitive interest rates, ensuring borrowers benefit from affordable repayment terms. These loans typically come with flexible repayment tenures and quick approval processes, requiring minimal documentation. This makes the entire home buying process smoother and more accessible.

Pre-Approved Personal Loans

Personal loans are ideal for addressing urgent financial requirements, thanks to their simple documentation and rapid disbursal. With a strong credit score, you could qualify for pre-approved loan offers, which come with flexible repayment periods, allowing you to manage your financial needs effectively.

Bike Loans with Flexible Tenures

Bike loans offer full financing options, making it easier to purchase your desired two-wheeler. These loans are designed with flexible repayment tenures and low interest rates, along with fast approval and straightforward documentation, ensuring a hassle-free buying experience.

Business Loans for MSMEs and Startups

Business loans are designed to support MSMEs and startups with minimal documentation and fast processing times. These loans cater to various needs, from working capital to expansion, and are ideal for purchasing assets or improving operational efficiency.

Professional Loans for Doctors, CAs, and Architects

Tailored to meet the needs of professionals, these loans offer flexible repayment terms and competitive interest rates. Designed specifically for individuals such as doctors, CAs, and architects, these loans provide the financial support needed to expand businesses, set up new practices, or improve infrastructure.

Top-Tier Credit Cards

Premium credit cards provide a range of benefits, including exclusive rewards on travel, shopping, and lifestyle purchases. These cards offer higher credit limits, along with perks like cashback and airport lounge access, all designed to suit the needs of those seeking enhanced financial flexibility and convenience.

Maintaining a high score requires consistent financial habits. Here are some effective steps you can follow to ensure your score remains strong:

Pay EMIs and Credit Card Bills on Time
Timely repayment of EMIs and credit card bills is crucial for maintaining a healthy credit score. Missing payments can negatively impact your score and increase your debt burden.

Keep Credit Utilisation Under 30%
It's important to maintain a low credit utilisation ratio. Avoid maxing out your credit limit, as high credit usage signals financial strain and can negatively affect your score.

Avoid Frequent Loan Applications
Applying for multiple loans in a short period can cause multiple hard inquiries on your credit report, which may lower your score. Apply only when necessary to protect your credit health.

Check Credit Reports Regularly
Reviewing your credit report regularly helps you spot errors or discrepancies that could affect your score. Reporting and resolving these issues promptly ensures your credit history remains accurate and up-to-date.

Maintain a Mix of Credit Types
Having a balance of secured and unsecured loans helps demonstrate responsible borrowing behaviour. A diverse credit mix is viewed positively by lenders and can contribute to a better credit profile.

If you're aiming for a perfect credit score, have a look at these smart practices to move further towards your goal:

Limit Credit Usage to Below 20%
Keeping your credit usage under 20% reflects strong financial discipline and improves your creditworthiness, which can positively influence your credit score over time.

Retain Old Credit Accounts
Maintaining older credit accounts helps lengthen your credit history, which positively impacts your credit profile. Lenders view long-established accounts as a sign of financial stability.

Avoid Unnecessary Credit Enquiries
Frequent credit inquiries within a short time can hurt your score, as it signals potential financial stress. Only apply for credit when it is truly necessary.

Pay Full Outstanding Amounts
Paying the full outstanding amount on time, rather than just the minimum, demonstrates financial responsibility and prevents interest accumulation, which benefits your credit score and reduces debt.

Monitor Reports Every Few Months
Regularly reviewing your credit report allows you to identify and address inaccuracies or fraudulent activity early, helping you maintain a healthy credit score and avoid future financial issues.

If your credit score falls below 788, take the following actions to improve it:

Review Your Credit Report
Regularly check your credit report for errors, missed payments, or fraudulent activity to maintain a healthy credit score.
Clear Outstanding Dues
Pay off overdue EMIs and credit card bills promptly to avoid late fees, interest charges, and negative impacts on your score.
Limit New Credit Applications
Applying for too many loans or credit cards can increase debt and hurt your credit score, so be selective when applying.
Set Payment Alerts
Set up reminders for due dates or automatic payments to ensure you never miss a payment, avoiding penalties and credit score drops.
Maintain Long-Standing Accounts
Keeping older, active accounts open improves the length of your credit history, which positively impacts your credit score.

A credit score of 788 in India is an excellent indicator of financial responsibility. It gives you access to a wide variety of financial products with better rates and faster approvals. By maintaining good credit practices, you can enjoy these benefits long term—and even work your way up to a perfect score.