793 Credit Score – Is It Good or Bad?

A 793 credit score is deemed an outstanding score in India. It signifies a strong credit profile, indicating that you have demonstrated responsible financial behaviour, including timely payments and low credit utilisation. With this score, financial institutions perceive you as a low-risk borrower, which opens the doors to various benefits. 

 

From quick loan approvals to premium credit cards, a score of 793 makes it easier to access favourable financial products. Whether you're looking to apply for a home loan, a personal loan, or simply increase your credit limit, this score gives you a competitive advantage.

In India, your credit score is assessed by four major bureaus, namely TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. Each bureau uses its own model for calculating scores, but a score of 793 is typically interpreted as excellent across the board. 

 

It means you're seen as a highly trustworthy borrower, making it easier to secure credit with favourable terms. Here's how the score is typically viewed by each bureau:

A 793 credit score is above the 750 threshold, which is considered the minimum benchmark for good credit in India. Scores higher than 750, such as 793, place you in an excellent category, making you an attractive borrower for lenders. Here's why 793 is a key cut-off:

Low Risk to Lenders

Lenders see individuals with a 793 score as financially stable, which means they are more willing to offer you loans with better terms, including lower interest rates and higher loan amounts.

Quicker Approvals

A 793 score increases the likelihood of faster loan approvals, as your financial history suggests that you are likely to repay the loan on time.

Better Negotiation Power

With a high score, you may have better leverage to negotiate terms, such as interest rates, loan amounts, and repayment periods, with lenders.

Eligibility for Premium Products

A 793 credit score gives you an advantage in accessing premium financial products, such as higher-limit credit cards, loans with flexible terms, and more.

A 793 credit score makes you eligible for a range of financial products with competitive features. Here are some of the credit products you can explore with this score:

Home Loans at Favourable Interest Rates

With a 793 credit score, you are likely to qualify for home loans with competitive interest rates, higher loan amounts, and flexible repayment tenures. These loans can help you purchase a new home, construct property, or refinance an existing loan. With your strong credit profile, you also benefit from faster processing and higher eligibility.

Pre-Approved Personal Loans

A 793 score significantly increases your chances of receiving pre-approved personal loan offers from banks and non-banking financial companies (NBFCs). These loans typically require minimal documentation, with quick disbursal times and flexible tenures of up to 8 years, making them ideal for urgent or planned financial needs.

Bike Loans with Flexible Tenures

A high credit score like 793 makes it easier to qualify for bike loans with flexible tenures, covering up to 100% financing on the on-road price. These loans come with low interest rates, long repayment tenures, and easy documentation, making bike ownership more affordable.

Business Loans for MSMEs and Startups

For MSMEs and startups, a 793 credit score opens the door to business loans with higher funding limits and competitive interest rates. These loans can be used for working capital, expansion, or equipment purchase, with quick disbursal and minimal paperwork—perfect for growing your business.

Professional Loans for Doctors, CAs, and Architects

If you are a self-employed professional, a 793 credit score helps you access professional loans with competitive interest rates and higher loan amounts. These loans are tailored for professionals like doctors, chartered accountants, and architects, with longer repayment tenures of up to 8 years, helping you manage business expenses, infrastructure upgrades, and more.

Top-Tier Credit Cards

A 793 credit score enhances your chances of qualifying for top-tier credit cards, offering higher credit limits, exclusive rewards, and premium benefits like lounge access, cashback, and discounts on travel and lifestyle purchases.

To maintain your 793 credit score, consistency and smart financial habits are key. Follow these practices to keep your score steady:

Pay Bills and EMIs on Time

Timely payments are crucial for maintaining a healthy credit score. Set up reminders or automate payments to ensure you never miss a due date.

Keep Credit Utilisation Below 30%

Using less than 30% of your available credit shows responsible financial behaviour and helps keep your score stable.

Limit New Loan Applications

Frequent credit enquiries can hurt your credit score. Apply for loans only when necessary to avoid unnecessary hard checks on your report.

Review Your Credit Report Regularly

Monitoring your credit report helps you spot errors or fraudulent activities and take corrective action quickly.

Maintain Old Credit Accounts

Keeping old credit accounts open helps lengthen your credit history, which positively impacts your score.

Diversify Your Credit Mix

Maintaining a healthy mix of secured and unsecured credit can further improve your credit profile.

If you are striving to achieve a perfect credit score, have a read through the tips below to understand how you can better hone your credit habits:

Use Less Than 20% of Your Credit Limit

Keeping your credit usage low reflects well on your credit health.

Avoid Closing Old Accounts

Retaining old accounts helps you build a longer credit history, which can positively affect your score.

Check Your Credit Report Regularly

Monitoring your report helps you spot discrepancies or errors early on.

Limit New Credit Applications

Too many new applications can temporarily lower your score. Apply for credit only when absolutely necessary.

Pay More Than the Minimum Due

If your payments go beyond the minimum due, it helps lower your remaining balance faster and is proof of financial responsibility.

If your score drops below 793, don’t worry—it can be fixed. A dip in your score can still be reversed by implementing the right measures. Have a read below to know what you can do if your score drops below 793:

Review Your Credit Report

Check for any errors or discrepancies that could be affecting your score.

Clear Outstanding Balances

Prioritise paying off overdue bills and EMIs to avoid further damage.

Avoid New Loans

Focus on improving your existing debt rather than applying for new loans.

Set Payment Reminders

Use reminders or set up auto-payments to ensure timely payments in the future.

Maintain Existing Credit Accounts

Keep your old accounts open to help improve your credit history.

 

A 793 credit score is an excellent indicator of your financial health and opens up opportunities for better loan terms, higher credit limits, and premium financial products. By maintaining good financial habits and monitoring your score regularly, you can continue to enjoy these benefits and even aim for a perfect score in the future.