How Can I Get a 900 CIBIL Score?

A credit score is a crucial metric that determines your creditworthiness. Most lenders demand you to have a good CIBIL score of 750 and above, to categorise you as a low-risk borrower. This helps you unlock better credit offers as well as instant loan approval. Read on to learn about 7 simple tips on how to get a CIBIL score of 900. But let us first learn about what is a 900 credit score. 

What is a 900 Credit Score?

A credit score above 750 is considered good to help you meet the eligibility criteria set by your lender and proceed with the loan application process. However, a CIBIL score between 850 and 900 demonstrates extraordinary creditworthiness.

A CIBIL score of 900 reflects that you have repaid previous loans on time. It also highlights your history of limited credit utilisation, diverse credit mix, and a robust financial portfolio. Thus, with a 900 credit score, you stand a chance to enjoy attractive terms on your credits.

How to Get a 900 CIBIL Score?

The following are 7 simple tips that can help you boost your credit score and demonstrate your ability to manage your credits:

1. Repay Credit Card Dues on Time

Exercising the habit of repaying your credit card dues on time can help you achieve a perfect CIBIL score of 900. However, it should be noted that missing a payment due date can negatively impact your CIBIL score. To never miss due dates, you should set payment reminders or rely on automatic payment systems. 

2. Limit Credit Utilisation

It is recommended to maintain a credit utilisation below 30% to have a CIBIL score of 750. However, financial experts say limiting your utilisation to 10% or below can help you achieve a CIBIL score of 900. 

3. Consider New Credit Cards

To get a CIBIL score of 900, you should consider thoughtfully before acquiring a new credit card. Each application is inquired thoroughly into your credit report and can negatively impact your CIBIL score. Also, it reflects your credit-hungry nature, projecting your inefficiency in managing finances.

4. Consider Increasing Credit Card Limit

Asking your credit card issuer to increase the limit of your credit card can influence your CIBIL score. This ensures that even when you have a habit of overspending, it stays within your specified card limit, earning a good score.

5. Keep Old Accounts on Your Report

To boost your CIBIL score from 750 to a perfect CIBIL score of 900, you should include your old, well-managed accounts on your credit report. This provides a long credit history, showcasing your regular credit repayment. It reflects your potential to manage credit reliably over time.

6. Limit New Credit Applications

To get a CIBIL score of 900, you should limit new credit applications. Each time you apply for a new credit card, a thorough inquiry goes into your credit report, which negatively impacts your CIBIL score in the short term.

7. Maintain a Healthy Credit Mix

To increase your credit score, you should maintain a healthy mix of different credit types, such as secured and unsecured loans. Managing diverse credit types will showcase your responsible financial behaviour.

Is High Score Worth the Effort?

Having a high CIBIL score of 900 can unlock a host of benefits for you. The top 5 benefits of having a good credit score are outlined below:

1. You can qualify for the best interest rates and loan terms.
2. You will have an increased negotiating power to lower interest rates on loans and credit card balances.
3. With an excellent CIBIL score of 900, you will be able to enjoy better car insurance rates than other applicants with lower credit scores.
4. You can apply for new loans with increased borrowing limits.
5. You can get a discounted purchase price when you buy the latest appliances without paying a security deposit.

Also Read - How to Improve CIBIL Score to Get a Loan at Lower Interest Rates?

How to Check CIBIL Score Online?

You can check your CIBIL score online for free in just 2 minutes. To do so, follow the 3 simple steps mentioned below:

• Step 1: Click on the option of ‘Get Your CIBIL Score’.
• Step 2: Enter essential details such as name, PAN number, contact details, email ID, etc.
• Step 3: After entering the essential details, cross-check it once and then click on ‘submit’.

Also Read - How CIBIL Score is Calculated | A Step-by-Step Guide

To Conclude

A 900 CIBIL score can help leverage your financial profile and reflect your financial responsibility. Periodic checking of your credit report can aid in monitoring the impact of your financial actions, making you act in a financially disciplined manner. 

Remember, a healthy credit history is built over months, and it is important to understand that you cannot achieve a 900 CIBIL score overnight. So, you should be patient and persistent while adhering to the strategies for how to get a CIBIL score of 900.

Disclaimer

We take utmost care to provide information based on internal data and reliable sources. However, this article and associated web pages provide generic information for reference purposes only. Readers must make an informed decision by reviewing the products offered and the terms and conditions. Loan disbursal is at the sole discretion of Poonawalla Fincorp.
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