Borrowed from slice, credit score is 758.

[karneel]

I borrowed from slice in btech first year, i completed my graduation last month, there are no late payments. Is my credit score low? Will i not have many opportunities for loans and credit cards? Will it be hard for me to get a good credit card?

 

[wanderer0]

As long as you paid it back on time, it's fine. 758 is not a bad start. You can make it better over time. Anything above 775 is good enough for most cards and loans.

 

[karneel]

So, how to make it better? I have no slice borrows active right now and i dont have any cc's. Iam also thinking of closing that slice account.

 

[Virtual King]

Is my credit score low?

758 is an "excellent" score as per this source, which says that "a good CIBIL score typically starts from 700, while a score of 750 and above is considered excellent." So, 758 is an excellent score, especially for starters. No need to worry. As per the same source, the co-relation between CIBIL Score, creditworthiness and loan approval chances are tabulated below:-

CIBIL Score Range	Creditworthiness	Loan Approval Chances
750 - 900	Excellent	Very High – Quick approval and best interest rates
700 - 749	Good	High – Easy loan approval with favorable terms
650 - 699	Fair	Moderate – Possible approval, but higher interest rates
550 - 649	Poor	Low – Difficult to get a loan, stringent conditions
300 - 549	Very Poor	Very Low – High rejection risk

You can go to the CIBIL official website and learn more about CIBIL Scores, loans, credit mix, etc. One such link is here.

Hope this helps. 🙂

 

[praful47]

I borrowed from slice in btech first year, i completed my graduation last month, there are no late payments. Is my credit score low? Will i not have many opportunities for loans and credit cards? Will it be hard for me to get a good credit card?

No worries , now start taking credit cards as per your need minimum 2-3 and you will see your credit score will increase .

If you don't need slice anymore then close it .

 

[karneel]

758 is an "excellent" score as per this source, which says that "a good CIBIL score typically starts from 700, while a score of 750 and above is considered excellent." So, 758 is an excellent score, especially for starters. No need to worry. As per the same source, the co-relation between CIBIL Score, creditworthiness and loan approval chances are tabulated below:-

CIBIL Score Range	Creditworthiness	Loan Approval Chances
750 - 900	Excellent	Very High – Quick approval and best interest rates
700 - 749	Good	High – Easy loan approval with favorable terms
650 - 699	Fair	Moderate – Possible approval, but higher interest rates
550 - 649	Poor	Low – Difficult to get a loan, stringent conditions
300 - 549	Very Poor	Very Low – High rejection risk

You can go to the CIBIL official website and learn more about CIBIL Scores, loans, credit mix, etc. One such link is here.

Hope this helps. 🙂

Thank you @Virtual King this helps a lot and do you have any recommendations for improving my credit score. I have no active borrows from slice and no credit cards. What can i do to improve my score?

 

[karneel]

No worries , now start taking credit cards as per your need minimum 2-3 and you will see your credit score will increase .

If you don't need slice anymore then close it .

Thank you, i will start my employment after 2 3 months, but i do have an FD of 50k. Can i apply for any credit cards? If yes please do recommend.. if not possible for FD of 50k, i will take after joining my employment.

 

[TechnoFinoTechnoFino is verified member.]

Thank you @Virtual King this helps a lot and do you have any recommendations for improving my credit score. I have no active borrows from slice and no credit cards. What can i do to improve my score?

check this thread for all credit score related Information:
The Ultimate Guide to Building and Maintaining a Top Credit Score
https://www.technofino.in/community...ing-and-maintaining-a-top-credit-score.34335/

 

[HumorSimpson]

Congrats on your graduation.

 

[praful47]

Thank you, i will start my employment after 2 3 months, but i do have an FD of 50k. Can i apply for any credit cards? If yes please do recommend.. if not possible for FD of 50k, i will take after joining my employment.

You can take credit card of any bank .
Axis , HDFC , icici , idfc , many more ..
Just check annual fee once and decide because that would be your first credit card.
Later on after 6 months or 1 year start applying for unsecured credit card .

I would like to brief T&C of some banks :
SBI : if you want sbi cashback then apply first because sbi rejects application giving reasons of overlevarage or too many credit cards and loan .

HDFC : first get core card like moneyback , freedom or millennia or regalia .. after that apply tata neu or Swiggy .
Because if you take co-braded first you will not get core card .
Core card is used for instant discounts on sale like Flipkart Amazon or departmental stores .

Axis : First apply co- branded credit card like Flipkart , ace or airtel because axis rejects application for new comers .
After that take neo or myzone LTF by calling customer care .

ICICI : Apply amazon pay icici credit card after your cibil shows any of the credit card of 1 year of age .
After few months you will receive coral as pre- approved.

Rest depends on your choice and needs .

Mark it as a solution if I could help you out

Thankyou.

 

[karneel]

You can take credit card of any bank .
Axis , HDFC , icici , idfc , many more ..
Just check annual fee once and decide because that would be your first credit card.
Later on after 6 months or 1 year start applying for unsecured credit card .

I would like to brief T&C of some banks :
SBI : if you want sbi cashback then apply first because sbi rejects application giving reasons of overlevarage or too many credit cards and loan .

HDFC : first get core card like moneyback , freedom or millennia or regalia .. after that apply tata neu or Swiggy .
Because if you take co-braded first you will not get core card .
Core card is used for instant discounts on sale like Flipkart Amazon or departmental stores .

Axis : First apply co- branded credit card like Flipkart , ace or airtel because axis rejects application for new comers .
After that take neo or myzone LTF by calling customer care .

ICICI : Apply amazon pay icici credit card after your cibil shows any of the credit card of 1 year of age .
After few months you will receive coral as pre- approved.

Rest depends on your choice and needs .

Mark it as a solution if I could help you out

Thankyou.

Thank you, it helped a lot!!!!!

 

[karneel]

check this thread for all credit score related Information:
The Ultimate Guide to Building and Maintaining a Top Credit Score
https://www.technofino.in/community...ing-and-maintaining-a-top-credit-score.34335/

Thank you for this, if i close my current slice account, which I do not need anymore and I also do not take any credit cards, will my credit score get affected?
thank you

 

[karneel]

You can take credit card of any bank .
Axis , HDFC , icici , idfc , many more ..
Just check annual fee once and decide because that would be your first credit card.
Later on after 6 months or 1 year start applying for unsecured credit card .

I would like to brief T&C of some banks :
SBI : if you want sbi cashback then apply first because sbi rejects application giving reasons of overlevarage or too many credit cards and loan .

HDFC : first get core card like moneyback , freedom or millennia or regalia .. after that apply tata neu or Swiggy .
Because if you take co-braded first you will not get core card .
Core card is used for instant discounts on sale like Flipkart Amazon or departmental stores .

Axis : First apply co- branded credit card like Flipkart , ace or airtel because axis rejects application for new comers .
After that take neo or myzone LTF by calling customer care .

ICICI : Apply amazon pay icici credit card after your cibil shows any of the credit card of 1 year of age .
After few months you will receive coral as pre- approved.

Rest depends on your choice and needs .

Mark it as a solution if I could help you out

Thankyou.

Thank you for this, if i close my current slice account, which I do not need anymore and if I do not take any credit cards, will my credit score be affected?

 

[komal]

No, nothing will happen