Maintaining a clean credit profile and a good credit score or CIBIL score is extremely important to get a personal loan or credit card. A credit score is a 3-digit number that reflects your creditworthiness, repayment proficiency, and past credit history. In India, it usually ranges between 300 and 900. A score of 750 or above is considered very good and increases your chances of loan approval and getting a credit card. But what if your score is less than 670? Don’t panic.

Is a CIBIL score of 670 a red flag

A credit score of 670 is definitely not considered as the healthy credit score in India for Loan Schemes. Such a score can lead to problems while applying for a new credit card or personal loan. However, there are certain strategies that can increase your chances of approval despite a low credit score. So, even if your score is a little low, don’t lose hope. 5 sure-fire ways to get a credit card even with a low CIBIL score.

Choose a secured credit car

For those who have a poor credit score or no credit history or are unable to get a regular credit card for some reason, a secured credit card can be the great option. A secured credit card is obtained against a collateral deposit. This card is also given against the fixed deposit (FD) in your account. Most secured cards have a limit of up to 80-90 percent of the FD. This is a great way to rebuild your credit profile.

Consider an add-on credit card

If a member of your family has a primary credit card, you can request an add-on card. This will provide you the best benefit of their credit history problems, which will help you to build your credit profile and the healthy credit score. This is an easy way for those who do not have a credit history of their own.

Apply with smaller banks or NBFCs

Many smaller banks and non-banking financial companies (NBFCs) have more flexible credit rules and may offer credit cards even to applicants with lower credit scores.

Provide evidence of your honesty and financial stability

If you can provide evidence of stable income with salary slips, income tax return documents, etc., such documents can increase your credibility and your chances of getting your application approved. Lenders look for honest people, have a reasonable source of income, and are sincerely willing to pay EMIs and credit card bills on time.

Improve your credit score

If you don’t get a credit card right away, don’t be disheartened! Focus on improving your credit score! For this:

Pay bills and EMIs on time.

Keep the Credit Utilization Ratio (CUR) low.

Maintain a long credit history.

Take care of your credit mix.

Avoid frequent credit report inquiries.

Check your credit report regularly.