748 Credit Score: Good or Bad?

A credit score of 748 is categorised from fair to excellent from several bureaus, yet reflects consistent financial discipline and responsible credit usage. Borrowers with a 748 credit score are considered low-risk, making them eligible for competitive interest rates, higher credit limits, and premium credit products. While this score already opens doors to significant financial opportunities, improving it further can help you access even better terms and benefits.

A 748 credit score is generally classified as very good across all major credit bureaus in India:

A 748 CIBIL score provides numerous financial advantages, including:

1. Streamlined Loan Approvals

Lenders are more likely to approve your loan applications quickly due to your strong credit profile

2. Competitive Interest Rates

With a 748 CIBIL score, you qualify for attractive interest rates, reducing your borrowing costs

3. Access to Premium Credit Cards

A CIBIL score 748 makes you eligible for credit cards with cashback, rewards, travel benefits, and other exclusive features

4. Higher Credit Limits

Lenders are more inclined to approve higher credit limits, providing increased financial flexibility for large expenses

5. Better Insurance Premiums

Certain insurers factor credit scores into premium calculations, and a 748 score may result in lower rates

6. Emergency Credit Availability

A CIBIL score 748 means faster access to personal loans or lines of credit during financial emergencies

7. Leverage for Negotiation

You can negotiate better loan terms, such as reduced fees, extended tenures, or customised repayment schedules, with a strong credit score like 748

A 748 CIBIL score is impressive, but maintaining or improving it requires continued diligence. Here’s how:

1. Pay Bills on Time

Ensure that all EMIs, credit card dues, and other payments are made on or before the due date. Timely payments are critical for maintaining your score.

2. Keep Credit Utilisation Below 30%

Utilise less than 30% of your total credit limit. For instance, if your limit is ₹1 Lakh, limit spending to ₹30,000 or less.

3. Monitor Your Credit Report

Check your credit report regularly for errors or inaccuracies. Rectify any discrepancies promptly to protect your credit score.

4. Avoid Frequent Credit Applications

Refrain from applying for multiple credit cards or loans within a short period, as hard inquiries can temporarily lower your score

5. Maintain a Balanced Credit Portfolio

A mix of secured loans (e.g., home loans) and unsecured loans (e.g., personal loans) demonstrates responsible credit behaviour

6. Pay Down Outstanding Debt

Systematically reducing your debts lowers your debt-to-income ratio and enhances your creditworthiness

7. Retain Older Credit Accounts

Keep long-standing credit accounts active, as they add to your credit age and positively impact your score

A 748 credit score reflects very good credit health and ensures access to favourable financial opportunities. By continuing to pay bills on time, maintaining low credit utilisation, and monitoring your credit report, you can sustain or even improve your score. 

 

Progressing closer to the very good range can unlock even more benefits, including ultra-premium credit products and the best loan terms, providing long-term financial flexibility and stability.