Is A Credit Score of 670 Good or Bad?

A credit score of 670 in India is considered fair but falls on the lower side of the credit scoring spectrum. Credit scores in India usually range from 300 to 900, with higher scores indicating better creditworthiness.

While a score of 670 is not necessarily ""bad,"" it may limit your access to certain financial products and result in higher interest rates on loans and credit cards.

Here's a breakdown of how credit scores are generally categorized in India:

• 750 and above: Excellent - You are likely to have easy access to credit solutions at favourable terms.
• 700 to 749: Good - You have decent creditworthiness and can qualify for most loans and credit cards.
• 650 to 699: Fair - Your credit options may be limited, and you may have to pay slightly higher interest rates.
• Below 650: Poor - You may struggle to get approved for credit, and if approved, you may face significant challenges and higher interest rates.

To improve your credit profile, it is advisable to boost your credit score. This can be achieved by making timely payments on your existing debts, reducing credit card balances, and avoiding multiple credit inquiries.

Regularly checking your credit report and correcting any inaccuracies can also help you maintain a healthy credit score in the long run.