5 Key Advantages of Maintaining a High Credit Score

When it comes to credit score, the mantra is ‘the more the merrier’. A high credit score has various benefits. Check out 5 of them.

Easier approvals

When you apply for a loan or a credit card, your credit score is checked. A high score ensures quicker approvals and faster sanctions.

Lower interest rates

A high credit score reduces the possibility of default. As such, lenders offer lower interest rates to borrowers with a high score.

Enhanced credit limit

You can get a higher loan amount or credit limit on your credit card if you have a high credit score.

Bargaining power

With a good score, you can negotiate the loan terms. For instance, you can bargain for a higher repayment tenure or lower interest rate.

Low insurance premiums

Some insurance companies might offer reduced premiums for policyholders with a high credit score.

Maintain a high score and unlock these benefits. Choose IDFC FIRST Bank Credit Cards with attractive interest rates and financial benefits to build a strong credit journey.