5 Key Advantages of Maintaining a High Credit Score
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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.
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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.
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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.
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Enhanced credit limit
You can get a higher loan amount or credit limit on your credit card if you have a high credit score.
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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.
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Low insurance premiums
Some insurance companies might offer reduced premiums for policyholders with a high credit score.
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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.