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You may have already taken credit or will need to, at some time – in the form of education, auto or home loans or credit cards. Do you know, however, how lenders evaluate your loan or card applications? Or if your application will get approved?
Or do you simply need some help to manage your Credit Card account safely?
THE INSTANT CREDIT CARD IS AN EXCELLENT CHOICE TO HELP YOU BEGIN BUILDING A GOOD CREDIT SCORE:
Entry into the Credit Builder program is complimentary with the Instant Credit Card.
We report your good credit behaviour to credit rating agencies to generate your credit score.
We also give you access to vast store of information on how to build good score.
We take your financial journey seriously. By reporting your responsible credit behaviour to credit agencies, we help you generate a credit history that reflects your reliability and trustworthiness. This positive history is essential for future financial endeavours, such as Loans or Mortgages and is a crucial step towards achieving a robust credit score.
Our program goes the extra mile by offering personalised insights and strategies for building a strong credit score. We understand that navigating the credit landscape can be complex, so we provide you with the knowledge & tools to make informed decisions and achieve your goals when it comes to credit scores.
To start building credit score, you will need to:
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- Spend regularly on your card
- Our tip: score generation doesn't begin till you do this.
- Stay within your credit limit
- Our tip: this indicates that you are not 'credit-hungry' and is a good credit practice.
- Always make your monthly payments to us and to other lenders on time
- Our tip: Behaving well on Instant Card is important but don't allow late payments or defaults on other loans or cards to spoil your score – after all, other lenders may report this behavior as well.
You must continue to manage your purchase and payment to avoid lowering your credit score.
Click here to apply for your Instant Credit Card and join our Credit Builder Program.
FAQs
Getting a Credit Card with a low CIBIL score is tricky but possible. You can start by applying for secured Credit Cards, using a co-applicant or exploring credit builder programmes like the ones with ICICI Bank to improve your score gradually.
While ICICI Bank doesn't specify a minimum CIBIL score, a higher score significantly enhances your chances of approval. Customers can get their credit scores from ICICI Bank based on different parameters considered by the Bank. Options like the ICICI Bank Credit Builder Program may be accessible for individuals with lower scores.
Obtaining another Credit Card with bad credit is tougher, as lenders prioritise creditworthiness. Consider secured cards or seek assistance from credit-building programmes to improve your credit before applying for another Card.
Yes, Credit Card rejections can negatively impact your CIBIL score. Multiple rejections within a short timeframe suggest financial instability, which may lead to a lower credit score. It's crucial to apply judiciously to avoid unnecessary rejections.
