A credit score from 300 to 900 is only a summary. Lenders read the report behind it, and a 790 score can still be declined.
What lenders actually look for
- Any overdue amount, however small
- Late payments in the last 12 months
- Written-off, settled or restructured accounts
- Several enquiries with no new loan
- Many small loans taken recently
Published score floors
- ICICI Bank: 700+ on LAP and home loans, with 750+ ideal
- ABFL: 675+ on LAP; 650+ on business loans, with 685+ preferred
- HDFC Bank: 8.50% home loan rate shown for 800+
What to tell customers
- Checking your own score does not lower it
- Bring card use below 30% of limits, the fastest lever
- Clear small overdues before applying
- One well-prepared application beats five rushed ones
Everyone can get one free full report a year from each bureau. Review it, with consent, before referring. For a joint loan, check every applicant.
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