Whether you are looking for a home loan, gold loan, bike loan, or business loan, a good credit score can make all the difference.
In this article, we will discuss whether 700 is a good credit score and how it impacts the borrower.
Is 700 Considered To Be A Good Credit Score?
CIBIL score ranges from 300 to 900. Any score that falls between 690 to 719 is considered a good credit score.
So, a credit score of 700 is not only good but also creditworthy.
However, is this ideal or the best credit score?
What Is An Ideal CIBIL Score?
Credit score allows the lender to assess the risk the borrower poses. Most lenders prefer lending to individuals who maintain a credit score of 750 and above and this is more applicable to unsecured loans.
However, a credit score of 700 is eligible for a loan even though it comes with stricter loan terms. Individuals with a 700 credit score may not be able to negotiate for a higher amount or lower interest rates.
To borrow a higher amount or to get better loan terms in the future, borrowers must make an effort to increase their credit score to 750 or higher.
Banks consider applicants with a credit score of 750 and higher as ‘financially responsible’ and approve high-ticket loans for lower interest rates.
How To Improve Your 700 Credit Score?
Applicants with a credit score of 700 can easily secure credit but at higher interest rates. Furthermore, there is a higher chance of rejection when compared to applicants with higher scores.
Here is how you can improve your credit score and minimize your chances of being rejected.
Payment History
Your repayment history influences your credit score. Set up an autopay system so you don’t miss any of your EMIs.
Multiple Credit Applications
Too many credit applications can lower your credit score as lenders conduct a credit check. Put a considerable gap between each credit application to maintain your credit score.
Credit Utilization
Having a low credit utilization ratio positively impacts your credit score. Aim for 30% of the card’s limit and do not exceed the limit if you wish to increase your score.
Credit Mix
It's better for your credit score if you mix revolving credit like credit cards with installment loans, which have fixed payments for a predetermined period.
FAQs
If you are wrong, your answering back may help others realize that you are under a wrong impression and that would be a chance to get corrected. However, 'answering back' has to be done in a manner that is acceptable to the audience. If answering back sounds threatening to them, no good will come out of it.
Is it good to have an answer for everything? ›
I think better than having an “answer” one should have plenty of “questions” for everything. It's through questioning that we can arrive at truth and even if we don't find the truth, we will learn a lot along the way. Through questioning we can arrive at informed and educated answers.
Is it okay to not know the answer? ›
If you don't know, you don't know. You never said you are the human form of Wikipedia anyway! You are brave and kind enough to hear your inner voice and do whatever it takes to give you some peace and joy.
Is it okay to not have all the answers? ›
We need to realise it's ok not to have all the answers. We are human, it's impossible to know everything. We are imperfect creatures in an imperfect world, we can only understand so much.
What's a good reply to a guy? ›
How to Respond to a Sweet Text from a Guy
- 1 “Someone just asked me why I'm smiling at my phone.”
- 2 “I like you even more than I did a few seconds ago.”
- 3 “If I had to pick between you and chocolate, I'd pick you.”
- 4 “That's the best text I've ever gotten.”
- 5 “I could stay up all night texting you.”
- 6 “Aw, thanks!
Time-sensitive messages should be answered as soon as possible, while you have more time for nonurgent ones. But not that long. Gottsman, speaking "from a polite factor" believes you should respond within a day. "That sounds like a very long time for some people but we all have busy lives."
Is questioning everything good or bad? ›
How do you decide what to believe? You might think that you should only believe something if you know why it is true. Socrates thought that we should question absolutely everything and not rest until we know our beliefs lie on a secure foundation.
What is the right answer syndrome? ›
The right answer syndrome is a way of thinking in which people want to be right and don't like to be wrong or have healthy disagreements. It comes from a deep-seated need to be accepted, which is often shaped by society and culture. It's something we learn to do as we grow up.
Is it rude to answer someone with whatever? ›
Yes, it is rude. Its not showing respect. If used in a context during a conversation that is getting slightly heated people might say “ whatever” because they do not know how to express themselves, and because they are staying “safe “with a word like “ whatever”.
Is it rude to not answer a question? ›
In most situations, you should not have to give information you are uncomfortable giving. The most direct way to do this is to simply say that you will not answer the question. However, even though you are saying "no," you can still do it politely.
Question dodging
This may occur when the person questioned either does not know the answer and wants to avoid embarrassment, or when the person is being interrogated or questioned in debate, and wants to avoid giving a direct response.
Is it better to not know everything? ›
Knowledge is not finite. It's not an end goal. It's a process, made of learning and curiosity and not knowing; and the more we recognize what we don't know, the more completely we can engage in the process that makes up knowledge.
Is questioning more important than answering? ›
Questions are important because they help us create a framework for understanding and discovery, whereas answers are (at most) temporary fixes to our problems. Both questions and answers must be updated over time as things change.
What to say when you have no answers? ›
"I'm not familiar with that but will research it and get back to you by Thursday." "Tell me more. I'm not sure I understand the question." "Give me a moment while I look at my notes and think through your question." (My personal favorite)
Are questions or answers more important? ›
Asking questions is important because it helps in a better understanding of the topic being discussed. It allows for a deeper exploration of the subject and encourages critical thinking.
Why do people say respond back? ›
It's possible that some people think they have to write “respond back” to distinguish a reply from other kinds of responses, like groaning and cursing, or chucking a request in the wastebasket; but most of the time the context makes perfectly clear that “respond” means “answer” and the “back” is redundant.
What does answering back mean? ›
answered back; answering back; answers back. somewhat informal. : to reply to someone especially in a rude way. impolite children who answer back when their teacher corrects them.
What does answered back mean? ›
to speak rudely to someone in authority, especially when they are criticizing you or telling you to do something Don't answer back!
