Minimum CIBIL Score Required for HSBC Credit Card

Last Updated : Jan. 15, 2025, 3:23 p.m.

A CIBIL score is a 3 digit number between 300 to 900 generated by the credit bureau TransUnion CIBIL. It reflects your creditworthiness. Financial institutions check your CIBIL score before approving your loan and credit card applications. If you have a good credit score, then your application will be approved swiftly without any hassles. All lenders will be ready to lend. You will have a pool of lenders, and you can choose from one of them. You can then negotiate with the lender for preferential interest rates and best loan terms. Let us now see what the minimum CIBIL score required for HSBC Credit Cards.

CIBIL Score Ranges and their Ratings

The CIBIL score is computed by the Credit Information Bureau of India Limited based on various factors like payment history, credit utilization ratio, credit mix, length of credit history, etc. The repayment history is thus very important to compute your credit score. A CIBIL score of 750 plus is considered excellent in India. The table below shows various ranges of CIBIL scores and their credit ratings.

Free CIBIL Score Check

Credit Score Needed for HSBC Credit Cards

To get an HSBC Bank credit card easily, you should have a CIBIL score of 750 and above. HSBC Bank issues credit cards for scores below 750 also. But your credit limits may be lower and the rate of interest may be higher. The eligibility criteria for taking an HSBC Credit Card will also be very strict in case of a low score and you will have to do extra paperwork. So, try to build and maintain a CIBIL score of 750 and above.

How Can I Get a Good CIBIL Score Of 750+ In India?

1. Pay your bills on time: Regular and on time bill payments have the highest weightage when it comes to computing your CIBIL score. So, always pay your credit card bills and loan EMIs on time. Set up auto payments and payment alerts to enable EMI and bill payments on time.
   
2. Keep your credit utilization low: Keep your credit utilization ratio low. The credit utilization ratio is defined as the percentage of the total available credit that you are using currently. It is ideal to have a CUR within 30% to 40%. A high CUR has a negative impact on your CIBIL score. Also, lenders will get the impression that you are overspending and cannot manage your finances responsibly.
   
3. Do not close old credit cards: Credit bureaus give less weightage to accounts which are closed. Also, when old credit cards are closed, the financial institution stops sending updates to credit bureaus. This reduces your credit score. Also, your CUR becomes higher since your credit limit becomes lower (Assuming, you spend the same). Keep in mind that after 10 years, the closed credit card account will be deleted from your credit report, and this could bring down your score when you really do not want that to happen.
   
4. Limit new credit applications: Do not apply for credit impulsively. Evaluate your financial position and think about whether you really need additional credit. Then, apply only if really needed. Each time you apply for new credit, a hard inquiry may be triggered. Multiple hard inquiries could bring down your CIBIL score. Also, lenders will think you are desperate for credit or credit hungry.
   
5. Monitor Your Credit Report Regularly: Review your CIBIL report regularly. RBI has made it mandatory for all the 4 credit bureaus to give one free credit report each year to customers. But, it is highly recommended that you look at your credit report at least twice a year. Monitoring your report can help you identify errors which are bringing down your credit score. You can then dispute them with the credit bureau and rectify them.
   
6. Have a diverse portfolio: It is always important to have a mix of credit like instalment loans, revolving credit, and mortgages. This indicates that you are capable of handling various types of credit at the same time. Also, it is essential to have a balance between secured and unsecured loans.

Calculate Your CIBIL Score

You can make use of the Wishfin Cibil Score Calculator in order to know your exact Cibil Score. There are many individuals who are unaware of the exact Cibil Score. So, you will just have to follow the steps given below to know the current Cibil Score.

• Open the official website of Wishfin
• Then visit the ‘CIBIL Score’ page
• Give your first name, middle name, and last name
• Type your date of birth and select gender
• Enter your PAN card number
• Provide the net monthly income you earn
• Give your Employment status
• Type Employer’s name if in case you are salaried
• Enter Contact details such as the mobile number and email address
• Accept the ‘Terms & Conditions’
• Finally, click on the ‘Submit’ button

Details You Will Get After Checking Your Credit Score

You can easily apply for a credit card after knowing the exact Cibil Score. You will get the following details in front of you after checking your Cibil Score.

• A Summary of your Credit History.
• The name of the Applicant
• Social Security Number of the Individual
• Your existing credit cards.
• Your Running Loans
• The amount of money yet to be paid to the bank.
• Your Repayment history whether you are paying your bills on time or not.

Conclusion

750 is the minimum Cibil Score required for HSBC Credit Card. If your score is between 650 to 750 then there are some chances of getting a credit card but you will not get a high credit limit. The bank will also ask for some extra paperwork. Therefore, a suitable Cibil Score for fast approval of the HSBC Credit Card is 750 and above.