Whenever an individual applies for a credit card then the Cibil Score is a matter of concern for them. Usually, a Cibil Score tells the credit history of an individual that how he has managed his loans and debts. On the other hand, HSBC Credit Cards has a lot of offers and discounts on various brands and therefore many individuals prefer it. But in order to apply for an HSBC Credit card, you need to know about the Cibil Score. The minimum Cibil Score required for HSBC Credit Card is 750 and above. So, you will have to maintain such a score in order to get quick approval from the bank. Let’s see all the details related to the Cibil Score of HSBC Credit Cards.
Credit Score Needed for HSBC Credit Cards
The Cibil score is calculated by the Credit Information Bureau of India on the basis of past records of debts and their payment. The Cibil score starts from 300 to 900. If your score is between 300 to 450 then it is considered a bad Cibil Score. In order to get quick approval from the bank, you need to maintain a Cibil Score of 750 and above.
The HSBC banks can issue a credit card at a score of below 750 but they might reduce your credit limits and increase the rate of interest on the credit card. On the other hand, the eligibility criteria for taking an HSBC Credit Card also become strict and you will have to do extra paperwork. So a suitable Cibil score for easy approval is 750 and above.
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.
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.