Minimum CIBIL Score Required for Kotak Credit Card

Last Updated : Jan. 16, 2025, 5:05 p.m.

A CIBIL score is a 3 digit number that lies between 300 and 900. It is a summary of your credit history and reflects your creditworthiness. A good CIBIL score is important. It can help you get credit cards with better rewards and terms and loans with favorable terms and interest rates. Let us now see what the minimum CIBIL score required for a Kotak credit card is.

Minimum Credit Score Needed for Kotak Bank Credit Cards

The minimum CIBIL score needed for a Kotak Credit Card is 750. A CIBIL score below 750 results in the credit card application getting rejected. Check your CIBIL score before applying for a credit card from Kotak Mahindra Bank.

If your CIBIL score is not up to the mark, take steps to improve it before applying for a Kotak credit card .

Steps to Check Your CIBIL Score Online

On the Official CIBIL website

Step 1: Visit the official portal of CIBIL

Step 2: Click on the button titled ‘Get Your CIBIL Score’

Step 3: You can now see subscription options. Choose one option as per your choice.

Step 4: Upon selecting the option, you will be taken to an online form. Enter the basic details here - Your name, address, ID proof, birth date, etc.

Step 5: After filling up the form, you will be taken to the payment page. Make the payment in various ways like credit cards, net banking, etc.

Step 6: Once the payment is made, you will be taken to the authentication page. Here, you will be required to answer a few questions regarding your credit history. This will help you to validate your identity with CIBIL.

Step 7: After your authentication process is complete, you will get your CIBIL report on your registered email address within the next 24 hours.

On the Official website of Wishfin

Step 1: Go to the official website of Wishfin

Step 2: Open the ‘CIBIL Score’ page

Step 3: Enter your first name, middle name, and last name

Step 4: Enter your date of birth and select the gender.

Step 5: Give your PAN card number

Step 6: Enter the net monthly income you earn

Step 7: Enter your employment status

Step 8: Enter the employer’s name if you are salaried

Step 9: Provide contact details such as the mobile number and email address

Step 10: Accept the ‘Terms and Conditions’

Step 11: Finally, click ‘submit’

Free CIBIL Score Check

How to Maintain a Good CIBIL Score?

Here are a few tips to keep in mind to enhance your CIBIL score

• The most important step to take for maintaining a healthy CIBIL score is to avoid late payments. Payment history makes up to 35% of your CIBIL score. So, ensure to pay your loan EMIs and credit card bills on time. Payment defaults will impact your CIBIL score negatively. To avoid delays, you can set up auto pay and payment reminder alerts.
  
• Review your CIBIL report regularly: It is important to monitor your CIBIL report regularly. You can identify errors that bring down your CIBIL score. You can then raise a dispute with the credit bureau to get your errors rectified.
  
• Limit your credit utilization: Credit utilization ratio is defined as the percentage of credit utilized from the total credit limit available. To ensure that a good CIBIL score is maintained, you must keep your CUR within 30% to 40%. A high CUR will create a negative impact on your CIBIL score. Also, lenders will get the impression that you are overspending.
  
• Credit mix: Another way to increase the CIBIL score is to have a diverse portfolio. So, take out various types of credit like instalment loans, revolving credit, mortgages etc. Having a credit mix will give the impression to lenders that you are capable of handling a variety of credit simultaneously. Also, have a balance between secured and unsecured credit.
  
• Limit the applications for credit cards: Do not apply for too many credit cards. Applying for multiple credit will increase the number of hard inquiries on your report. Not just this, lenders will get the impression that you are in desperate need of credit and so, apply for credit only when required.
  
• Do not exhaust the credit limit completely as it can drastically lower the CIBIL score.
  
• No credit history: If you do not have any credit history, then you will find it difficult to get a Kotak credit card. In that case, you can avail a secured credit card and then build a good CIBIL score.

Details You Will Get After Checking Your Credit Score

After knowing your exact Cibil Score, you can easily apply for a credit card . But you must know the details that you will get once you have checked 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

Well, 750 and above is the minimum Cibil Score required for Kotak Credit Cards. So, in order to get quick approval from the bank, you need to maintain a credit score of at least 750. There are chances for getting a Kotak Bank credit card at a Cibil Score of below 750 but the approval might be strict and the credit limit will be low.