Minimum CIBIL Score Required for RBL Credit Card

Last Updated : Jan. 27, 2025, 1:02 p.m.

RBL credit card offers multiple credit cards in the range of entry level to mid range categories. They cater to the various needs of customers and preferences. The benefits of RBL credit cards vary across different lifestyle categories, such as movies, shopping, dining, travel, and more. They offer various perks like rewards, cashback, and discounts on select categories. They also offer co-branded benefits with leading brands like BookMyShow, Myntra, Zomato, Uber, MakeMyTrip, etc. All RBL Credit cards require you to meet a certain eligibility criteria for their approval. The CIBIL score is one of them. A CIBIL score of 750 and above is considered excellent, and it opens the doors to quick RBL credit card approval, high credit limit, and favorable terms. Let us now read on to find out how to maintain a good CIBIL score.

Tips to Build and Maintain a Good CIBIL Score

A CIBIL score is a 3 digit number in the range of 300 to 900. It summarizes your creditworthiness. It is provided by the credit bureau TransUnion CIBIL. It is highly crucial in the approval of loans and credit cards. Here are a few guidelines to build and maintain a good CIBIL score.

Make Timely Payments

Make timely payments of your loan EMIs and credit card bills. Defaults in payments can hurt your CIBIL score, since payment history makes up to 35% of your CIBIL score.

Diversify Your Portfolio

Have various types of credit in your portfolio. A credit mix can include installment loans, revolving credit like credit cards, and mortgages. Also, the ratio between secured and unsecured loans must be balanced. A credit report on which the number of unsecured loans is more has a lower CIBIL score. Credit mix accounts for up to 10% of your CIBIL score.

Keep a Low Credit Utilization Ratio

CUR or credit utilization ratio is calculated as the ratio of credit used by the total available credit. Higher the CUR, lower the credit score. The CUR accounts for up to 30% of the credit score. Experts recommend a CUR within 30% to 40%. Not only does high CUR impact your credit score but also gives the impression to lenders that you are overspending.

Do Not Apply for Multiple Credit in a Short Duration

Apply for credit only when required. Before you apply for credit, evaluate your need for it. Do you think that you need additional credit? Apply only when there is an urgent need for it. Every time you apply for credit, a hard inquiry is triggered on your credit report. Multiple hard inquiries will bring down your CIBIL score. It is generally recommended to leave a gap of at least six months between applications. Also, multiple credit applications will suggest to the lender that you are credit hungry.

Do Not Close Old Accounts

There may be old accounts in your credit report which show a great credit history and long association with lenders. Such accounts should be retained on your credit report. Deleting them will lead to loss of credit length and good credit history. This will hurt your credit score. The length of credit accounts for up to 15 to 20% of your credit score.

Free CIBIL Score Check

Other Eligibility Criteria for RBL Credit Cards

The other eligibility criteria for RBL credit cards is as follows:

• Age: You must be at least 18 years old to apply for a credit card. For some banks, it may be 21 years. The upper age limit is in the range of 60 - 65 years.
  
• Income: The minimum income must be between INR 1 lakh to INR 3 lakhs annually. This can vary based on the card type. Premium cards come with stringent income requirements.
  
• Employment Status: A stable source of income is important for credit card eligibility. Banks generally approve credit card applications of individuals who exhibit stable job histories. Being in your current job for more than a year can improve your probability of getting approved.
  
• Credit Utilization Ratio: Banks approve your credit card application based on your credit utilization ratio. A lower credit utilization ratio (The ratio of credit used by the total available credit limit) indicates high financial responsibility.
  
• Existing Loans or Applications: Applying for too many loans or credit cards indicate that you are over-dependent on credit and are credit hungry. This may lead to rejection of your application.

How to Know Your CIBIL Score?

There are many individuals who don’t know how to check their Cibil Score. So, you can make use of Wishfin Cibil Score Calculator to know the exact score. It will give you all the details related to your credit history. You just have to follow the steps given below to know your score.

• Visit the official website of Wishfin
• Open the ‘CIBIL Score’ page
• Give your first name, middle name, and last name
• Enter your date of birth and select gender
• Provide your PAN card number
• Give the net monthly income you earn
• Give your Employment status
• Enter Employer’s name if in case you are salaried
• Type 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

After checking the Cibil Score you will know about the following details that can be helpful to apply for a credit card .

• 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 RBL Credit Cards. In some situations, you can get an RBL Card with a score of below 750 but you will not get a high credit limit. So, if you want to make the optimum use of your RBL bank credit card then you must maintain a Cibil Score of at least 750. If your score is near 900 then it is the best score.