Do you think 702 is decent credit score?
A credit score of 702 is a good place to be. It falls in the ‘good’ range and shows that you are handling credit in the right way.
It may not put you in the top bracket of 750+, but it is strong enough for approvals and better offers than below 700.
When my score was around 702, I got my credit cards without too much hassle. The only catch was that I did not get a high credit limit or premium credit card offers.
If you have this credit score, you may expect the following things while applying for new credit cards and loans:
- Loan Approvals: Most likely, though bigger loans may face extra checks.
- Interest Rates: Fair, but not as low as someone with 800+.
- Credit Cards: Good chance of getting standard and semi-premium cards.
To increase your score from 702 to 750+, here are some simple tips you can follow:
- Always clear card dues and EMIs before the due date.
- Do not use a loan or card until you can pay it back on time.
- Try to keep your credit usage low, preferably below 30% of your total limit.
- Avoid multiple loan or credit card applications at the same time.
- Try to keep your older loan accounts to build a stronger borrowing history.
You should also check your credit history regularly using a free online credit score checker. In case there are any mistakes, report them immediately to the credit bureau.