My credit score is 784, is it fine? Will I be able to get home loan in future? I am planning to apply for one in coming months.
A credit score of 784 is definitely good. In fact, it makes you a low-risk borrower in the eyes of lenders.
With this score, your loan applications are likely to be approved without much trouble. You also stand a strong chance of accessing larger loan amounts with favourable interest rates.
This score shows that you have:
- A long credit history
- Timely repayments
- A healthy balance of credit
It also reflects that you manage your debts well and have avoided defaults or delays. Because of this, lenders often extend pre-approved credit offers to individuals like you.
If you want to improve your credit score further, you can continue building your profile by managing loans carefully. Start small, keep your debt within 30% of your income, and increase your limits slowly over time.
This steady approach ensures your creditworthiness remains strong.