750+ Credit Score 5 Benefits: If you are ever applying for credit card, personal loan or home loan, then your credit score can prove to be the biggest game changer. Know why the score of 750 or more is considered excellent and its 5 benefits …
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Easy loan approval and fast process
A good credit score reduces risk for bank and NBFC. This means that your loan approval is early and the documentation is also smooth. If there is no default in your credit score and the payment history is clear, the bank immediately processes your application.
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Low interest rates and high credit limit
Banks and NBFCs often offer better interest rates to customers with 750+ credit scores. Whether it is a personal loan, home loan or credit card, you can get funds at low interest. Apart from this, your loan amount or credit limit can also be high as the bank trusts you.
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Fast approval and better negotiation power
High score customers take less time in loan approval. Especially in emergency, when money is needed immediately, your application may pass immediately. In addition, if you have a good credit profile, you can do better negotiations with the bank on interest rate, total loan amount and repair terms.
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Access of premium financial products
Some banks and NBFC offer special credit cards, personal loans and home loans only to customers with high scores. This means that your good score helps you take advantage of premium products. Timely EMI and Bill, the easiest way to improve credit health.
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