What Does a 750 Credit Score Mean?

Having a good credit score is an essential part of obtaining credit tools of your choice on favourable terms in the UAE. People with high credit scores can easily get a high loan amount sanctioned, get low interest rates, and even preferential treatment from banks. 

This piece will help you discover what a 750 credit score means for you as a banking customer, whether a 750 credit score is good or bad, and how can it impact your chances of obtaining a credit-based product in the UAE. 

Is 750 a good credit score?

As per the categorisation done by the AECB, the authority in charge of calculating credit scores in the UAE, a 750 credit score is considered a very high credit score in the UAE. The ‘very high’ category of credit score begins from 746 and goes all the way up to 900, i.e., the maximum possible score. 

If you have a credit score ranging between 746 and 900, you can be assured that you have an excellent credit score as per UAE standards. 750 credit scores receive a five-star rating from AECB. It shows that you are a highly creditworthy borrower who has never missed even a single bill payment so far. Candidates with excellent credit scores can easily get any financial product that they desire and on great terms too. 

How to get a 750 credit score?

Pay All Bills on Time:

Paying every single bill on time is essential to increasing your credit score. However, keep in mind that this includes credit card bills as well as your monthly utility bills like electricity bills or water bills. All these payments or defaulted payments go into the calculation of your credit score. 

Select Credit Cards Carefully:

After choosing your credit card carefully, you should make sure to stick with it for a long. Frequently opening and closing credit card accounts can make your credit score take a hit. Holding onto a single account for long and maintaining it properly, on the other hand, can help you get a 750 credit score easily. 

Utilise Credit Limit Responsibly:

Contrary to popular opinion, credit limits are not meant to be maxed out every month. Using only 15% to 30% of your credit limit is considered healthy. So even if your card allows you to spend a high amount of, say, up to AED 50,000 each month, refrain from utilising the maximum amount. 

Be Consistent:

Ultimately, while following the above-discussed tips, one should stay patient and be consistent with these practices to observe a noticeable difference in their credit score. 

What a 750 credit score can get you?

Credit Cards for 750 Credit Score:

Being one of the excellent credit scores, you can get any credit card that you wish to get and qualify for. Credit cards have several eligibility criteria like minimum salary requirements. You can get any card - secured, unsecured as well as special benefits card - as long as you clear these requirements. 

Personal Loan for 750 Credit Score:

Getting a personal loan sanctioned is possible even with medium or low credit scores. However, having a 750 credit score gives you the upper hand in several ways. 

Interest rates for personal loans are negotiable. With such a high credit score, however, you will not only get low interest rates approved from the bank easily but can also negotiate them down further if you like. 

750 Credit Score Mortgage:

As the longest available loans in the UAE, it is often challenging to get them approved with a low credit score. Since mortgage loans are a rather big responsibility, creditors prefer borrowers with high repayment capabilities and high creditworthiness. 

For this reason, you will find an abundance of 750 credit score mortgage options in the UAE. You can, thus, easily get any home loan plan you desire (and qualify for) with a 750 credit score. 

Auto Loans for 750 Credit Score:

Getting a car is possible even with very low credit scores. However, you can hope to score excellent car loan interest rates with your 750 credit score. Low credit scores attract very high car loan interest rates, while high scores attract low interest rates. 

Insurance Plans with 750 Credit Score:

Credit score does not impact insurance plans as much as it does loan options. However, having a 750 credit score will ultimately help you get lower premiums as it shows you as a creditworthy customer who knows how to handle credit. 

How to Check Your Credit Score in UAE for Free

Credit scores, analysed and provided by the AECB, can be checked from the AECB website or mobile app with a small fee applicable. However, you can check your credit score for free with Policybazaar UAE. We offer you a free credit score check when you start your credit card approval or personal loan disbursal journey. 

Conclusion

750 credit score is an excellent credit score to have in the UAE. If you have a low credit score, reaching a 750 credit score may take some time. However, you can easily do so by paying bills on time and utilising your credit limit properly. By being consistent with your timely payments and using your credit cards wisely, you can soon enhance your credit score. 

If you have any queries related to credit scores, you will find experts at Policybazaar.ae just a click or tap away to help you navigate the process of credit score improvement properly. 

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