What’s the Minimum Credit Score for a Credit Card?

Worried your CIBIL score might stop you from getting a credit card? It’s a universal concern, and yes, your score matters. Your CIBIL score is one of the first things banks and financial institutions check when deciding whether to approve your credit card application.

But it’s not the only thing they consider.

Even if your score isn’t perfect, you can still qualify for the right credit card. Let’s explore what the minimum CIBIL score required for a credit card is, how to improve your chances, and why the MagniFi Fi-Federal Credit Card issued by Federal Bank via the Fi app could be your smartest next step.

CIBIL Score Ranges for Credit Cards

Your CIBIL score, issued by TransUnion CIBIL, is a 3-digit number ranging from 300 to 900. It reflects your creditworthiness based on how responsibly you’ve managed loans and credit cards in the past.

Here’s how the score range is generally viewed:

What is the Minimum CIBIL Score Required for a Credit Card?

Most banks and lenders prefer applicants with a CIBIL score of 700 or above. A score of 750 or above is considered excellent and increases your chances of approval for top-tier credit cards.

For mid-tier credit cards, a CIBIL score between 700 and 749 is usually sufficient. Entry-level cards may be approved with a score as low as 650, though approval also depends on factors such as your income, employment stability, and overall credit profile.

However, the minimum credit score for a credit card isn’t set in stone. Some money management platforms like Fi Money look beyond just your score. They consider your income stability, financial behavior, and repayment discipline.

So, even if your score is slightly below 700, you can still explore cards that reward responsible spending and offer tools to improve your credit profile. There’s also Magnifi Fi-Federal Credit Card, which rewards you 5% for all your offline and online spends on the weekends 

💡Later in this article, we’ll be sharing tips on how you can improve your credit score to boost your chances of getting a credit card.

Why CIBIL Score matters for Credit Card Approval

Your credit score is a reflection of your financial reputation. It helps the lender understand how likely you are to repay your dues on time.

Here’s how it impacts your application:

• Credit Card approval: A higher score increases your chances of being approved.
• Credit limit: A good score gives access to higher credit limits.
• Interest rates: A solid credit profile can earn you lower interest rates.
• Rewards & offers: Premium cards with better benefits are typically offered to those with good scores.

With the Magnifi Fi-Federal Credit Card your good credit habits are rewarded literally. You earn cashback on every spend, enjoy flexible rewards, and track your credit performance right from your Fi app.

CIBIL Score and Credit Card Eligibility: What Lenders Check

When you apply for a credit card, issuers evaluate more than just your score. Key factors include:

1. CIBIL Score & Report: Details of your credit information, past repayment history, and active loans.
2. Income level: A steady income improves chances of approval.
3. Existing loans or cards: Too many active loans or high utilisation can affect eligibility.
4. Employment type: Salaried professionals and self-employed individuals with stable income stand a better chance.
5. Credit history length: The longer and cleaner your credit history, the better your credibility.

If your credit profile shows stability and timely repayments, even with a modest score, your odds of getting approved are strong.

Can you Get a Credit Card with a Low CIBIL Score?

Yes, absolutely, though options may differ.

If your score is below 650, you can start small and build credit with products like:

1. Secured Credit Cards

These cards are backed by a fixed deposit, making them accessible even with a low score. They’re a great way to build credit through timely payments and responsible use.

2. Fintech Credit Cards

Modern money management apps like Fi Money that tie-up with licensed banks like Federal Bank consider more than just your credit score. With the Magnifi Fi-Federal Credit Card, your financial behavior, like your salary credits, spending patterns, and repayment consistency, is evaluated.

That means you don’t have to wait for a perfect score to access smart rewards and credit growth tools.

3. Add-on Cards

If a family member has a primary credit card, you can get an add-on card linked to their account. This helps you build a credit history gradually.

How to Improve your Credit Score for a Credit Card

Now, that we know how much CIBIL score is required for a credit card​​​​ application, let’s understand how you can make your score better if your CIBIL score eligibility for credit card isn’t ideal:

1. Make timely payments: Always pay your credit card and loan dues before the due date.
2. Limit credit usage: Keep your card utilisation below 30% of your total limit.
3. Check your credit report regularly: Monitor your credit information for errors or outdated records.
4. Avoid multiple applications: Too many applications lead to “hard inquiries,” lowering your score.
5. Diversify your credit: Maintain a balance of personal loans and credit cards.
6. Build a positive credit history: Use credit responsibly and make consistent timely payments.

Pro tip: Magnifi Fi-Federal Credit Card helps you track your spends, analyse repayment behavior, and even suggests how to improve your credit score, all within the app.

Why the MagniFi Fi-Federal Credit Card Stands Out

If you’re serious about improving your credit profile while enjoying unmatched rewards, the lifetime-free Magnifi Fi-Federal Credit Card is worth exploring.

Here’s what makes it different from traditional cards:

1. Cashback on every spend: Earn 5% cashback automatically on offline and online weekend purchases and 0.5% on weekday spends, no extra steps needed.
2. Smart credit insights: Fi app gives you visibility into your spending and credit behavior.
3. No hidden fees: Transparent terms with no joining or annual fees.
4. Credit growth-friendly: Helps users with average credit scores build a stronger financial profile over time.
5. Instant digital process: Apply, verify, and get started, all online.

Even if you’re rebuilding your credit, Magnifi Fi-Federal Credit Card is issued by Federal Bank to help you use credit smarter, earn rewards, and grow your CIBIL score responsibly.

Check your eligibility for MagniFi here.

How to Check Your CIBIL Score

Before applying, it’s a good idea to check your credit score. You can do this:

• Through the Fi app, which helps track your credit health. Open the Fi app -> Tap Explore All -> Credit Score
• Directly on the CIBIL website (you get one free report per year).
• Via other financial institutions that offer free score checks.

Knowing your score helps you understand where you stand and whether it’s the right time to apply for a credit card.

What if You Have No Credit History?

If you’ve never taken a loan or credit card before, your CIBIL report may show “NA” or “NH” (No History). Don’t worry, everyone starts somewhere.

Here’s how to begin building your credit:

• Apply for a secured credit card or starter card like Magnifi Fi-Federal Credit Card.
• Use it responsibly for regular expenses.
• Make all timely payments.

Within a few months, you’ll start developing a positive credit history, increasing your future approval chances.

Key Takeaways

• The minimum CIBIL score for a credit card is usually 700 or above.
• A good CIBIL score (750+) improves your chances of approval and rewards.
• With Magnifi Fi-Federal Credit Card, even those with moderate scores can qualify and grow their credit responsibly.
• Regular repayments, low utilisation, and consistent monitoring help improve your credit score over time.

Final Thoughts

Sure, your CIBIL score plays a big role in your credit journey, but it doesn’t define your future. Whether you’re just starting out or rebuilding, choosing the right credit card can make all the difference.

Everyone starts somewhere with their CIBIL score. What matters is how you build from here. Magnifi Fi-Federal Credit Card helps you spend responsibly, track your credit history, and enjoy rewards while you grow your score.

Check your eligibility and apply for MagniFi now →

FAQs on minimum CIBIL Score for Credit Card

1. How much CIBIL score is required for a credit card?

Most banks prefer a score above 700. However, Magnifi Fi-Federal Credit Card (issued by Federal Bank) considers your overall financial behavior, not just your score.

2. Can I get a credit card with a 650 CIBIL score?

Yes. You can apply for the Magnifi Fi-Federal Credit Card or secured cards against an FD. These are great for rebuilding or improving your score.

3. What is considered a good CIBIL score for credit cards?

A good CIBIL score is typically 750 or higher, signaling excellent repayment habits and a high likelihood of approval.

4. How can I improve my CIBIL score quickly?

Pay EMIs and card bills on time, reduce utilisation, and avoid too many credit applications. Tools within the Fi app can help monitor and improve your credit score faster.

5. Does Magnifi Fi-Federal Credit Card help in building credit?

Yes. Regular and responsible use of the Magnifi Fi-Federal Credit Card can help you establish a strong credit history and raise your CIBIL score over time.

6. Can I apply for a Magnifi Fi-Federal Credit Card if I have no credit score?

Absolutely. The Magnifi Fi-Federal Credit Card is designed to help first-time credit users start their journey responsibly while earning cashback on every spend.

7. Is checking my CIBIL score often bad for my score?

No. Checking your score yourself is a soft inquiry and does not affect your score. Only lender checks are considered “hard inquiries.”

8. Why should I apply for MagniFi instead of a traditional bank card?

Magnifi Fi-Federal Credit Card gives you rewards, Fi-Points (which can be redeemed for cash), airmiles, 20% discounts on top brands, insights, and zero hidden charges, plus the ability to track and improve your credit health, all in one app.

Apply for the Magnifi Fi-Federal Credit Card today and start your credit journey a more innovative way.