Is 790 Credit Score Good or Bad?

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Having a good credit score is essential for acquiring any kind of credit tool in the UAE. A good credit score can help you attain the credit instrument and services of your choice with minimal adjustments. A low credit score, on the other hand, may require you to adjust your credit requirement substantially. 

This article discusses how good is a 790 credit score and the types of credit services and tools can you get with it in the UAE. 

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How Good is a 790 Credit Score?

To understand the finer aspects of a credit score of 790, let’s have a look at the categorisation of the credit score generally followed in the UAE:

Credit Score (Range)

Category

Star Equivalent

300-540

Very low

1

541-650

Low

2

651-710

Medium

3

711-745

High

4

746-900

Very High

5

A 790 credit score falls in the very high category as per the guidelines of AECB. This credit score is one of the highest credit scores an individual can have. It indicates that the individual has an excellent credit history and is skilled at managing their finances. 

Any individual with such a credit score can expect little to no trouble in getting credit tools and facilities in the emirates. Banks highly prefer applicants with high and very high credit scores for their loan products and credit cards. Thus, 790 credit scores can be considered very good and even excellent in most cases. 

How to Get a 790 Credit Score?

If you wish to improve your credit score and take it to 790 or above, here are some steps that you can follow for the same: 

Pay Your Bills:

Whether it is your credit card bills or your monthly utility bills, make sure that you pay them all in due time. Overdue bills or late payments lead to a reduction in credit scores. Ensuring that all the bills are paid timely every month can easily help you get a 790 credit score. 

Utilise Credit Carefully:

Your credit score will drop if you max out your credit card every other month or so. The key here is to use only 10-30 per cent of your credit limit every month. By maintaining a healthy credit utilisation ratio, you can improve your credit significantly and take it to the level of 790. 

Diversify Your Portfolio:

There are mainly two major types of credit tools in the banking domain – revolving (like credit cards) and instalment (like loans). With respect to credit score improvement, it is wise to have both of these kinds of credit accounts in your portfolio.

At the same time, you must avoid getting multiple credit tools of the same kind. For instance, you should get only one or two credit cards after proper research at once. Stick with your choices for as long as you can to build your credit. 

Consistency is the Key:

Getting a 790 credit score is not a day’s task. Building a credit score requires you to consistently work towards it. Thus, it becomes necessary to ensure that all your bills are always paid on time, your credit cards are used responsibly, and you have both revolving and instalment style credit tools in your portfolio. Follow all these practices consistently and be patient to improve your credit score. 

What can a 790 Credit Score Get You?

With a credit score as high as 790, one can expect easy access to most financial products in the UAE without much difficulty.

Discussed below are the prospect of obtaining the following products for an individual with a credit score of 790:

Credit Card with a 790 Credit Score:

Getting any credit card that you are eligible for is easy with a 790 credit score. You will just need to make sure that you have the minimum required salary/income for your preferred credit card and also qualify for other eligibility requirements. 

Personal Loans and 790 Credit Score:

Personal loans in the UAE often come with room for negotiation. If you have strong credibility and a good customer profile, you can negotiate with the bank and easily bring down the interest rates. A 790 credit score is good enough to help you score the lowest possible interest rates for personal loans. 

Home Loans for 790 Credit Score:

Credit scores are of utmost importance when it comes to home loans. As mortgage loans come with long repayment tenures (going up to 25 years), credibility becomes vital for even handing out approvals. 

Having a 790 credit score can help you get approvals for home loans easily and even score a comparatively low-interest rate as well. 

Auto Loans for 790 Credit Score:

Compared to other loans, credit scores have a lesser impact on approvals for auto loans in the UAE. However, these scores can affect the interest rate that you get for the loan. 

A 790 credit score can easily get you some of the lowest possible interest rates for your car loan in the UAE. However, keep in mind that other factors like car model and make, condition, and others will also impact these rates. 

790 Credit Score & Insurance Plans:

Your credit score can significantly impact the premium price of your insurance plans in the UAE, with insurance providers considering your credibility when deciding the premium of your plan. 

With a 790 credit score, you can expect to get low insurance premium prices with ease. As a 790 credit score falls in the ‘very high’ category set by AECB, insurers tend to offer some of the lowest prices to candidates with these scores.  

Check Your Credit Score for Free with Policybazaar UAE

You can check your AECB credit score free at policybazaar when you begin your journey to get a personal loan or a credit card. The scores are obtained from the official AECB portals, with the applicable fee for checking credit scores being covered by us. 

Thus, you can check your credit scores accurately with Policybazaar UAE for free! 

Key Takeaways

A 790 credit score is an apt indicator of the fact that you have managed to keep payments of your loan repayments, credit card bills, and day-to-day bills on track. A 790 credit score represents that you are rather responsible when it comes to finances and have the capabilities to manage both debit and credit accounts flawlessly. 

As far as increasing credit score is concerned, getting a 790 credit score is easy if you are consistent with timely bill payments and proper credit utilisation. Building your credit score is a lengthy but relatively easy process and requires nothing more than dedication and punctuality concerning financial obligations. 

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