593 Credit Score


A credit score of 593 is categorized as a ‘Fair’ score, reflecting a need for improvement in credit management. This score can make securing loans or credit cards on favorable terms challenging, as lenders view it as a high-risk range. However, with consistent efforts and strategic financial decisions, you can improve your credit score and unlock better financial opportunities.

On this page, we will go through the meaning of a 593 credit score, tips to improve your credit score, its importance, loan options, credit card offers, etc. Read on to know more!!


A 593 credit score is categorized as Fair, signaling high credit risk and making it challenging to secure loans or credit cards with favorable terms. Improving this score requires timely payments, reducing credit utilization, and addressing errors in your credit report.

593 Credit Score - Good or Bad

A 593 CIBIL score is categorized as ‘Fair’ and is a credit score below average but closer to the Fair range, requiring significant improvement to secure better financial opportunities.

Credit Score Range Category What It Means
300 - 550 Fair High risk; indicates frequent defaults and limited loan options.
551 - 650 Fair Subpar credit; loans may be approved with higher interest rates.
593 Fair (Low) Moderate risk; challenges in securing loans or favorable terms.
651 - 750 Good Reliable credit; higher loan approvals and moderate interest.
751 - 900 Excellent Low risk; easy approvals and best interest rates available.

Meaning of 593 Credit Score

With a credit score or CIBIL score of 593, lenders see you as a risky borrower and provide limited loan options at relatively higher interest rates. Let’s understand the credit score of 593 better:

  • Category: Poor or below average.
  • Implication: You may face challenges in obtaining loans, credit cards, or other forms of credit without collateral.
  • Risk to Lenders: Indicates a higher risk of default based on past repayment behavior.

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Reasons Why You Have a 593 Credit Score

A credit score of 593 indicates areas where your financial habits or credit management need improvement. Understanding the reasons behind this score is the first step toward rebuilding it. Here are the key factors contributing to a 593 credit score:

  • Late or Missed Payments: Late or skipped EMIs and credit card payments significantly impact your score, signaling unreliability to lenders.
  • High Credit Utilization Ratio: Using more than 50% of your total credit limit suggests financial strain, which lowers your score.
  • Loan Defaults or Settlements: Any history of loan defaults or settling for less than the full amount indicates high credit risk.
  • Multiple Hard Inquiries: Frequent loan or credit card applications result in hard inquiries, which can reduce your score by several points.
  • Limited or Fair Credit History: A short or non-existent credit history makes it hard for lenders to evaluate your creditworthiness, pulling your score down.

593 Credit Score Loans

With a 593 credit score, your borrowing options are limited, but not impossible. Here’s what you can expect:

  • Secured Loans: Banks may approve loans against collateral like loan against property or loans against fixed deposits.
  • High-Interest Personal Loans: Unsecured loans may come with stricter terms and higher interest rates.
  • If you are opting for home loans, you may need to pay a higher down payment, and loan interest rates could be relatively higher. Besides, you may also qualify for some government-aided home loans like Pradhan Mantri Awas Yojana. Thus, a joint home loan with a person having a good credit score will help you get a home loan at lower interest rates.
  • For a car loan with a 593 credit score, you would encounter higher interest rates and a higher EMI. However, a co-applicant will help you get a car loan on better terms.

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593 Credit Score Credit Cards

As 593 is not a good credit score, you can expect the credit cards of the following categories:

  • Secured Credit Cards: These are linked to fixed deposits and are easier to obtain. For example, SBI Unnati, ICICI Coral Secured Card.
  • Entry-Level Credit Cards: Some banks may offer basic cards with low limits and higher fees. For example, Axis Insta Easy Card or HDFC MoneyBack Card (case-specific).
  • Prepaid Cards or Credit-Builder Cards: These cards are not credit cards but help you build your credit score. You just need to load money onto the card and use it like a debit card to show financial discipline.

Hence, to get more financial benefits and the best loan offers, it is suggested to increase your credit score to 750.

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Tips to Increase CIBIL Score from 593 to 750

Improving your credit score requires time, effort, and consistent financial habits. Here are actionable steps to boost a 593 credit score:

  1. Check Your Credit Report
    • Action: Obtain your credit report from CIBIL or other authorized agencies like Experian, CRIF & Equifax to track your credit score consistently.
    • Why: Identify errors, inaccuracies, or outdated information that may be dragging down your score.
  2. Pay All Bills on Time
    • Action: Make timely payments for credit cards, EMIs, and utility bills.
    • Why: Payment history is the most significant factor influencing your credit score.
  3. Reduce Credit Utilization
    • Action: Keep your credit usage below 30% of your total credit limit.
    • Why: If your limit is ₹1,00,000, keep your usage under ₹30,000.
  4. Avoid New Credit Applications
    • Action: Limit applying for loans or credit cards for at least 6 months.
    • Why: Hard inquiries from multiple applications can lower your score further.
  5. Pay Off Outstanding Debts
    • Action: Clear overdue amounts, starting with high-interest debts.
    • Why: Reducing your debt load improves your credit profile and utilization ratio.
  6. Use a Secured Credit Card
    • Action: Obtain a secured credit card backed by a fixed deposit.
    • Why: Responsible use of this card helps build a positive credit history.
  7. Dispute Errors in Your Credit Report
    • Action: File disputes for any incorrect information or duplicate entries.
    • Why: Correcting these errors can result in an immediate score improvement.
  8. Keep Old Credit Accounts Active
    • Action: Avoid closing older credit cards with good payment histories.
    • Why: A longer credit history positively impacts your score.
  9. Make More Than the Minimum Payment
    • Action: Pay more than the minimum due on credit card bills.
    • Why: This reduces debt faster and lowers your credit utilization.
  10. Monitor Your Credit Regularly
    • Action: Check your credit score quarterly to track progress and address issues promptly.
    • Why: Staying informed helps you make proactive improvements.

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Benefits of Increasing CIBIL Score from 593 to 750

Achieving a 750 CIBIL score gives numerous financial benefits, including:

  1. Lower Interest Rates: Enjoy reduced interest rates on personal loans & other loans, plus better options & varieties of credit cards.
  2. Higher Loan Approvals: Easily qualify for personal loans, car, and home loans.
  3. Premium Credit Cards: Access cards with exclusive perks like cashback, rewards, and lounge access.
  4. Higher Credit Limits: Banks may offer increased spending limits on credit cards.
  5. Faster Loan Processing: Quicker approvals with minimal documentation.
  6. Better Negotiation Power: Leverage your score to negotiate better terms and fees.

Frequently Asked Questions

A 593 credit score indicates Fair credit health, often due to late payments, high credit utilization, or limited credit history, and is seen as high-risk by lenders.

A 593 credit score is classified as bad, restricting your access to loans and credit cards with favorable terms.

You can qualify for secured credit cards backed by fixed deposits or basic cards with lower credit limits and higher fees.

Options include secured loans (e.g., against property or fixed deposits) or high-interest personal loans with stricter conditions.

Pay all bills on time, reduce credit utilization below 30%, clear outstanding dues, dispute report errors, and avoid unnecessary credit applications.

The time varies but depends on actions like clearing debts, building a timely payment history, and lowering credit utilization, typically taking months to a year.

Getting a mortgage is possible but often requires higher down payments, and collateral, and comes with higher interest rates.

A low score results in higher interest rates, making borrowing more expensive and increasing repayment burdens.

Some NBFCs or fintech lenders may offer loans but usually with higher rates and stricter terms.

A 593 score limits loan approvals, reduces credit options, and often comes with unfavorable borrowing conditions, impacting financial flexibility.

Yes, but it’s difficult. You may need to pay a higher interest rate and a bigger down payment. Improving your score will make it easier.

Yes, but expect higher interest rates and stricter terms. Improving your score can help you get better deals

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