How to Get a 700 Credit Score with Late Payments


A Credit Information Bureau (India) Limited (CIBIL) score or credit score is a three-digit number, typically ranging between 300 and 500, representing an individual’s creditworthiness. It indicates your ability to repay a loan and allows the lenders to determine if you are reliable to pay off the debt on time. A credit score plays a significant role in your financial life, as a good credit score provides you with loans at a lower interest rate and benign terms.

There are various debt relief companies that offer unsecured debt settlement, debt management services, and debt relief programs that help you in maintaining a good credit score.

What is a Good Credit Score?

A score equal to or above 700 is considered a good credit score as it imparts confidence in the lender about your creditworthiness and hence can get you a quick approval for your loan. A good credit score not only increases the chances of your loan approval but also lets you enjoy potentially lower fees, lower interest rates, and flexible terms in your favour. The lender might even agree to offer you a higher amount and a higher credit limit (the amount you can spend using the credit card) on your card.

Hence, it is crucial to maintain a decent credit score. The credit score is determined by factors such as payment history, credit utilization, outstanding debt, and length of the credit history. Errors in making the CIBIL report, late payments, or irresponsible payment behaviour can significantly reduce your credit score. One can always choose debt relief programs and debt settlement services offered by top debt relief companies such as Freed that help you in unsecured debt settlement.

How Can Late Payments Affect Your Credit Score?

A delay in your payment not only harms your credit score but also your eligibility for getting the best deals on loans and credit cards. The degree of damage to your credit score is determined by how late was your payment.

Delay of less than 30 days

If you have forgotten to make your payment or pay it in less than 30 days of delay, it would not have a drastic effect on your credit score. However, you might be penalized with the additional late payment fees.

Delay of 30 days

A 30-day delay does not cause significant trouble unless it is repeated frequently. It is reduced by about 100 points and affects mostly when it is recent since its effect is neutralized over time.

Delay of 60 days

A 60-day-late payment can cause greater damage to your credit score and shows a pattern of irresponsible payment behaviour.

Delay of 90 days

A delay of 90-days can have an impact on your credit score for up to seven years. Your credit report can even be declared as a Non-Performing Asset(NPA). However, the classification and criteria of NPAs vary according to different lenders.

Delay beyond 120 days

A delay of more than 120 days can have a massive impact on your credit score and is classified as Charge-offs, collections, or foreclosures.

But you do not have to fret about late payments as you can still manage to maintain a credit score of 700 by taking the following measures:

A goodwill letter can help to instil confidence in the lenders about your creditworthiness.
Analyze your situation; if you are defaulting on your debt or loan, consult one of the top debt relief companies like Freed. This ensures that you do not default on your debt or loan thus resulting in an optimal credit score.


You can maintain a credit score of 700 irrespective of late payments in your financial history by making timely payments in the future, lowering credit utilization, maintaining a healthy mix of accounts, and planning efficient money management.

Need to talk to a Debt Counsellor?
Have more questions? Call us at