Your score falls within the range of scores, from 0 to 600, that is considered very poor. A 500 CIBIL Score is a significantly below the average credit score.
A 500 CIBIL Score is a significantly below the average credit score.
Many lenders choose not to do business with borrowers whose scores fall in the very poor range, on grounds they have unfavorable credit. Credit card applicants with scores in this range may be required to pay extra fees or to put down deposits on their cards. Utility companies may also require them to place security deposits on equipment or service contracts.