HOW TO IMPROVE CIBIL SCORE SOME USEFUL TIPS

Nowadays maintenance of CIBIL score is becoming difficult for low middle class specially as any default in credit payment reduces score which affect them in future from not getting benefits of credit as others. 

HOW TO IMPROVE CIBIL SCORE SOME USEFUL TIPS 

So, here is some steps that can help you to maintain your credit card score:-

(1) Paying Bills on Time

Paying credit bills on time, you can achieve your 35% of credit score. You can set Autopay like feature for credit card bills, emis and others credit bills as well as you can also set reminders for paying bills on time.

(2) Keeping Credit Utilization Low

Another way to have good score of your credit is to use your credit limit under 30% of total values, let's understand through 

Example:- if you got Rs.1,00,000 limit then try to spend less than or equivalent to 

Rs. 30,000.

(3) Avoiding Multiple Loan Applications

You can also acquire a good credit score by avoiding multiple loan application which will benefit you in future at the time of needs.

   

(4) Maintaining a Mix of Credit

 You can manage your mix has balance ofyour secured loans (i.e., home loans, student loans etc. ) and unsecured loans ( i.e. personal loans or credit cards etc), which affects your credit score positively.

(5) Regular Check Your Credit Report

It is very important to review your credit for errors and inaccuracies, which may have occurred and also you can check your score or report for credit on platform likes CIBIL, Experian, Equifax etc.

(6) Don’t Close your Old Credit Accounts

Nowadays biggest problem of creditors are that they often close their old accounts due having not good score which affects you more in future as well as for avoiding fees lavish on it even having good score in old accounts. But if you have old account with good score then they will benefit you in future.

(7) Avoiding Minimum Payments

Many times creditors pay a minimum amount of outstanding amount inspite of paying full amount, which can avoid your interest accumulation but it boosts your credit worth.

So avoid to pay minimum amount of total credit amount.

  

(8) Managing Debts Wisely

You can manage your credit score by paying high interest rates credit as soon as possible and by avoiding taking an excessive loans.

(9) Be Cautious with Co-Signed Loans

Nowadays Many cases are seen with guarantee that their credit score get affected due to default done by becoming him as a guarantee or co-sign of someone else who is not financially responsible to pay their credit. So you must ensure that the person for whom you are a guarantee that is financially responsible or not.

   

(10) Limiting Revolving Credit

Use credit card balance for a short period of time and always aim to clear them quickly as it can indicate you involving on borrowed money and over dependency on credit.

   

(11) Avoiding Overdrafts

Always ensure that your account have sufficient funds or amount to avoid overdrafts as it may singnal as financial distress to lenders, which is not good for you.

(12) Stay Informed About Credit Trends

As a creditor you must be aware of financial practices and new financial tools like credit builder loans or secured credit cards which help you to improve your credit score.

 Don't forget to give your feedback how it helps you in improving your credit score.

Thanks for visiting our site !

Related keywords:-

how to improve cibil score immediately

how to improve cibil score after settlement

how to improve cibil score in 3 months

how to improve cibil score from 500 to 750

how to improve cibil score above 800

how to improve cibil score after credit card settlement

how to improve cibil score fast in india

how to improve cibil score india

how to improve cibil score without credit card

how to improve cibil score