How To Improve Your CIBIL Score: 7 Easy Steps
The civil score is a three-digit number (300-900), which is considered good if you see ₹750 above in your bank account. If it is less than 750, then you will face a lot of trouble in getting a loan. If it is less, then how to increase it? We will guide you completely
Table of Contents
You can easily understand how to improve your CIBIL score through my post. First, read it like this, and you will understand easily.
Pay Credit Card Bills on Time
Every time, pay your credit card bill on time so your loan does not affect your CIBIL score. Because doing it on late EMI can affect your CIBIL score
If you forget to make a payment, you have the option of autopayment, and you should always keep it on so that even if you forget, the payment gets made automatically.
Make the minimum EMI while taking a loan, and always make full payment.
Avoid taking multiple loans at one time.
Take only one loan at a time because taking multiple loans will reduce your CIBIL score. Do not take any other loan until 40% of the loan amount is paid.
Take any loan only after 40-50% of the loan amount is paid. This will not reduce your CIBIL score, and you will have a lower EMI claim.
Choose a longer tenure while taking a loan.
After taking a loan, always keep the EMI payment period long so that you do not face any problem in repaying the loan, and you can pay it easily.
Customise your credit card limits.
Do not use more than 30% of your credit card limit, as this will lower your CIBIL score. Minimise the use of credit cards and check every month that the credit card limit is less than 30%.
Keep the old credit card active.
If you have old cards, do not close them, as this will increase your credit history. Because the better your credit history, the higher your CIBIL score will be.
Make a payment before the due date.
If you have taken a loan, then pay the bill before the due date. Failure to pay one EMI will directly impact your CIBIL score, which will go down.
Negotiate Your Past Dues
If you have a credit card EMI loan outstanding, then settle it first.
Conclusion
If you follow my guide constantly, then definitely your CIBIL score will increase in 3 to 4 months. Do tell us how you liked my post.