CIBIL Score Increase

CIBIL Score Increase: Hello friends, your financial information can be easily viewed through your credit score. If your CIBIL score is not good, then you may face many difficulties when applying for a loan. Today, we will let you know how good a CIBIL score should be to get a loan and how you can improve it if your CIBIL score is poor.

Friends, we know that when we apply for a loan at a bank, they first check our CIBIL score. This CIBIL score is also known as a credit score. It gives us information about our financial record. If your credit score is good, then you can easily get a loan at a very low interest rate.

CIBIL Score Increase Highlight

If your CIBIL score is low, you can improve it in the following ways

1. Pay your loan installments on time.

If you have taken any loan from a bank and you are paying its installments on time. And if you are using a credit card and also paying the installment of the loan taken for it on time, then your credit score can improve due to this.

2. Don’t take too many loans at once.

If your credit score is poor and you want to improve it, then you should not take too many loans at once because the burden of paying them increases on you. And many times your EMI may also be late, which can cause your credit score to deteriorate.

3. Use only up to 30% of the credit card limit.

You should use only up to 30% of the limit of the credit card you have. Using more credit cards for purchases can affect your credit score. And sometimes you may have to pay the billing cycle of the card before its billing cycle ends.

4. Do not increase the limit of the credit card.

If the limit of the credit card increases, you do not get any achievement in it. But because of it, your expenses increase. Therefore, you should not increase the limit of your credit card. When you increase the limit of the card, it decides how much you spend. And in situations where your bill increases, if you do not pay it on time, your CIBIL score deteriorates.