A good CIBIL Score is a basic need to qualify for any loan.
CIBIL score is a three-digit number that varies between 300 and 900 based on various factors. This score helps the lenders know about how you repay your loans.
Those with a good credit score have nothing to worry about and stay assured of any loans. However, numerous people have a bad credit score or a score below 680. If you are one among such customers, don't worry! We are sharing 7 hacks that will help you improve your CIBIL score by more than a 100 points.
Getting a secured credit card means you are getting a credit card against your Fixed Deposit. This is a great way to improve your CIBIL score in a short period. If you continue repaying the credit card bill properly, you will experience a good hike in your CIBIL score within a year.
A home loan is considered good credit as it builds an asset for you while you repay the loan every month.
Most people today own at least one credit card. Use yours regularly. This will help to improve your score.
Everyone has a credit limit, i.e., the maximum amount a bank can give you. However, it is prudent never to use more than 30% of your credit limit.
Applying for too many loans is seen to be credit hungry. Avoid!
Sometimes, you need professional help. That's when a person trained in the art of mending your ruined credit can be of assistance.
This is important to spot any unauthorized use of your credit report and prevent Identity Theft.
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