11 Best Ideas to Increase CIBIL Score
You can increase or maintain your CIBIL score by being careful with your financial records and spending behaviour. Credit score is very important for your loan application and credit card approval eligibility, thus you have to be cautious and maintain a decent CIBIL score.
Here are ways to assure a steady increase in your credit score:
Check your credit report at least once a year to verify accuracy of all the details. Request CIBIL with a written application, to fix any errors
If you intend to take loans often, take a mix of both secured and unsecured loans and not just the latter one the most
Pay your credit card bills regularly. Do not miss or delay these payments or it can reduce your credit score. Try to restrict from using too many credit cards
Make on time payments of loan EMIs. In case you cannot meet up to the current EMI schedule, speak with the lender and work a way out to a more suitable EMI pattern
Avoid over-leveraging of credit and at the same time, use credit card to make utility bill payments than spending too much on buying materials, goods, as these cost more usually and can lead to a larger interest to be paid
Pay for your credit card bills completely than paying only the minimum amount due
Keep a clean financial record, like no defaults (skip, delay, missed etc.) in payments
Utilize credit card wisely, do not overspend than designated credit limit
Do not take too many forms of credit at the same time
Maintain a copy of your economic transactions than enquiring about it from bank regularly
Ensure that financial institutions and banks submit positive and correct financial details to CIBIL
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