How Can I Improve My Cibil Score?

By Author: Dinesh Kumar
Total Articles: 1
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Here are some points to be kept in mind to improve your CIBIL Score:

Pay your EMIs on time: Repay all loans and dues on time. If there is any unpaid loans and advances, try to close them immediately. Try to pay your loan installments on time to avoid over dues or default.

Report Mistakes: You should keep a regular watch on your CIBIL report and if you find any discrepancies in the data, immediately report the same to a credit agency and your bank. If the mistake is not rectified in time, it can have a negative effect on your CIBIL.

Management of credit card: Pay your balance in time. Don’t spend more than 30-40% of the limit on your card to avoid over usage.

Increase your credit limit: Whenever you get a chance to increase the limit of your card, go for it. More limits ensure better score.

Secured Vs unsecured loan: Try to keep the ratio of 75-25 between secured and unsecured loans. Secured loans, like home loans creates assets and increase the score whereas excessive unsecured loans shows a constant need for liquidity and your CIBIL score may go down.

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