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The steps to improve CIBIL includes-<br><br>Take a New Personal Loan or a New Credit Card<br><br>If your Credit Score is not good or it hasnu2019t changed much since the long, itu2019s because there has been nothing to be reported in your CIBIL. So to improve your portfolio it is important to have something which needs to be tracked and reported. This can be done by taking a Credit Card or a small amount of personal loan. Once you take the credit card or a personal loan you start adding to your CIBIL report. <br><br>Timely Payments <br><br>Make sure that you pay the EMIs of your personal loan on time, and if it is a credit card try to clear its bill timely. To make it more convenient it will be easier to do with a credit card as the expenditures through your card are totally dependent on you. So, use as low as possible and clear that bill at the start of the month. <br><br>Pay More than the Minimum due Amount<br><br>In case, when you are not able to clear the entire bill of your credit card, try to pay more than the minimum amount due. Doing this will make you debt-free in very less time and along with this, it will add to your CIBIL report too.<br><br>Donu2019t Apply for Credit again & again if already Rejected<br><br>Whenever you apply for a loan, lenders enquire for your CIBIL score to know your creditworthiness. Suppose your loan application gets rejected with 2 lenders and you kept on applying for the loan with other lenders. In this case, so many inquiries made for your CIBIL can also hurt your CIBIL. <br>
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Your CIBIL score is based on your Credit report, which is basically a summary of your credit history which includes your previous borrowings and repayment track. • A CIBIL score of 750 and + is considered as a good CIBIL • ACIBIL of less than 700 is considered as a low CIBIL
Get a Credit Report from TransUnion, Equifax or Experian • The first step towards improving your credit score begins with checking your credit score. • You can’t work on anything until you get to know that it is wrong or it requires improvement. • Same is true with CIBIL score. You can’t work on it until you get to know that it needs to be improved.
Check for Accuracy • Once you get the report, your next step should be to check it in detail. Make sure that all the information mentioned is correct and accurate. • Even a single mistake in your CIBIL report and lead to a negative impact on your CIBIL score. Hence be careful and check for the details.
The steps to improve CIBIL includes- • Take a New Personal Loan or a New Credit Card • If your Credit Score is not good or it hasn’t changed much since the long, it’s because there has been nothing to be reported in your CIBIL. • This can be done by taking a Credit Card or a small amount of personal loan.
Timely Payments • Make sure that you pay the EMIs of your personal loan on time, and if it is a credit card try to clear its bill timely. • To make it more convenient it will be easier to do with a credit card as the expenditures through your card are totally dependent on you
Pay More than the Minimum due Amount • In case, when you are not able to clear the entire bill of your credit card, try to pay more than the minimum amount due. • Doing this will make you debt-free in very less time and along with this, it will add to your CIBIL report too.
Don’t Apply for Credit again & again if already Rejected • Suppose your loan application gets rejected with 2 lenders and you kept on applying for the loan with other lenders. • In this case, so many inquiries made for your CIBIL can also hurt your CIBIL.
Remember, nothing impact your credit score faster or more effective than paying bills on time and using your credit cards judiciously.
