Cibil score or credit score is an essential aspect when you want to avail credit. However, it is not the only criterion which lenders look at before sanctioning your loans. But it also plays an important role when you apply for loans. If you have an excellent credit score, you can quickly get a loan or even a credit card, as lenders know about your creditworthiness by looking at your score. On the other hand, if you have a poor credit score i.e., below 300. No lender is willing to lend you if you have a poor credit score. If at present, you have a bad or poor credit score and you are struggling to get loans or credit cards. You can follow the tips mentioned-below to raise your credit score to apply for hassle-free loans in the future.
1) Always pay your dues on time to avoid paying late fee or penalty
2) Do not over utilise your credit utilisation ratio, keep it as low as possible i.e., below 30%
3) Do not settle your multiple debts or loans on your credit cards
4) Start building your credit history by not closing your old credit cards or loan accounts
5) Make a habit of checking your credit report very frequently
Read More: Different Ways To Improve Bad CIBIL Score