Financial strides as Timely payments, controlled credit use, and diverse accounts sculpt a higher CIBIL score, unlocking opportunities ahead.
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1
Timely payment of credit card bills, loan EMIs, and other dues is crucial , as Late payments negatively impact your credit score.
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2
Maintain a low credit utilization ratio, ideally below 30% of your available credit limit.
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3
Monitor your credit report for errors or inaccuracies that might be affecting your score negatively.
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4
Each time you apply for a new credit card or loan, it generates a hard inquiry which temporarily lowers your score.
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5
Keeping old credit accounts open can positively impact your credit history's length, which is a factor in your score calculation.
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6
Having a healthy mix of credit types, such as a combination of credit cards, loans , and retail accounts, can positively impact your score.
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7
Use your credit accounts periodically and make timely payments to demonstrate responsible credit behavior.
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