Can you Improve CIBIL score to enhance your credit capacity? Yes, you can make improvements in your CIBIL Score if you are having a low score or if there are errors in your credit report. CIBIL Score is a prominent factor that makes you a reliable borrower to the lender or bank from which you are borrowing a loan or credit card. And, if you have a low score then there might be some chances of rejection of your loan or credit application. You can improve CIBIL Score to get easy loan or credit card approval by following the tips mentioned in this article. How to know the CIBIL Score? You can know your CIBIL Score easily through CIBIL Transunion credit bureau, it is an online credit score calculator that provides your CIBIL score login free. It can also give you suggestions on your loan and credit card according to your score. CIBIL score is just a 3-digit numeral that ranges from 300 to 900. You can know the CIBIL Score by going to the official CIBIL website and enter your personal details in the form and submit it by verifying your PAN details. If you are facing any trouble in your loan or credit card approval then it may be because of a low credit score. Because if you fit in the loan or credit card eligibility criteria then credit score is the only factor that can make your loan or card approval. Incorporate these Points to Improve CIBIL Score Find Errors: If you thought that the score generated by the CIBIL contains errors then you should discuss it with the credit bureau agency and resolve it. Because it can be harmful for your credit report if you didn’t resolve this issue as soon as possible. Pay the dues: You can improve CIBIL Score only if you pay the due amount of your credit card bills or loan interest rate if any. Because, if the reason for your low credit score is your bad repayment history then you can only maintain a decent score by making payment for your due amount. Balance of credits: The reason for your low credit score might be the large number of unsecured credit or loans. So try to maintain a balanced credit status by taking equal numbers of secured or unsecured loans. You can take personal loans only if you have an urgent need or also can use the amount to pay your secured loan dues to improve CIBIL score. Low Credit Utilization ratio: Another important factor which can affect the CIBIL Score is the credit utilization ratio. It is calculated by taking into account your credit limit minus the used amount. For instance, if you have a credit limit of INR 2 lakh and you have used INR 50,000 from your card then your credit utilization ratio would be below 40%. So, try to use the credit
card smartly because if you have used it beyond the limit then it makes you a credit seeker and lower your score. Now use the mentioned points to improve CIBIL Score and get approval for your loan or credit card easily from any bank or NBFC.