Correct the bad CIBIL score in these ways, there will be no problem in getting loan or credit card

CIBIL Score: If you have ever taken a loan then you must have known about the CIBIL score. In fact, it is very important to have a good CIBIL score to take a home loan, car loan or personal loan. That’s why CIBIL score should always be good. Today we are telling you some important tips which will prove to be helpful in keeping your CIBIL score good. But first let us know why a person’s CIBIL score gets spoiled.

Why does CIBIL score get worse?,

• Not paying the loan taken from the bank on time.
• Non-payment of credit card bill on time.
• Not maintaining minimum balance in the bank account or having a minus balance in it.

Improve your CIBIL Score by adopting these tips

• Pay the loan or any other EMI, credit card dues on time. Do not be careless in this.
• If you use a credit card, try not to exceed 30% of your credit limit. Spending more than this limit can have a negative impact on your CIBIL score.
• To build a good CIBIL score, it is important that you repay the loan on time. A good loan history makes your CIBIL score strong.
• Many people close their credit cards out of fear that they should not fall into the debt trap, but it should be avoided. With your credit card, you keep doing little shopping and keep paying the bills.
• Review your joint account accounts periodically. In case of a joint loan, a customer is equally responsible for the payment of EMI. This has a direct impact on the credit score.

• Good credit score gives you loan easily and at low interest, know its 5 benefits here.

CIBIL score of 750 or more is good

• The CIBIL score ranges from 300 to 900 marks. If the score is 750 marks or more then it is easy to get the loan.

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