Top News

CIBIL Score: It is very important to maintain a credit score to take any kind of loan. The CIBIL score is between 300 and 900. But due to many reasons, many times the CIBIL score of a person (Credit Score News Updates) goes down, which causes problems in taking a loan.

If your credit score is not good, then the bank can reject your loan request. Let us know in the news how you can increase your CIBIL score.

CIBIL will increase by taking this card

If you want to increase your credit score (Credit Score Updates), then you can take a secured credit card. To get a secured credit card, you have to make an FD in the bank.

You will get a credit limit according to the value of the FD. You can increase your CIBIL score by using this card in the right way and within the limit.

A credit builder loan is also beneficial.

Along with this, you should know that the Credit Builder Loan is actually designed to increase the credit score. A very small amount is borrowed in this loan.

The amount received in this loan is kept in the savings account only. When you repay the loan on time, the information is given to the credit bureau. This improves your credit score.

Keep the credit utilization ratio low.

If you want to increase your credit score, then while using it, the credit utilization ratio should be kept low. You should use a maximum of 20 percent of the credit limit. This has a positive effect on your credit score.

Check the credit report on time.

Apart from this, keep checking your credit report from time to time every month. If any mistake is seen in it, then get it corrected immediately. Along with this, pay the installment of your existing loan on time. With this, your credit score will gradually improve.

Increase your CIBIL score by becoming an authorized user.

Let us tell you that if the credit score of any of your friends, relatives, or family members is good, then you should become an authorized user on his/her credit card. This is also a great way to increase the credit score. You can also use this method to increase your CIBIL score.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.