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If you notice any inaccurate, outdated, or missing information, raise a dispute with Transunion CIBIL and your lender.
You’ll want to establish a mix of credit types, with some short-term low-interest loans, a few credit cards, and a few secured long-term loans like car loans or home loans.
To ensure that you pay your dues on time, write down payment deadlines for each bill in a planner or calendar and set up reminders online.
To ensure that you pay your dues on time, write down payment deadlines for each bill in a planner or calendar and set up reminders online.
The advantage of taking a personal loan to pay off your existing debt is the interest rate; it’s nearly half of the credit card interest rates.
It definitely reduces your debt faster; it also reduces your credit utilization ratio and improves your CIBIL Score.
This strategy will help lower the credit utilization ratio and give a boost to your CIBIL score.
A good average credit age would be more than 5 years. The longer your positive credit history is, the better is your credit score.
Keeping your old credit cards open helps you build a long and healthy credit history, thus improving your credit score.
Having many open accounts that you are not using will only accrue charges.
Every time you apply for a new credit account, the lender pulls up your credit report. Every pull is considered a hard inquiry, which can lower your score temporarily.
Longer Tenure ensures lower EMI, which you can comfortably pay, thus decreasing the chances of defaulting, delaying, or skipping your EMIs.
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