Why Your CIBIL Score Matters

Your CIBIL score (ranging 300-900) determines your loan eligibility and interest rate. A score above 750 gets you the best rates. Below 650, most banks reject your application.

10 Tips to Improve Your CIBIL Score

  1. Pay EMIs on time: Payment history is 35% of your score. Never miss a due date.
  2. Keep credit utilization below 30%: If your credit card limit is ?1 lakh, spend max ?30,000.
  3. Don't close old credit cards: Old accounts show credit history length.
  4. Limit new credit applications: Multiple hard inquiries hurt your score.
  5. Check your credit report for errors: Dispute wrong entries with CIBIL.
  6. Maintain a credit mix: Have both secured and unsecured loans.
  7. Become an authorized user: Being added to a family member's account can help.
  8. Request a credit limit increase: Lower utilization ratio improves score.
  9. Pay outstanding dues: Settle all overdue amounts immediately.
  10. Be patient: Score improvement takes 3-6 months of consistent good behavior.