8 Ways To Improve Your Bad Credit Score Into An Ideal One

Your credit score or CIBIL score determines your creditworthiness. A score of 750+ is suitable for a personal loan. Most of the borrowers unable to get the loan due to a lack of proper credit score. Hence it is always advisable that to maintain the CIBIL score to an estimated score.

Every borrower must have the knowledge of CIBIL score required for personal loan. Instant loans for low CIBIL scores will have a higher interest rate. You can improve your credit score by taking measures like:

1. Regular checking of credit report: It indicates where the default lays.
2. No repetitive application for credit if once rejected: Each application and subsequent rejection will lower the score.
3. Pay your loans: make regular payment of loan over dues.
4. Pay your credit card bills on time: don’t pay the minimum dues, pay a sizable amount which will have a positive impact on your CIBIL score.
5. Don’t settle loans and credit cards: do not indulge in any settlement with banks regarding loan or credit card. It will not get into CIBlL reports.
6. Take minimum borrowing: more loan application and maximum use of credit card limit indicate credit hungry behavior.
7. Have a mixed bag of credit: take the right mix of secured and unsecured loans.
8. Watch out for co-applicants: any default in payment by your partner will reflect negatively in your credit report.

Though these are some of the tips which can be used to enhance the credit score ideal and creditworthy.

Additional Read: What is the Minimum CIBIL Score to Get a Personal Loan?