9 hacks to improve your CIBIL score fast in India

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The following are the 9 hacks to improve your CIBIL score fast in India:

  1. Pay bills on time: Late or missed payments can have a significant negative impact on your CIBIL score. Make sure to pay all your bills, including credit card bills, loan EMIs, and utility bills, on time.
  2. Keep credit utilization low: Try to keep your credit utilization ratio, the percentage of your available credit that you are using, below 30%.
  3. Limit credit applications: Avoid applying for multiple loans or credit cards at the same time, as each application results in a hard enquiry on your credit report, which can lower your score.
  4. Pay off outstanding debt: High outstanding debt can lower your score. Make sure to pay off any outstanding credit card balances or unpaid loan amounts.
  5. Dispute errors on credit report: Check your credit report regularly for errors and dispute any mistakes with the credit bureau.
  6. Don’t close old credit card accounts: Closing old credit card accounts, especially those with a high credit limit, can lower your score. Keep the accounts open and use them occasionally to show responsible credit behavior.
  7. Keep a mix of credit: Having a mix of credit types, such as a credit card, personal loan, and home loan, can improve your score.
  8. Be patient: Improving your credit score takes time, so be patient and don’t get discouraged if you don’t see improvement immediately.
  9. Seek professional help: If you are struggling to improve your credit score, consider seeking professional help from a financial advisor or credit counselor.

It’s important to keep in mind that, Improving your CIBIL score is not an overnight process. It takes time and consistent effort to see results. It’s always better to start by understanding the factors that are affecting your score, and then take the necessary steps to improve it.