How to raise my credit score towards 750

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Bad Credit Score can be improved/ rebuild even without Credit Cards. Primarily you need to repair your credit history before you see your Credit Score improvement.

The following factors are to be considered in case to improve your Credit Score:-

1.Make all overdue

It is extremely important to pay your bills on time. This affects 35% of your score Pay on time, all of the time. Your credit scores can be significantly impacted with just one late payment reported to your credit file.

2.Pay down balances

If you currently have credit cards and are using more than 30% of your limit then you want to follow this portion of this guide. Pay down high balances that put you over the 30% rule. Stay under 30% and maintain a low balance as mentioned previously. This factor alone is the second biggest impact to your score at a whopping 30% of your score.

3.Pay all EMIs regularly

Use auto-pay to pay the minimum every month and your scores should continue to improve with healthy, responsible activity.

4.Monitor your credit score

It is available FREE once a year from Credit Bureaus like CIBIL, Experian, CRIF etc. Complete a thorough review of your credit report. You are legally allowed a free copy of your report from each bureau once a year. Look for inaccuracies in balances, payment history, questionable collections.

5. Consolidate Your Debt

If you have trouble keeping track of multiple accounts, consolidating could be a good option. You can consolidate multiple debts into a single installment payment. In this case, you’ll be free of multiple payments to keep track of. Plus, you’ll be working towards a higher credit score. 

Credit Score – Myths

IBIL reports, generated on a monthly basis (as mandated by the RBI), help lenders evaluate and approve or reject loan applications, as the case may be. However, there are several myths associated with CIBIL which need to be busted.

What Credit Score do I need to get a Personal Loan?

The range of CIBIL Score is 300–900, usually Credit Score above 700 are considered to be good. But less than 700 score doesn’t mean you have a bad Score, it is an average Score. More importantly, you can get loans from many NBFCs and Banks with this score.

Free Credit Score

 

Credit Score is a three-digit number range from 300-900 that relates to how likely you are to repay debt. Banks and lenders use it to decide whether they’ll approve you for a credit card or loan. But that might be too late as the person’s loan application would have already been rejected and he would be left on to a loan path to rebuilding or improving his CIBIL score.

Credit Score Repair – Boost Your Credit Score FAST in 2021

 

Credit score is a three-digit numeric number found in the Credit Information Report and it plays an integral role in initiating the loan application process. The lower the score, the more trouble you may face. In case, you have bad credit history, it is necessary to follow certain measures to fix the issue.

Bad Credit Score – Side effects

 

 The score is given based on your loan or credit card repayment track of at least 6 months to a year. Any score of 750 or above is considered a good one while a credit score below 600 is considered bad by lenders. When you have a good credit score, it brings a range of benefits such as lower interest rates, higher borrowing or credit limit, quick disbursal, etc.

How to raise my credit score towards 750

Bad Credit Score can be improved/ rebuild even without Credit Cards. Primarily you need to repair your credit history before you see your Credit Score improvement.

5 Things lenders check beside your Credit Score 

Credit Score isn’t the only thing that could make or break your ability to get a loan or line of credit. Many lenders – mortgage lenders, especially – will also calculate a potential borrower’s debt-to-income ratio to determine whether they’re suited to take on another monthly payment.

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