How to Increase Cibil Score | Credit Score Kaise Badhaye | CreditCard & Loan
CREDIT REPAIR SECRETS YOU NEED TO KNOW! | Easy DIY Credit Repair!
I know what it's like to have a bad credit score. I used to have an 850 score, but then I made some bad decisions and it dropped to 610. I was devastated. I knew that I needed to do something to fix it, so I did some research and found some strategies that worked.
Strategy 1: Bank Transactions in Savings Account
Banks update your credit score every month, usually at the end of the month. One way to improve your score is to make regular transactions in your bank account. This shows that you're a responsible borrower who can handle your finances.
I found that making transactions between ₹2 lakh and ₹5 lakh each month helped my score increase by 3-4 points. You can make transactions in your bank account online or offline.
Strategy 2: Loan and its Repayments
If you need a loan, consider taking out a gold loan or a property loan. Gold loans and property loans are typically available at lower interest rates than other types of loans, and they can also help improve your credit score.
I took out a gold loan and paid it back on time every month. This helped my score increase by 6 points each month.
Strategy 3: Clearance of Cheques
Every cleared cheque adds 3-4 points to your credit score. So, pay your EMIs, bills, or even family loans with cheques for a score-pumping bonus.
I started paying my EMIs and bills with cheques. This helped my score increase by 3-4 points each month.
Strategy 4: Credit Checks Cost Points
When you apply for a loan or credit card, the lender will check your credit score. Each lender check lowers your score by 6 points. So, only apply for loans or credit cards when you really need them.
I checked my credit report before applying for any loans or credit cards. I found that I had several harmful credit checks. I worked to get these checks removed, and this helped my score increase by 10 points.
Bonus Tip: Maintain Low Credit Card Balances
Keeping your credit card balances low is another important factor in improving your credit score. This shows that you're not overspending and that you can manage your finances responsibly.
I always try to keep my credit card balances below 30% of my credit limit. This helps my score stay high.
Conclusion:
By following these strategies, I was able to increase my credit score from 610 to 810 in just 4 months. If you're struggling with your credit score, I encourage you to try these strategies. They just might help you turn things around.
0:00 Intro
0:30 Bank Transactions 3-4 points
0:46 Loans 6 points
1:10 Cheque Clearance 3-4 points
1:25 Penalty Credit Points
1:39 Bonus TIP
#creditcard #loans #creditscore #cibilscore #improvecreditscore
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