Improving your CIBIL score is essential for better financial health and increased access to credit facilities. Here are some effective ways to improve your CIBIL score.
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Regularly check your credit report for errors or discrepancies that may affect your score. Dispute any inaccuracies promptly with the credit bureau.
Each time you apply for credit, a hard inquiry is made on your credit report, which can temporarily lower your score. Limit applications for new credit to when necessary.
Maintain a low credit utilization ratio, ideally below 30% of your available credit limit. High credit utilization suggests financial stress and can negatively impact your score.
Timely payment of bills and EMIs is one of the most critical factors impacting your CIBIL score. Late payments can significantly lower your score.
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