2. Credit score
A credit score is a 3-digit numerical value
based on a level analysis of a person's
credit report, to show the credit worthiness
of the person.
Range Quality
740 or higher Excellent
661 to 739 Good
601 to 660 Fair
501 to 600 Poor
500 or lower Bad
3. 5 Ways to Boost your Credit Score
1. Pay your bills on time:
Pay your bills on time, Punctuality matters
a lot. Late payment affects negatively to
your credit score. Try to pay bills on time
and don’t miss any re-payment. Payments
history holds something 35% of your credit
score so never miss them.
4. 5 Ways to Boost your Credit Score
2. Check Error and Fix them:
Check your credit score once in a year for
accuracy.
Famous saying by an Economist, "If you get
those errors cleaned up, it can make a big
difference."
• Review your main credit reports.
• Notice an error...File a dispute.
• Follow up on your dispute.
5. 5 Ways to Boost your Credit Score
3.Low credit Limit hurts Credit score:
If your credit usage is 90% of your credit
limit in a month and only 10% is left then
try to increase your credit limit. Hike in
Credit limit is just means giving yourself
the opportunity to spend beyond your
means, correct? Not necessarily . Increasing
your credit limit can have some ways if you
manage your credit wisely.
6. 5 Ways to Boost your Credit Score
4.Avoid opening of too many accounts in a
short interval of time :
Opening of too many new account over a
short interval of time it shows your credit
hungry behavior and affects your credit
rating, so be careful…!! Credit hungry
behavior is a big obstacle to improve
CIBIL Score. CIBIL scores also checks
how many new accounts you are using.
7. 5 Ways to Boost your Credit Score
5. Amount Owed :
It is most important factor affects your
credit score .If you have owed money from
anyone, pay all your debt as soon as
possible to maintain your credit score.
8. Conclusion
If you don't want to go through the
traditional attempt of fixing errors
yourself, you can also hire a Cibil
consultant to boost credit score on your
behalf.