Financial Planning : Boost Your Credit Score Within a Month With These 7 Simple Tricks
In this article we will talk about 7 simple ways to improve your credit score in India,

Your CIBIL rating is a crucial aspect of your credit history depending on your CIBIL report. A CIBIL score below 750 can be a curse for people who need a personal loan right away. However, this rating is only a number and can be raised.
In this article we will talk about 7 simple ways to improve your credit score in India,
1. Set Reminders for Timely Repayment
Skipping payments on your unpaid debt can be a serious mistake because it can negatively affect your credit score. Whenever it comes to making EMI payments, you must pay them on time. In addition to paying penalties if the EMIs are late, your credit score would also suffer. Set reminders to pay on time if you have trouble remembering dates.
2. Verify the accuracy of your credit report.
Although you may believe that your credit history is good, there could be a number of undiscovered faults lowering your credit score. Consider the scenario where you have fully paid off your debt and closed it on your end, but due to a clerical error, it is still showing as current due. You must also keep an eye out for additional mistakes and odd behaviour. If you fix these mistakes, your score will increase right away.
3. Maintain a balanced credit mix by all means.
It is generally ideal to have a healthy balance between secured loans, such as an auto loan or mortgage, and unsecured loans, like credit cards and personal loans. Lenders favour borrowers with more secured loans, and credit reporting agencies likewise favour those borrowers with high credit scores. Paying in advance your unsecured loans can help you keep a healthy balance if you have more of them than secured ones.
4. Clear off all the dues
Eliminating all of your credit card debt demonstrates the kind of behaviour that lenders look for in borrowers. Plan ahead to pay off your credit card amounts in full before the due date to enhance your credit score.
5. Avoid taking out several loans at once.
To avoid having your credit score decline, it is a good idea to pay off the present loan before applying for another one. Taking out several loans at once suggests that you might not have enough money to pay them all off. To improve your credit score, it is preferable to take out and repay one loan at a time.
6. Reduce the amount of credit you use.
Avoid using your credit card to the absolute maximum in order to raise your credit score. It is recommended to keep the CUR low, ideally under 30%. If, for example, your credit limit is Rs. 1,000,000 per month, you should strive to limit the use of your credit card to no more than Rs. 30,000 each month. Your credit score might not be affected if you keep your credit utilisation ratio between 60 and 70%, but if you frequently use all of the available credit on your card or keep it above 90%, your score might suffer.
7. Your credit limit should be raised
Never refuse a request from your bank to raise your card’s credit limit; you can also make this request. It does not imply that you will increase your monthly spending, but rather that you will need to manage your money wisely. The easy approach to improving your score is to obtain lot more credit and keep your utilisation low.