CIBIL Score Tips: Can a bad CIBIL score be corrected in 30 days? Know these things before taking a loan..

CIBIL Score: It is very important to have a good CIBIL score to get any kind of loan. If the CIBIL score is good, then you can easily get a loan at a very low interest rate, but, if the CIBIL score is bad, then it may be difficult to get a loan and even if you get it, you may have to pay a higher interest rate. Therefore, having a good CIBIL score (CIBIL Score update) is beneficial for the customer. This question arises in the minds of many people that how much time can a bad CIBIL score be corrected?

What is this CIBIL score -

After taking a loan or credit card from the bank, the CIBIL score is decided based on the history of repayment. If you have paid EMI and loan installments on time, then the CIBIL score remains good. It is a three-digit number between 300 and 900. On this basis, the bank or NBFC decides to give a loan (bank loan news) or credit card to a bank customer.

How to improve CIBIL score in minimum time -

Usually, once the CIBIL score gets spoiled, it takes a long time to improve it. Even if you pay all kinds of bills and loan EMIs on time, it takes about 2 years for the CIBIL score to improve (how to improve the cibil score). But you can also fix it in just 30 days. You just have to adopt these methods.

Create a credit history like this -

If you have never taken any loan from any bank, then it is certain that your CIBIL score will be bad. The reason behind this is that you have never repaid any loan or credit and you do not have a credit history (how to generate cibil score). Therefore, it is necessary to generate it, only then your CIBIL score will be created.

To generate a credit history, you can get a credit card from any bank. Credit cards for working people are easily made (Credit card tips). Use this credit card only by keeping all the important things in mind. Use credit cards up to 30 percent limit and keep paying EMI on time. This will generate your credit history and your CIBIL score will start building up.

Use credit cards only this much -

Use only a 30 percent limit of credit cards and keep paying the installment of any loan on time. If you do this, then you can ask the banks to increase the credit card limit (how to increase the Credit Card Limit). In this situation, the bank can take positive steps and increase your credit card limit.

Choose this credit card -

If you want to improve your CIBIL score quickly, then you can choose cash-backed credit cards. The advantage of this card is that you can make a payment equal to or less than the credit limit of the card at one time. This card gives a bulletproof guarantee for payment. For this reason, it is important to improve the credit score (CIBIL Score Increase) quickly.

Avoid applying for loans repeatedly -

You should also avoid taking too many loans and cards. Apart from this, applying for loans repeatedly also spoils the CIBIL score. Therefore, always avoid taking this step. To improve the CIBIL score, pay the loan EMI (loan EMI rules) and card bills on time. Paying the installment late or after the deadline has a bad effect on the CIBIL score, and extra charges also have to be paid. Always think carefully before deciding to become someone's loan guarantor.

Find out about the CIBIL score.

You need to know about your CIBIL score (CIBIL Score kaise think kre) in many ways. You can find out your CIBIL score (cibil score news) through CIBIL companies Equifax, Highmark and Experian. This will help you know your credit transactions with the bank. If you are delaying it somewhere, you will be able to correct it in time.

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