How to Increase CIBIL Score from 500 to 750

I was personally affected by the difficulties of having a poor CIBIL score, so I set out to raise my financial situation. This entailed becoming aware of the elements influencing my credit score, altering my spending patterns, and taking a disciplined approach to managing my credit. I was able to improve my CIBIL score from 500 to 750 by being persistent and determined. Let me share how to increase CIBIL score from 500 to 750.

How to improve CIBIL score from 500 to 750?

• Regularly checked my CIBIL report:

I asked for a copy of my CIBIL report to acquire a thorough understanding of my credit history. Checked the report for inaccuracies or discrepancies, then raised disagreements for adjustments right away.

• Established specific financial goals:

Set up clear, attainable financial objectives, such as paying off debts and controlling credit usage.

• Paid bills promptly:

Ensured prompt payment of all bills, including utility bills, EMIs, and credit card balances. To avoid missing deadlines, set up automated payments or reminders.

• Diminish the credit utilisation rate:

I aimed to pay off my credit card balances in full each month in order to keep my credit utilisation around 30%. I only applied for a few new credit cards to avoid potential lenders thinking I was credit-hungry.

• Giving Outstanding Debts Priority:

Centered on repaying loans with outstanding balances and debts with high-interest rates. I also used tactics like debt consolidation to make payments easier.

• Not applying for numerous loan applications:

I didn't apply for more loans than I really needed to in order to avoid having too many hard inquiries lower my credit score.

• Keep a balanced mix of credit:

Exhibited good credit behaviour by maintaining a mix of secured and unsecured credit, such as credit cards and personal loans.

• Consult a professional

I also consulted with financial consultants to get advice on how to handle credit more effectively.

I had to be persistent and disciplined to raise my CIBIL score from 500 to 750, but the outcome was well worth the effort. I was able to successfully enhance my creditworthiness by sticking to these procedures on how to increase CIBIL score from 500 to 750. This opened up new financial options and secured a brighter future for me.

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