Pay Bills on Time: Make timely payments for credit card bills, loans, and EMIs to establish a positive payment history.
Reduce Credit Utilization: Keep your credit card balances low, ideally below 30% of the credit limit, to lower credit utilization.
Monitor Credit Report: Regularly check your credit report for errors or discrepancies and report them to the credit bureau.
Clear Outstanding Dues: Settle any overdue payments or outstanding debts to improve your creditworthiness and score.
Maintain Credit Accounts: Keep your old credit accounts active to demonstrate a longer credit history and responsible credit behavior.
Avoid Multiple Credit Applications: Limit applying for new credit cards or loans within a short period to prevent negative impact on your score.
Diversify Credit Mix: Maintain a healthy mix of credit types, such as credit cards, loans, and a mortgage, to boost your score.
Limit Credit Requests: Avoid unnecessary inquiries by lenders as multiple credit inquiries can lower your CIBIL score.
Use Credit Responsibly: Demonstrate responsible credit usage by paying bills in full, avoiding defaults, and not maxing out credit limits.
Seek Professional Guidance: Consult financial advisors or credit counselors for personalized advice on improving your CIBIL score.
Remember, improving your CIBIL score takes time and consistent effort. By following these steps, you can positively impact your score within 6 months.