A credit score is an essential factor when it comes to getting a loan from a financial institution. Here are all the easy steps by which you need to improve your credit score: Pay your bills on time It is very important for you to pay your bills on time. If you are paying your bills by credit card or loan repayment, you need to make the bill payment by the due date. It is very important to maintain a clean track record of payments as they constitute 25% of the credit score. Do not keep any outstanding or overdue payments It is important that you need to play the complete amount without keeping any overdue or outstanding. You should not keep any pending amount on your bill, as that may damage your credit score. Know How to Calculate Business Loan EMI Online. Do not apply for more than one loan It is very important that you restrict multiple loan applications within a short span of time. You need to stop applying for multiple loans after getting a rejection from the loan provider. Every time you apply for a loan, the hard-end query run on your credit profile will damage your score. Keep a well-balanced credit mix The credit mix should be balanced with both an unsecured and secured form of a loan. You cannot take any loan that is saturated with only secured or unsecured loans. The balance of trade makes me a credit profile, which will always help with improving your credit score. Keep your credit account open Credit accounts are always active and impact your credit score. If you have a credit card or a loan with a long credit history, you need to keep the account active. It will be important for you to manage your credit score with the help of credit accounts that are active, even if you do not use them. Keep the credit utilisation ratio below 30%. The credit utilisation ratio is the ratio between the total credit limit given to the individual and the credit limit that has been exhausted. If you exceed the credit limit, you will not have a good credit score. Your credit utilisation ratio should be below 30%. Must Read : Build A Positive Credit Profile With Good Credit Habits Wrapping up How to check credit score? Visit Clix Capital to get the option of "my credit score" and you will be able to check your credit score.
0 Comments
Leave a Reply. |
Ajay Singh
Looking to apply for a personal loan but don’t know what is your credit score? Don’t worry as now you can check credit score for free at Clix Capital. Just enter a few details about yourself like your name, mobile number, email, pin code, etc. and get the most accurate credit score with a matter of seconds. |