1. It pays to have a good credit score

A high score can get you better loans, however a low CIBIL score can be terrifying for those individuals who have an urgent need for money. they can affect their borrowing adversely.

There are many ways to get loans, the criteria of which is totally grounded on the size of the loan, that is the amount required by the borrower.

today all banks are compulsorily required to verify the CIBIL score of applicants of all financial products of credit, namely  Personal Loans, Credit Cards etc. Even though at times the individuals may have a low CIBIL score, there are ways to improve CIBIL score.

2. Set Reminders for Payment and Be Disciplined with Credit.

Pay your dues on time: Missed an EMI? Delayed your Credit Card payment? Then get organised-

You should set reminders for your payments and be disciplined with credit. Your settlement of outstanding debt can have a considerable impact on your credit score. Payment delays for EMIs not only force you to pay the penalty but also lower your credit score. So if you are looking to improve your CIBIL score pay your dues on time and rack up a good score. Use a service that lets you automate bill payment so that you don’t have to worry about missing deadlines.

3. Maintain a healthy credit mix:

It is better to have a right combination of secured loans and unsecured loans.of a long and short tenor to build a good credit score. Too many unsecured loans may be viewed negatively.

4. Use Your Credit Card Carefully:

credit card are financial tools lots of people  misapplicate them. While credit cards eliminate the need for you to make the payment when making a purchase, you’ll ultimately be required to pay for it. Thus, it is better to only use a credit card when you actually need to.

Also, try to pay credit card bills in full rather than only making the minimum payment. The balance amount attracts interest which can be considerably high.

5. Remove your Credit card Outstanding Balance-

spend as much amount as you can repay within the billing date. By balances, also mean any unpaid dues on loans and EMIs.

Such unpaid dues or balances on credit cards pull your score down. Paying off this amount will positively reflect on your CIBIL or credit score.

6. Pay EMI on time

Paying emi on time is very important.this is one of the important things that cibil or other credit score looks into while gauging your credit ratings.

Timely payment of EMIs and bills can keep your creditworthiness intact.

7. Avoid taking multiple loans 

Taking multiple loans and carrying multiple credit cards is most often a recipe for financial disaster. It can land you in a serious debt trap and lower your credit score significantly. A great way to improve the CIBIL score is to ensure you do not take on multiple loans at the same time. 

Before you borrow a loan, ensure that you’ve paid off your existing loan. If you already have a credit card, try to not get another one as it makes you lose track of your spending and repayment can get extremely difficult if you end up spending more than you earn. Another reason to not get multiple loans is that it shows your lender that you may not have sufficient funds to repay all of them. 

However, if you have only one loan to repay, the lender can feel confident in giving you the loan and your credit scores will also remain unaffected.