Your credit score (CIBIL score in India) affects your ability to get loans, credit cards, and even rental agreements. A good score can save you lakhs in lower interest rates.
How to Improve Your Score
- Always pay credit card bills on or before the due date
- Keep credit utilization below 30% of your credit limit
- Maintain a mix of secured (home loan) and unsecured (credit card) credit
- Check your credit report annually for errors and dispute them
- Avoid applying for multiple credit cards or loans in a short period
What is a Good Score
A CIBIL score above 750 is considered excellent, 700-750 is good, 650-700 is fair, and below 650 needs significant improvement. Most banks prefer scores above 750 for the best rates.
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