C. S. Sudheer Review - How to Improve Credit Score

by indian money Financial advisors,Health insurance

Improving credit score can be a challenging task. Learn how you can make it possible.

Pay loan dues in time: As per CS Sudheer Bangalore, the basics don’t change. Repay credit card dues, Home Loan EMIsPersonal Loan EMIs and other EMIs on time. Late EMI payments give you a poor credit score.

Maintain a healthy credit mix: This is a healthy mix of secured and unsecured loans. Secured loans are secured against collateral/assets. Home LoanCar Loan, Two Wheeler Loan, Loan against Property (LAP) and Loan against Security (LAS) are secured loans. According to Indian Money Company Bangalore, these loans charge lower interest compared to unsecured loans.

Unsecured loans like personal loancredit cards have no collateral. Lenders charge a higher interest on these loans. This is why credit mix is very important. Credit mix refers to the type of accounts which make up your credit information report (CIR). If you have availed a number of unsecured loans, credit score goes down.

Check credit report and credit score: You need to check credit information report (CIR), to see if loans reflecting in your name, have really been availed. Data entry errors/typing errors could mean spelling mistakes with name or a loan which you have not availed, reflecting in your name. Your credit score goes down for no fault of yours. Check credit report and credit score for free at Bangalore. If there are any errors in credit information report, file complaints and get them rectified and improve credit score.

Standing guarantor to a loan: With profile of Standing guarantor to a loan or co-signing a loan makes you equally liable for missed payments. Never stand guarantor for a loan unless you’re sure (Friend or Family Member), will make the repayments in time. On a default, the credit score goes down and your profile takes a dent.

Apply for new credit within limits: Don’t just apply for loans and credit cards. As per Indian Money Company, applying for multiple loans/credit cards tells banks you’re hungry for credit. The bank checks your credit information report and credit score called hard enquiry. This results in credit score dropping. You can check credit report and credit score any number of times called soft enquiry. Check free credit score and credit information report at

Get a secured credit card: Avail a secured credit card where fixed deposit is the collateral. You have to open an FD at the bank and apply for secured credit card. Banks offer credit limit on credit card up to 80% of the FD amount. According to Sudheer Indian Money Bangalore, as this is secured against FD, interest rates are lower than normal credit cards. Make timely repayments on secured credit card to build credit score.

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Created on Jan 18th 2019 02:03. Viewed 597 times.


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