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How a financial advisor helps to increase your CIBIL score
by Finway FSC Empowering People FinanciallyIf you live in Delhi and instant
cash loan is your urgent need, then roaming here and there will not help you
any more, you must visit a financial
advisor to avail quick loans of your choice. Bad financials
decisions and failure of payment of credit card bills and loan EMIs leave a
dent on your CIBIL score. At a time when getting a loan becomes the only way
out, your CIBIL score plays a vital role. As per the Reserve Bank of India
guidelines, a bank needs to verify a person’s CIBIL score before sanctioning
him/her a loan. So, it becomes necessary for a person to take right steps to
become a creditworthy person. Here are a few steps that can be effective in
improving your CIBIL score.
Scoring Pattern: The first step towards improving your CIBIL score must
be to understand the scoring pattern. So, what is a CIBIL score? I t is the database
of all the credit card and loan payments. This database helps in analyzing a
person’s financial behavior. It shows if he/she is regular in making his/her
due payments. A person’s CIBIL score ranges from 300-900 with 300 being the
lowest score and 900 being the highest score. It will be a really easy task for
a person with a score of 900 to get a loan or a credit card issued under
his/her name. And, no other than an expert financial advisor can educate and
guide you completely about the perfect CIBIL score.
Keep a regular check on credit card payments: Failure of
Credit Card payments leaves a dent on the CIBIL score. So, if one is looking
for instant cash loans, then
he/she always keep a check on payment due dates. If a payment is made before
the due date regularly, then it can be a key to improving your CIBIL score. One
must also keep a check on credit report as errors in the report may
unnecessarily drag your CIBIL score down even after the person is regular in
making the payments before the due date. If a person finds any error, he must
make an appeal on the CIBIL website and should consult the same with an expert
investment advisor.
Monthly Installments: Repayment of every month installments is an
important factor in the calculating of your CIBIL score. A person’s CIBIL score
will never be reflected low if he/she is prompt in making repayments of credit
card and loan EMIs. So, making regular repayments before the due dates can help
you in improving your CIBIL score. A person having savings with a good
repayment record of credit card bills and loans enhances the rating.
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About Finway FSC 
Empowering People Financially
24 connections, 0 recommendations, 99 honor points.Joined APSense since, September 25th, 2018, From New Delhi, India.
Created on Oct 16th 2018 05:16. Viewed 543 times.
