Easy tips to improve credit score

by Ajay Singh Financial Advisor

Having a good credit score is extremely crucial. It helps you to borrow and take chances with your debt portfolio from the market. A credit score is a mere three-digit number that speaks everything about your credit and financial health. Any loan provider will check your credit score taking your details, and then decide whether you are liable for taking a loan or not. They check whether you had past debt repayment records, bill payments, and your credit mix to be precise. It all happens in just one score, and when that is low you face rejection. There is a credit score range, where anything above 650 to 900 will give you good opportunities. However, if you are having a 650 low score, it puts you through a tough phase and rejection. Do you happen to have a low score? Trying to overcome that and increase it? If so, take a look at these extremely helpful steps that can get you a good improvement of credit score online.

Pay your bills on time: An improvement in credit score will not be overnight magic. It will take some time and you need to give the time. Start with the first and most important habit that is paying your bills before your due dates. This will slowly help your credit score to rise and you get a better reach. If you are having ongoing debt or credit card bills there will be due dates that you cannot miss. A slight delay in payment can drop a good number of points and it becomes very difficult to increase it. Make sure you automate your payment if you are not good with dates. This way EMI and bill deduction will happen without your notice. Start paying your bills on time and you will have a good score pretty soon. Get instant loan in mumbai now.

Do pay the full bill, not minimum: You will always see in your EMI and credit card bills, there is a term of minimum and full. The minimum bill amount is always a low one and you would love to pay that for that month and move on. However, that is wrong. You need to stop doing that if you are trying to work out your credit score improvement. Paying the minimum amount from your bills will keep an outstanding amount that is pending. This pending amount means not paying the entire bill and harms your credit score. Pay your entire full amount every time so that there is no room for any outstanding.

Manage credit card limits: If you are using all the available limits on your credit card, it will not give you a good credit score. The idea is to leave behind the limit of around 60%, by paying the bills of all the purchases that you have been doing. It will increase your credit health and the credit score also increases with the available credit limits on your credit card. This will give you the best and quick way to adjust your limit and get a positive image from the credit score bureau.

Wrapping up

Check your credit score online and stay updated. You need to know where you stand every time by being updated. Follow these habits if you are focusing on a good score. It takes some time, but the wait is all worth it.