Your creditworthiness and ability to get loans and credit cards are greatly influenced by your CIBIL score. Low credit scores might make it more difficult for you to get credit approved and lead to higher interest rates. Here are some suggestions to help you become more creditworthy if you’re hoping to raise your CIBIL score from 700 to 750.
1. Review your credit report Checking your credit report is the first step to raising your CIBIL score. Search for any mistakes or inaccuracies that can be harming your score. Report any mistakes you come across to the credit bureau right away so they can be fixed.
Your payment history is one of the most significant variables that affects your CIBIL score. Your credit score may suffer significantly as a result of late payments. To strengthen your creditworthiness, make sure to pay all of your payments on time each month.
The amount of credit you are utilizing in relation to the credit you have available is known as your credit usage ratio. Maintaining a low credit use percentage can raise your CIBIL score. Try to use no more than 30 percent of your credit line.
4. Make sparing use of credit applications Your CIBIL score may be impacted negatively each time you apply for credit. Try to just submit applications that you actually need. Applying for too much credit can give the impression that you’re in a credit crunch, which may raise an alarm for lenders.
1. HDFC Bank Moneyback Credit Card
2. ICICI Bank Instant Platinum Credit Card
3. Axis Bank Insta Easy Credit Card
4. Citibank Rewards Domestic Credit Card
5. Standard Chartered Manhattan Platinum Credit Card
The YES First Exclusive Credit Card, YES First Preferred Credit Card, YES Prosperity Rewards Plus Credit Card, and YES Prosperity Edge Credit Card are just a few of the credit cards that YES Bank offers. These credit cards provide a number of advantages, such as access to airport lounges, cashback, and reward points.
Your income, trustworthiness, and credit history are just a few of the variables that affect the credit limit for an SBI credit card. When setting your credit limit, SBI may also take into account any prior interactions you may have had with the bank.
You must have a solid credit history and consistent income in order to qualify for a credit limit of at least $40,000. Additionally, the bank to which you are applying may require that you have a solid credit history. There is no assurance that you will be authorized for a given credit limit, so it’s vital to keep in mind that it can vary depending on a number of criteria.