Tips to make your CIBIL score from zero to good numbers!

Have you ever received a message that-your CIBIL score has been changed, please follow the link to check the update on CIBIL??? If yes, and this is the reason you are worried as your credit score is zero… and due to high debt, you are having sleepless nights, then no need to worry anymore…We are here to guide you…Just follow the low-down on how you can improve your credit score from zero to better numbers…

You can change your credit score by following several steps:

• Pay your bills on time and keep a track record
• Pay your repayment of loan  and debt on time
• Check your credit history regularly
• Keep track of your expenses
• Don’t take or apply for a new credit card until and unless it is needed
• Never close unused credit cards without checking all the pros and cons
• Never settle loan or credit card payment with banks. This may lead you to be as a defaulter
• Pay twice a month

How you can start from scratch:

1. Follow the right numbers:

Mainly, a CIBIL score range is between 300 and 900. But, it is important to note-

• The higher the number of credit score and close to 750- 900 will make your CIBIL stronger
• Lower than 300 or between 300 and 650 is not a better score. So, always keep a track on numbers, and check time to time

2. A short term loan can improve your credit score:

It is always a better option to improve your credit score by taking a personal loan.

• If your credit score is zero, then you can go for a personal loan option
• Suppose, you are earning 15000 per month salary and your credit score is zero, then you can apply for a personal loan through any small NBFCs or Fintech companies or Banks
• The duration and amount of repayment varies from one to another
• As soon as you start paying your repayment of the loan, your credit score will also improve from zero accordingly

3. Take advantage of seminars and programs on CIBIL:

• There are many credit bureaus who organize seminars time to time online as well as offline on credit score
• Try to attend those seminars on a regular basis if you are totally blank on improving your credit score
• Take help from an expert, who can suggest you tips to invest and follow the rules of making oneself creditworthy.

4. Set your bad debts to good debt:

• It is very important to understand the difference between the good and the bad debt
• The good debt means the one you invest and pay the money to get the refund time to time
• They are like investments in property, shares, bonds, gold, mutual funds, etc. 
• Education loan also can be counted as good debt, as it gives a worthy return after you start doing a job and earn for your living
• Bad debts are like sleepless nights; they are the ones which you take on high interest and high amount.
• While repaying bad debt amounts one always fails due to lack of ability to pay it on time.
• So, always set your loan amount to certain good debt to get a refund, which you can utilize to pay bad debts

5. Consistency is essential:

The vital and the thumb rule for good CIBIL is consistency in paying the loans

• Try to manage your debts from time to time
• Fix a proper date and time to repay your bills and loan amount
• Try never to miss the payment before the due date

With the right attitude and right intention, one can always have a strong CIBIL. Remember, if you are not able to forfeit all your debt on time, then one can negotiate the outstanding balances with the banks, but rules are there to follow as well. So, keep yourself free from all unwanted expenses and debt to lead a high credit score life from a zero one.

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