Your CIBIL score (Credit Information Bureau (India) Limited) is a critical factor when it comes to securing loans, credit cards, and other financial services. A higher CIBIL score reflects good creditworthiness, while a lower score may lead to difficulties in obtaining credit at favorable terms. Fortunately, improving your CIBIL score is possible through consistent financial practices and prudent management of credit. Below are some strategies and tips on how to improve your CIBIL score.

• Check Your CIBIL Report Regularly: Monitor for errors or discrepancies and dispute them with CIBIL or the lender.
• Make Timely Payments: Pay credit cards, loans, and bills on time to avoid penalties and negative impact on your score.
• Keep Credit Card Utilization Low: Maintain utilization below 30% of your credit limit to avoid harming your score.
• Clear Outstanding Debts: Pay off loans and credit card balances, prioritizing high-interest debt.
• Maintain a Healthy Credit Mix: Have a variety of credit types (credit cards, loans) to show responsible management.
• Avoid Multiple Credit Applications: Too many applications can lower your score due to frequent hard inquiries.
• Use Secured Credit Cards: If you have a low score, use a secured card to rebuild your credit with responsible use.
• Keep Old Accounts Open: Long credit history helps boost your score. Avoid closing old, well-maintained accounts.