Maintaining a good credit score has become very important in today’s times, as it determines how much loan you should get from the bank. Along with this, the credit score also plays an important role in the approval of your loan application.
If you have a bad credit score, you may not get the loan, as a bad credit score means that there may be doubts about the loan repayment taken by you. Now the question arises that what should be the credit score so that you do not face any problem in getting the loan? According to the credit score organization CIBIL, the credit score can be between 300-900. Those who have a credit score of 750 or above will never face any problem in getting a loan. They can get loan quickly and easily.
Let us know what are the important things to keep in mind to improve credit score?Â
Don’t forget the last dateÂ
If you are paying the monthly installment of the house or car, then do not forget the last date at all. Also, remember the last date for payment of your credit card bills, as delays can damage your credit score. So pay the installments and bills on time, which will help in improving your credit score.
Do not increase the card limit repeatedlyÂ
Sometimes it happens that in a month there is more expenditure, in such a situation many people get their credit card limit increased. You should not do this at all, but it would be better to control your spending, because in the end you have to pay the bill. This will also affect your credit score.
Finish the loan on timeÂ
Settlement of your old loan increases the risk of the lender, while timely repayment of the loan increases your credit score. So always try to finish the loan on time. This makes it easier to take a loan even further.
