new Delhi: Despite the low interest rate due to Corona, people are not able to apply for loan. In fact, a large population is suffering from poor CIBIL score due to financial irregularities. Due to which people have faced difficulty in getting loan approval. If you still do not understand, then let me tell you that credit score is not only your loan approval but also your interest RATE and loan amount. Disides also. That is, we can say that your financial health and your credit score are directly related. According to the credit score agency CIBIL, people who have a cibil score of 750 or more can get a loan quickly and easily. But many times, even if you do not want some bad steps, your cibil score gets spoiled and in such a situation you may face difficulties in getting loan.
Now the question arises as to what are the ways to improve the deteriorated CIBIL score and how it can be rectified. If you are also troubled by a bad credit score, then read this article because today we are telling you how to fix CIBIL score.
- First find out why the CIBIL score is affected. So that you can know what is the reason behind your score.
Do not delay in depositing your credit card bill. Also do not forget the last date of EMI of home or car. Because of these delays, your credit score also deteriorates.
Many people increase their credit card limit after spending more in one or two months, but it is not right to do so. Instead, control your spending.
- There is also a mention in your credit history that you have repaid or settled old loans. So try to finish your loan and not settle.
- If you feel that you do not use a credit card, then you will get a loan easily, then it is your misconception because your credit history does not mean that the lender does not know that you are placed in a low risk category. Or at greater risk. Therefore, use a credit card and pay the time bill.