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5 Quick Ways to Maintain Your Credit Score

· cibil score

The most important criteria for loan eligibility is a good credit score. It is always better to maintain a high credit score even if you do not want to avail a loan. This can help you in getting a loan in an emergency when you do not have time to boost your score. Read on to know how you can manage your credit score.

1.Review your credit report

You should check your cibil score regularly to know about your credit score. Your credit report will help you in determining the reasons behind a low credit score. It would also help you in detecting errors that can drop your credit score.

2.Pay your bills on time

Delay in making bill payments harms your credit score. You should always make sure that you do not miss a payment or make a delayed one.

3.Never reach your credit card limit

The credit card limit is another factor that affects your credit score. Reaching your credit card limit quite often is not good for your credit score.

4.Manage your debt

Managing your debt is important for managing your credit score. Debts are of many types and have a different impact on credit score. You should try to reduce your debts and avail a credit that has the least influence on your score.

5.Limit your credit applications

Every time you make an application, your credit score is being inquired. Making too many credit card/loan applications shows that you are a credit hungry borrower. So you should apply for credit only when you need it.

Now that you know the tips to maintain your high credit score, it is easy for you to manage and improve it.

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