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.
You can check out your pre-approved loan deals by sharing your basic details such as your name and mobile number.