How to Increase CIBIL Score - 10 Smart Tips

 Here are 10 smart tips to increase your CIBIL score:

  1. Pay your bills on time: Late payments can have a negative impact on your credit score, so make sure to pay all your bills on time.
  2. Monitor your credit utilization: Your credit utilization ratio is the amount of credit you use compared to your credit limit. Aim to keep your credit utilization below 30% to maintain a good credit score.
  3. Maintain a healthy credit mix: Having a mix of credit types such as credit cards, loans, and mortgages can positively impact your credit score.
  4. Avoid opening too many credit accounts at once: Opening multiple accounts in a short period of time can negatively impact your credit score.
  5. Check your credit report regularly: Review your credit report at least once a year to ensure all information is accurate and up to date.
  6. Keep old credit accounts open: The length of your credit history can positively impact your credit score, so keep your old credit accounts open.
  7. Settle outstanding debts: Pay off your outstanding debts and avoid defaulting on loans or credit card bills.
  8. Use credit responsibly: Use your credit only when necessary and avoid overspending.
  9. Keep your contact information up to date: Make sure your address, phone number, and email address are up to date with all lenders and financial institutions.
  10. Seek professional help: If you are struggling with debt or managing your finances, consider seeking professional help from a financial planner or credit counselor.