Tips to Improve your CIBIL score
- Reduce Credit Utilization: Keep your credit card balances below 30% of the limit. High credit utilization negatively impacts your score.
- Maintain Credit Mix: Having a healthy mix of secured and unsecured loans demonstrates responsible credit management.
- Limit Credit Inquiries: Avoid frequent loan applications, as numerous inquiries can lower your credit score.
- Monitor Your Score: Regularly check your CIBIL score and take necessary steps to rectify any issues.
How to Avail a Personal Loan Despite a Low CIBIL Score?
A personal loan can be a helpful tool to manage various financial needs, but a low CIBIL score might make getting one seem challenging. However, fret not! Here are some strategies to increase your chances of securing a personal loan despite a low CIBIL score: