Tips to Improve Your CIBIL Score

A good CIBIL score can help you in achieving many of your life goals with ease. Whether its that dream house that you have been planning or the dream vacation, you have been coveting, access to credit can ease the process substantially. A bad CIBIL score on the other hand can make access to credit very difficult. But there are ways in which you can improve your CIBIL score and achieve your goals.

Some of the ways in which you can improve your score are

Pay EMIs on time

The cardinal rule of good credit history is to maintain your payments in time. This factor plays a crucial role in your score and any delayed payments adversely affect your score. Make sure that your bank account is funded well in advance of the EMI due date, so that there are no bounces and unnecessary penalties due to the bounces.

Using your credit limit

Use your credit limit on your credit card prudently, because over utilisation or maxing out your credit card month on month can affect your credit score. Also not paying your outstanding due amount every month and just paying the minimum amount due monthly can affect your score. For example, if your credit limit on your card is Rs. 50,000 then make sure your are not spending more than 50% of the same ie not more than Rs. 25,000 on your credit card.

Credit Hungry Behavior

Any credit hungry behavior ie applying for too many credit cards or loans within a short span of time can affect your score adversely. Plan your credit requirements in advance. If you are planning to buy a house, make sure that you don’t apply for any other types of credit like personal loan or car loan in the preceding 3 months, so that getting an approval for your home loan is easier and smoother and your eligibility is higher. Too many enquiries in your credit report is a sure way to get your loan application rejected by lenders.

Check your credit report periodically

It is a good practice to check your credit report periodically. Check for details like loan closure etc are updated correctly. Some banks fail to update the bureau in which case it might show erroneously on your report thereby reflecting on your score. Get issues like this sorted by raising the issue with the bank and bureau and sorting it out immediately. Sometimes, loans and credit cards which you have never taken might also reflect in your credit report, in which case, it is best to highlight the issue to the bureau and get it resolved so that it doesn’t impact your score negatively.

CIBIL score of 700+ is usually considered good enough for getting your loan application approved. Follow some of these rules and you can see a positive impact on your score within a few months.

Benefits of a Credit Card

Every bank is people friendly, and they have a variety of credit cards to assist people in case of emergencies or untoward situations. You can select any card suitable to your lifestyle and their customer-friendly executives are always at your beck-and-call for assistance. All the cards have cash back schemes, reward points and offers any time of the year. Having a credit card offers you the convenience of making one payment compared to paying cash for various services.


Yes, selecting the best card is a challenging task, but not an impossible one. If your job involves going on tours, a travel card offering discounts on hotel bookings and flight tickets will be the best option. Also, you have the option of paying by this card instead of paying by cash in a foreign land. If you are one who shops regularly, a card offering discounts on popular labels, electronics at suitable outlets will be the best option.

In an unforeseen-emergency, you can make the payment, but can have the big amount changed to EMIs. Repayment is mandatory, however, you can schedule the payment as per your convenience after going through the guidelines.

Some of the card fans opine the monthly c.statement to a diary where you do not have to note the purchase items. An option is also available where the purchases can be easily sorted.

Making regular payments on your dues automatically rewards you with a good credit score. A wonderful track record will always assist you in securing a loan.

Forget the past of standing in long queues at a bank; you can apply for your favourite credit card in the comfort of your home or office. Make a visit to the website, browse the required column and select your favourite card. The personal details have to be filled as required and then click the “Apply” option. The next step is to keep ready the copies of Identity proof, Income proof and address proof for the verification process.


Handling expenses is difficult, but more challenging is the task of paying bills. The world is in your fingertips provided you know how to handle technical gadgets and have a credit card. You do not have to step out of your home to pay bills of any category, be it electricity, mobile recharge and other requirements.

Live hassle free and avail of the Mobile Bill Pay option of the Bank. Ensure you do the right clicks, update correct information and the bill. You have done your part to Mother Nature by saving paper and making the best use of your time.


The internet has given rise to cyber criminals who make use of every opportunity to swindle money at your cost. However, all the credit cards are safely protected as they have an EMV chip (also protected by PIN) by which every transaction is made secure. The chip cuts down drastically any possibilities of skimming and counterfeit fraud transactions.

You can use the card to access airport lounges (for a nominal fee), shop online for clothes, gadgets, book tickets of your favourite shows etc. Similar to every credit card, you will receive an SMS instantly after a transaction to the mobile number registered in the directory.

You can also withdraw cash at any ATMs in the world (however, you have to inform the bank for some credit cards about going to a foreign country). Fees will be applicable as per the guidelines. Payment by card just got better with these points.

• Booking by credit card gives you discounts on movie tickets and outside dining.
• Depending on the card, you will get refunds for fuel surcharges.
• Family members of primary card holders do not have to pay fees for becoming an add-on member.
• Joining fees may be waived if you make a purchase of a particular amount or above using the card.


You should have attained the age of 18 years or older

You should maintain a minimum amount as per the requirements of the credit card
If you are applying for a credit card the first time, you have to provide proof of your income, address. In case you already have an account, your KYC information will be checked once again for authenticity.