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How to Improve Credit Score Fast ?

Friends often we poor credit score ( Low Credit Score if needed because of) credit card is unable to apply for (Credit Card) or loans (Loan).

And this sometimes happens at a time when we need money very much.

If you too are unable to take a loan or credit card due to your bad credit score, then here I am telling you some useful tips that can help you in rebuilding your credit score.

Not only this, through these you can also improve your credit score quickly. ( Improve Credit Score )

Why is credit score bad?

Often our credit score is bad due to our small mistake or intentionally not making the payment of bank loan or credit card taken earlier on time .

Our financial transactions are monitored by government agencies. And that is why everyone is given a certain score on the basis of his official documents like PAN card which is usually between 300 to 900.

In this, a score of 300 is given as a minimum and a score of 900 is given as a maximum. Whenever we apply for a credit card or loan of any bank, the bank checks our score and gives us the card or loan only if it is correct.

CIBIL has complete information about your credit score in India, and you can also view these reports on the basis of your PAN card.


How to fix bad credit score fast? (How To Improve Credit Score Quickly?)

If you also want to improve your bad credit score quickly, then I tell you some ways which can prove to be very effective for you.

Pay off all your old bills.

If you have not paid any of your old transactions yet, then you may face a lot of trouble in fixing your credit score.

Because the bank will not give you the NOC due to the old dues due to which your name will appear as a defaulter in your credit report.

That is why if you pay your dues and get NOC from the bank, then again this report will not have much effect on your credit score and you can rebuild your credit score again.

If for some reason you are not able to pay the full amount, then even after paying a fixed amount after talking to the bank, your account will be closed and the bank will give you NOC for future.

But here your credit score will decrease a bit, which you can improve later.

Close unused credit cards and accounts.

Usually we do not use all our credit cards or accounts. There can be many reasons like less benefits, less discounts, low acceptance, low credit limit or extra charges of the bank. ) to put etc.

If you also have a similar credit card or account that you do not usually use, then it is better that you close it.

Because all the cards you use are like a debt on you which you have to pay on time.

But your debt gets reduced by closing unused credit cards or accounts.

Due to which the amount due to the bank is also less on you and if you want to apply for a loan or card in any other bank if needed in future, then you can do so.

We often think that if you do not use it, it will close automatically, but it does not happen that if you want to close your card or account, then you have to talk to the bank.

Do not apply again and again.

It is often seen that once the application or application is rejected by the bank, we immediately apply to another bank. Due to which it is also mentioned in our credit report.

If your application from one bank is not valid, then before applying again in another bank, check once for what reason your application has been rejected.

Due to repeated applications, our report gives a wrong image in the eyes of the bank. It is like you are deliberately applying again and again, while according to the bank you cannot get the card or loan right now.

Once your application is rejected by any bank, apply again only after at least 6 months. Doing this increases your chances of the application being approved.

Use a secure credit card. (Secured credit card)

If you are applying this loan for the first time but still you are not getting the card or loan.

Or if your application has been rejected by the bank due to your already bad credit score, then you can use the bank's secure credit card.

Using a Secure Card can help you build your credit report or improve your bad score. Because this credit card is on your own deposit, then the bank gives you the same credit limit here.

Making purchases through this card and paying it on time can have a positive impact on your credit report which goes a long way in increasing your credit score effectively.

Credit Repair Agency.

Usually I do not support it, but sometimes it proves to be very useful. These agencies help you increase your credit score by taking some money from you.

But many times, even after paying a lot of money by people, there is not much difference in their credit score.

If you are using any such agency, then do check it once and choose a trustworthy one.

Here I have shared all the tips that can help you in increasing your credit score effectively. But if we gather a little information before spoiling the credit score, then this problem can be stopped before it comes.