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Thread: What to do to build the CIBIL Score?

  1. #1
    PolicyWala Newbie
    Join Date
    Mar 2009
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    Question What to do to build the CIBIL Score?

    A couple of months back, a colleague went to our salary account bank to apply for a personal loan. He was rejected. The reason he was given astounded me - that you have not taken any loans/Credit Card's in the past & hence your Cibil score is low - so, you are not eligible for a loan.

    What to do to build the CIBIL Score?



  2. #2
    Moderator Matrix's Avatar
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    Default

    First thing is to check your CIBIL Credit Report and find out whether all your details are correct.

  3. #3
    Moderator Rahul's Avatar
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    |Jargon Buster|Before you post, please read the FAQ and the sticky posts on the board you wish to use.|Blog|

  4. #4
    NewBie
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    Default

    Yes, To build your credit score take credit card from any bank, make payments regularly so that you can build good credit score

  5. #5
    Banned
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    Never default your credit card bills or loan EMI. Pay them without fail and within a specified period.

  6. #6
    PW Fan
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    Jul 2019
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    Hyderabad
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    There are some points to be considered for cibil score to increase.By following these simple rules your cibil score will be increased gradually.
    1)Pay your bills on time
    2)Review your credit report
    3)Pay down your card balances
    4)Use Credit
    You must use credit regularly for creditors to update your credit report with current, accurate information. While paying with cash or a debit card may make it easier to keep to a budget, a cash-only lifestyle does very little to improve your credit score.
    5)Monitor your report
    6)When You're shopping for a loan, do it quickly.


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