The credit score or CIBIL score has become very important today. The credit score shows how your record is in financial matters. He tells how he has taken loans from banks and repaid them. Whether or not the payment is made on time determines your CIBIL score or credit rating.
The loan or any other EMI and credit card fees must be paid on time. If you keep up this habit, your credit score will improve. There should be no negligence in this.
Avoid using the full credit card limit. This affects your credit score. The credit utilization ratio (CUR) has a big impact on the credit score. Your credit utilization ratio depends on how much you use your credit card. Generally, credit card companies consider a credit utilization ratio above 30 percent a sign of debt.
Keep checking your regular credit score. By having regular information about your credit score, you will be able to improve it over time. The credit score provides information about whether you have any other loans on you or whether you have made any mistakes in repaying the loan.
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Tags: Business News, business news in hindi, Credit card, credit card limit, tips and tricks
FIRST POSTED: Feb 19, 2023 16:57 IST
