Tips to improve your CIBIL score!

The Credit Information Bureau (India) Limited (CIBIL) is the most popular of the four credit information companies licensed by Reserve Bank of India.

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It is a three-digit numeric summary of your credit history. A CIR is an individual's credit payment history across loan types and credit institutions over a period of time.

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Checking your Credit Reports regularly is a good idea because it will tell you two things that are absolutely critical to your credit score.

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Make sure that you do not use your credit card for all transactions. Try and keep your credit utilisation ratio at 30% or less.

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If there are loans which you have been delaying the payments of then you should make it your priority to start becoming prompt with the payment.

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You should dispute all errors immediately by visiting the official website, www.CIBIL.com Once you review your report, you can determine the transaction that you disagree with or identify the error.

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Keep the borrowing to a minimum, if you are applying for too many loans or are always near the limit of your credit card then your score is likely to come down.

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