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3 Ways to increase credit score without credit card?

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3 Ways to increase cibil score without credit card

Here are few tips to improve your credit score even through you don’t have credit card

How can credit score improve immediately?

A poor credit score will increase your financial problems and make it harder to get credit for a loan or credit card. The good news is that you can improve your score – you should not worry about the problem and begin to take immediate concrete actions to improve your score.

Here are some tips that have a positive effect on your score:

Getting your credit report and check for errors: You might think that you have a good credit history, which means that your score may be unnecessarily truncated by some reporting errors. For example, if you have paid your loan completely and closed the account, it will still be displayed due to an administrative error. By correcting these deficiencies, you can immediately stop the negative impact on your score.

Similarly, it is also useful to check if any suspicious activity (eg, the loan you have taken) may be fraud. If you have filed a dispute with the bureau and it is resolved it will have an immediate positive impact on your score.

Do not delay or pay the payments: Your payment behavior is a very important factor in calculating your credit scores. Your track record of credit can earn almost one-third of your score. Payment for the same end also affects your credit score negatively. Most people have paid their bills late or totally paid out. If you have all your bills timed out and done, immediate effect on your credit scores.

You must aim to make your payments at least 5 business days prior to the due date. If you are planning to pay through checking, you must make sure you have a payment 10 days before the due date.

Improve your credit score with home loan: Always make sure to pay your home loan emi’s on time , If you have any loans that have already taken in period of 2016 or before check for the options were you can decrease their interest rates ( Read these helpful articles on Home Loan Balance Transfer) so that it can further reduce your home loan burden.

Improve your credit score with personal loans: Personal loans are usually opted when there is a immediate need of money i.e if you want money for health check up, travelling or any other purpose, So be cautious while taking these personal loans because usually personal loans are given at higher interest rates, So choose the amount that is necessary for you.

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