Credit Information Bureau (India) Limited (CIBIL) , which collects your credit information from banks will soon be keeping your credit scores on the basis of your bill payments too. CIBIL scores will range between 300 and 900, and a number of the above aspects will go into making that score. However, the most significant of these are repayment of loans and credit cards ¡V these factors will determine your loan eligibility and whether a loan can be granted to you in the first place or not.

Considering the important role your credit report plays in your financial life especially with relevance to loan borrowing and establishing credit worth, it¡¦s time you put some thought into how best you can make your credit report work to your advantage.

Here are list of things you keep your credit score up and above any kind of default:
1. Ensure you get your own copy of the credit report, at least on an annual basis
- Subject your credit report to a thorough scrutiny.
ƒ{- If you have nagging questions about any data, follow it up with CIBIL or the credit agency who has collated the data on the credit report.
ƒ{- Any discrepancies or pending defaults that has already been cleared must be immediately corrected or updated to ensure your credit score is not affected.

2. How do you correct discrepancies?
- Take up the issue with the bank in question first. For instance, if a debt has already been paid off and but the report doesn¡¦t show so. Call the bank and ask them to update with immediate effect.
ƒ{- The bank will then update the credit agency regarding the status and all is well. This approach is less time consuming and far better than directly contacting the credit agency. Punjabi Movie Jihne mera dil lutiya

What if the bank does not oblige to make the changes¡K
- Take up the matter with the credit agency and the banking ombudsman. However, first, wait for a period of 1 month for your bank to take corrective action.
- Act quickly and follow up with the concerned credit agency and the bank. Keep a record of when you have filed a complaint or sought clarification.

3. Put a priority check for your bill payments
Whether they are loans, credit card payments or insurance premiums -- every payment counts. If you need to be reminded about your payment, set up an automated system with your bank to get it cleared within the due date. It is a sure shot way to improve your credit score.

4. Try using your credit cards the smart way
Use your credit card! It serves as an excellent tool to boost a good credit score if utilised properly. However, the trick is to avoid making late payments. Things like not stretching it too close to your credit limit, regular use of the card but timely payments upfront is proof of how you manage credit lent in the short-term.

5. Net worth is key
Your credit report is based on the flow of credit and debt. Here, the ratio between these two factors is directly related to your credit score average. For instance, if you have several outstanding debts, and even if you pay them on time it would still affect your credit score.

Hence try and pay off as much debt as possible and keep them to a minimum before taking a fresh debt or loan.