How to improve and maintain your credit score

A credit score depends upon your financial reports, which is a summary of the credit history. While a score that is at least 750 helps you get a loan on your favorable terms, you can easily remedy a score that is less than ideal. Focus on all the factors that can improve your credit score and take conscious measures to improve it. If you maintain the measures and conduct a free credit score check with the time you will surely end up having a good credit score. 

Improve your credit score by the following measures

• Pay bills on time: Paying your credit card and debt repayment bills on time is not an option, rather a responsibility. If you are a person bad with dates, then you can automate your payment from your financial accounts. The monthly collections are necessary and you need to make the bill payments on time without fail.

• Use a single credit card: Do not tempt yourself to go for multiple credit cards. It is not a responsible act to make expensive purchases on credit. Sticking on a single credit card can make your payment easy and give you less debt burden.

• Borrow amount which you can repay: Do your transactions responsibly, which means borrow what you can payback. Going for large expenses and not being able to pay back will hamper your credit score and you will not be liable for loan in the future.

• Consolidate your debt: If you are having small multiple loans, then you must consolidate it with a big loan amount and pay only one installment. This way you can easily track your payment and improve your credit score. 

Must Read : Apply online for instant personal loan in delhi

• Do not keep outstanding: Do not keep any outstanding and pay the entire bill amount which is generated on your statements. Leaving back outstanding amounts can hamper the credit score hence; pay the entire outstanding amount every month.

• Keep old accounts open: Do not close your old bank or credit card accounts. Keeping them open will increase the credit age and improve your credit score. Even if you do not use any account or credit card, do not block them immediately.

Read More : Going Beyond the Jargon – Cibil Scores, Credit Scores and Report

A credit score is a very important key that represents your financial responsibility. To go ahead with loan ad future purchases, make sure you follow the measures and attempt a free credit score check online.