How To Maintain A Good Credit Score?
Your credit score can affect the quality of your life. It’ll be very hard for you to take out any kind of loans if you have a bad credit score. This can also become the reason why you’ll have a hard time looking for a job or securing a house lease. You can avoid experiencing any of these inconveniences by maintaining a good credit score.
To improve your score
- Never utilize more than 50-60 percent of your credit cards limit.
- Never default your Credit card bills or loan EMI. Pay them without fail and within a specified period.
- Don’t try to overburden yourself with the too many loans. If your credit score is good, then banks are ready to sanction more loan than what you asked for. In such cases limit yourself for needed amount.
- Avoid having many unsecured loans and credit cards on a single name.
- Do not forget to collect “No Due Certificate” from your banker after closing the cards accounts or loan.
- Have 6-9 months of a gap while applying for fresh loans.
- Never try to run away from your loans. Settle them as soon as possible in a friendly way with your banker.