The better your Credit Bureau Score the better your chances of getting a loan. With the advent of digital lending, there are options now for borrowers to get easy, quick and hassle free loans without worrying about Credit Bureau Score at all. Any digital lending will however look at your credit history to make an analysis of how responsible you are in paying off your repayments and the steps you take in ensuring you remain out of debt.
Here are 5 ways to improve your Credit bureau score
- Make all loan repayments on time before the EMI deadline date
- Always have some spare cash or daily balance in your account to avoid a bounced EMI
- In case of a default, approach the lender and pay off the amount immediately.
Credit Card Payments
- Stay out of Credit card debt, it’s an expensive way to ruin your Credit Score
- Ensure bill payments are done before EMI payment deadlines
Credit Bureau Score Report Errors
- Although very unlikely, there are chances that the report might have some inaccuracies
- Check if the lenders have sent a correct repayment history to credit score bureau
- Raise a dispute with the credit bureau if you find any data discrepancies.
Increase Credit Utilization
- Use it as a last resort in case of unplanned expenses
- Check with the bank or credit card company for an enhanced credit limit
- Do not use an increased limit to spend unnecessarily
- Start budgeting so as to curb spending
Be wise while spending
- Always keep a check on your credit utilization
- Avoid using your credit card for all payments