How to increase my credit score

First, review your credit reports (free from the link below) for any inaccuracies.

 

https://www.annualcreditreport.com/index.action

 

The following sites have information on improving/maintaining your score.

 

https://www.consumer.ftc.gov/articles/0152-credit-scores#improve

 

https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-and-keep-a-good-credit-score-en-318/

To improve your score

• Never utilize more than50-60 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.
• Make sure you keep an track of all your daily spends. You can you cloud based quickbooks as one of the tools
• Never try to run away from your loans. Settle them as soon as possible in a friendly way with your banker.

 

Regards,

Adrian