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CIBIL Score News: Whenever a person applies for a loan, the first thing that is considered by the banks is the CIBIL score. Those whose CIBIL score is 850 get the loan easily. This is called a highest-level score.

Now this question remains in the minds of many people how can this 850 CIBIL score be (CIBIL Score News), so today in this news we are going to tell you about some such tips, by which you can increase your CIBIL score to more than 850.

Who has a CIBIL score of more than 850?

Those whose CIBIL score is so high, whose credit history is 10-15 years or even older, and who is clean. These are the people, whose none of the payments are late. That is, these users, along with shopping with a credit card, also repay it on time.

Suppose the credit card limit is 1 lakh, then they never allow a bill of more than 10-15 thousand. This is called the Credit Utilization Ratio, and these people always keep it below 15 percent.

How can you increase your CIBIL score?

Such people not only have a credit card or personal loan (unsecured loan), but they also have a home loan or car loan (secured loan). CIBIL likes this mixture very much.

Such people do not apply for a new credit card or loan every 2 months. These people know that their CIBIL score drops a little every time they apply. In simple words, these are the people who have made money discipline a part of their lives.

The surefire formula to make CIBIL score 850: Make these 5 rules a habit

If you also want to join the 850 club, then you must follow these tips.

First rule: Do not delay even a single EMI or bill

First of all, pay all your loan EMIs and credit card bills 2-4 days before the due date. If you delay paying these bills even by a day, it can affect your CIBIL.

You can set up auto-debit in your bank account by adopting a smart way, this will automatically deduct money from your account, which will end your tension.

Second rule: Keep your credit card as empty as possible

Suppose you have got a limit of 1 lakh, then it does not mean that you should spend the entire limit of 1 lakh. You should not use more than 30% of your total credit limit and to build a credit score of 850, you should use less than 10-15%. The more you keep the card empty, the faster your credit score will grow.

Third rule: Do not close the old credit card

If you are closing the old credit card to get a new one, then do not do it at all. Even if you are not using it. Your old credit card increases the age of your credit history, and the older the history, the more your score increases.

Fourth rule: Do not apply for loans again and again

Unless there is an emergency, you should not apply for a new loan or card. If you apply for a loan or card every time, then before that the bank pulls your CIBIL report and due to this your CIBIL score (Cibil Score Rules) decreases little by little.

Fifth rule: Keep an eye on the report on time

Along with this, you should definitely check your free CIBIL report once a year. Many times it also happens that due to the mistake of the bank, wrong information is entered in your report, which spoils your score. If you see anything wrong in the CIBIL score (CIBIL Score Updates), then you should immediately file a complaint with CIBIL.

How much time will it take to reach 850

It takes both time and patience to increase the CIBIL score (CIBIL Score news). If you are new, then it will take you at least 2-3 years to make a good score of 750+ and after that the journey to 850 may take 7-10 years or even more.

Along with this, if your score is poor (Poor Cibil Score) i.e. (600-650) then it may take 3-4 years for your CIBIL to reach 750. After that, the destination of 850 is far away, but it is possible if you follow discipline.

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