Let us talk about the smart ways to improve CIBIL Score after settlement. The CIBIL score is the 3-digit numeric summary of the credit history that summarizes creditworthiness and shows the ability to repay a loan. For the loan and credit card loan acceptance, every person aims to have a CIBIL score because of its credibility.
The CIBIL score is the 3-digit number that represents the individual’s creditworthiness and punctuality towards the repayment behavior. The main importance of the CIBIL score is to let the lenders know how responsible you are on repayment behavior.
The steps on how to improve CIBIL score after settlement are:
● Build a solid credit record
● Modify your account's status from settled to closed.
● Make your payments on time.
● Pay off any outstanding debts.
● Get a card that is secured.
● Keep your credit limit higher than 50%.
● Never inquire about or apply for a loan.
● Continue to use credit cards.
● Verify that the loan type you select is suitable.
● Make sensible use of your credit card.
● Make sure you obtain an NOC from your credit card company.
In this blog, we have covered how to improve CIBIL score after settlement and what a CIBIL score means. NS Credit Consultancy is your one-stop destination for CIBIL score repair and for making your bad score a good score.
