A solid CIBIL score opens doors—be it for a mortgage, car loan, or even that credit card you’ve always wanted. But how do you get the perfect 800+ CIBIL Score?
This blog focuses on using both secured and personal loans to add healthy variety to your credit portfolio. Read on to discover practical tips, key insights, and proven techniques to help you steadily improve your score.
We say ‘yes’ to home loans, even when your credit score says ‘no.’
How to Achieve 800 Plus CIBIL Score?
Striving for an 800+ CIBIL score might seem daunting, but it’s attainable with the right approach.
- Avoid Too Many Loan/ Credit Inquiries
Every time you apply for a new credit card or loan, a hard inquiry is recorded on your credit report. Multiple hard inquiries in a short period can negatively impact your score. Space out your credit applications and only apply when necessary.
For example, avoid applying for multiple credit cards within a few months.
Read More: Types of Credit Scores - Pay Your Bills on Time, Every Time
Timely bill payments are the cornerstone of a high CIBIL score. Late or missed payments can drastically lower your score and take time to recover. Set up automatic payments or reminders to ensure you never miss a due date.
For example, if your credit card bill is due on the 15th of every month, schedule an automatic transfer a few days earlier to cover the amount in full. - Keep Your Credit Usage Low
Your credit utilization ratio is the percentage of your total available credit that you’re using. Keeping this ratio below 30% is generally recommended, but aiming for below 10% can significantly boost your score.
For instance, if your total credit limit across all cards is ₹2 lakhs, try to keep your monthly spending below ₹60,000.
Read More: How to Get a Home Loan without Credit Score? - Use Different Types of Credit
Having a healthy mix of credit types, such as credit cards, personal loans, and home loans, can positively influence your CIBIL score. Lenders like to see that you can manage different types of credit responsibly.
For example, if you have a credit card and a small personal loan, ensure you make timely payments on both.
Read More: 12 Month Road Map to Improve Credit Score - Increase Your Credit Limit Carefully
Requesting a higher credit limit can help lower your credit utilization ratio, provided you don’t increase your spending.
For instance, if your credit limit increases from ₹50,000 to ₹1 lakh and your monthly spending stays at ₹20,000, your credit utilization reduces from 40% to 20%, which can improve your credit score.
Read More: Checking CIBIL Score Affects It - Check Your Credit Report Often
Regularly checking your credit report helps you stay aware of your credit status and spot any inaccuracies or fraudulent activities early.
Obtain your free credit report annually from CIBIL and ensure all the information is accurate. Dispute any errors you find to maintain the integrity of your score.
Read More: How is CIBIL Score Calculated? - Maintain a Long and Stable Credit History
A longer credit history generally contributes to a higher credit score. Avoid closing old credit accounts, as they add to the length of your credit history.
For example, keeping a credit card you’ve had for five years open, even if you use it sparingly, can benefit your score in the long run.
Read More: SBI CIBIL Score - Avoid Piling Up High Debt
High levels of debt relative to your income can be a red flag for lenders. Strive to pay down existing debts systematically and avoid accumulating new debt unnecessarily.
For example, prioritize paying off high-interest credit card balances before taking on new financial obligations.
Read More: How to Check CIBIL Score with PAN Card?
Read More: HDFC Bank CIBIL Score for Home Loans
You deserve a better home loan interest rate. Check your CIBIL Score Today!
Advantages of 800+ Credit Score
- Easier Loan Approvals: Lenders see you as less risky, so getting approved is quicker and smoother.
- Lower Interest Rates: A high score often qualifies you for competitive rates, saving you money over time.
- Better Credit Card Offers: Enjoy higher limits, premium rewards, and exclusive perks not available to others.
- Reduced Security Deposits: Utility companies or landlords may waive or lower deposits because of your strong credit.
- Stronger Negotiation Power: You can negotiate better terms on loans and credit products, giving you more financial flexibility.
Read More: How to Raise a CIBIL Score Dispute?
Conclusion
By following these proven strategies you set yourself on a steady path toward an 800+ CIBIL score. Even if your score isn’t ideal right now, there are still ways to secure a home loan or other financing with the right guidance.
At Credit Dharma, we make this possible by offering lowest guaranteed interest rates that keep your monthly payments manageable, allowing you to enjoy more of what truly matters.
Frequently Asked Questions
It’s advisable to check your CIBIL score at least once a year or whenever you plan to apply for a significant loan or credit product.
Yes, closing old accounts can shorten your credit history and potentially lower your credit score. It’s generally better to keep old accounts open and use them occasionally.
A missed payment can impact your score for up to seven years, but the effect diminishes over time as you continue to make timely payments.
No, you can not negotiate with the banks to remove negative marks. It is only possible if you settle outstanding debts or have a good repayment history.
Improving your CIBIL score can take a few months to over a year, depending on the actions taken and the extent of credit issues previously.
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