Improving your CIBIL score is crucial for securing better loan terms and credit offers. Here are some effective strategies How to improve your CIBIL score:

1. Pay Your Bills on Time: Late payments negatively impact your CIBIL score. Set reminders or automate payments to ensure timely payments of credit card bills, EMIs, and other financial obligations.
2. Reduce Outstanding Debt: High credit utilization negatively impacts your score. Try to keep your credit card usage below 30% of the total limit. If possible, pay off existing debts or consolidate them for easier management.
3. Maintain a Healthy Credit Mix: A balanced credit portfolio, consisting of both secured (home loans) and unsecured loans (credit cards), can positively affect your score. Avoid applying for too many credit cards or loans in a short period, as each application triggers a hard inquiry that can temporarily lower your score.
4. Review Your Credit Report Regularly: Mistakes in your credit report can drag down your score. Obtain a free copy of your credit report once a year, and check it for any inaccuracies. Dispute any errors you find to ensure your score reflects accurate information.
5. Avoid Closing Old Accounts: The length of your credit history influences your score. Keep older accounts open to maintain a longer credit history.

By following these steps, you can steadily improve your CIBIL score, leading to better financial opportunities.