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About credit score

Yes, it is very much possible to improve your credit score in a matter of months and become eligible for loans. All you need to do is to follow some simple tips, and make sure you consistently follow these steps till you achieve your desired score. These tips can push your score in the right direction.

  • Pay your bills on time: Making even a single late or partial payment or skipping a payment altogether, has a negative effect on your credit score. Paying off all your bills on time and in full is a major contributor to a good credit score. Even if the amount you owe is small, the consequences for your score are big.
  • Keep your credit balances low: Make sure that you don’t exceed more than 50 % of your credit limit. This helps you to keep your credit utilization ratio (the proportion between your actual spending and your credit limit) at a lower rate and has a positive impact on your score. For example, if your credit limit is Rs. 1 lakh, make sure that you do not exceed a monthly bill of more than Rs. 50,000. A bigger credit utilisation ratio implies lack of spending discipline.
  • Apply for new accounts only when needed: Make sure that you don’t open too many new credit accounts. Every time you apply for credit (whether a loan or credit card) it results in an enquiry by lenders. Multiple enquiries in your credit report reflect that you are ‘hungry’ for credit and may not be able to fulfil your debt obligations.

    Remember to pay your dues in full rather than paying the minimum amount for your credit cards

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Corporate Agent (Composite)

CreditMantri Finserv Private Limited

CIN No

U72100TN2012PTC085154

IRDAI Registration Number

CA0665

Valid Till

01-Aug-2025

ADDRESS

CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002

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