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If you want to enhance your credit score, please find below a rundown of some things that you can attempt.
Responded by:Responded on25th May 2015
This is on the assumption that your present record of credit history is normal and does not have any negative pointers. This won't be applicable if you've been a defaulter before; such cases could take quite a while longer to recuperate.
Situation: You have 1 or 2 loans that you've taken and repaid before without any bother and now you are planning on raising your credit score to the 800+ levels before you take that next huge loan.
1. Have 2 credit cards; nothing additional and nothing less.
2. Verify that the free credit period (credit cycle) for one card closes towards the end of one month from now and the other one has a credit cycle inverse to your first card. i.e., your 1st card’s payment due should be between the 1st to 10th of a month and for the 2nd it should be around the 25th to 30th of the month.
3. Pay off all the required debts before due date at any expense.
4. Use just around 40-50% of your credit limit for every card consistently. In the event that you use the full 100%, it might adversely affect your score.
5. Continue paying off your credit dues in little sums every 5th or 6th day after you get your monthly statement; don't sit tight for the last day to pay the complete sum.
6. Try not to break the cardinal rule of purchasing stuff with credit card that you can't manage.
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