How to Maintain Credit Score When You Have a Low CIBIL Score
Maintaining a good credit score is crucial for financial health, especially in a world where credit drives both personal and professional opportunities. A low CIBIL score may create obstacles, but it isn’t the end of your financial journey. With the right strategies, you can rebuild your credit and keep it stable over time. This guide covers actionable steps on how to maintain credit score even when starting with a low CIBIL score. Understanding CIBIL Score and Its Impact A CIBIL score, ranging between 300 and 900, is a numerical reflection of your creditworthiness based on your repayment history and financial behavior. 750 and above – Excellent 650–749 – Good 600–649 – Fair Below 600 – Low Lenders rely on this score to decide your loan eligibility and interest rates. A low score often leads to higher borrowing costs, stricter conditions, or outright rejection. That’s why maintaining and improving your score is essential. Steps to Maintain Credit Score with a Low CIBIL Score If you ...