How to go from a credit rating from 650 to 750 - which really works | Mint

A credit point of 650 is treated by the leading credit bureaus as a ‘fair’ score in India. Since it is not the worst now, it can limit access to prime financial products such as Premium Credit Cards or Personal Loans on Low Interest Rates. As a norm, according to the top -level credit bureaus such as Crif High Mark, Experian, Cibil, Equifax, the leading financial institutions prefer a score of over 750+ before considering offering attractive personal loan conditions and credit cards to applicants. Now, with sincerity and discipline to maintain proper credit behavior, a leap of a creditworthiness of 650 to a credit rating of 750 is possible. The idea is simple, the higher the creditworthiness of an individual borrower, the better the chances that the borrower to ensure personal loans and credit cards on easier conditions and conditions along with friendly interest rates. This record is dedicated to the discussion of easy ways in which a borrower can correct a creditworthiness of 650 and hits the aspiration credit number of 750 or 750+. Focus and pay credit card accounts and EMIs in time your payment history is about 35% of your creditworthiness. Now even a single mish or mish or ignored EMI payment can decrease your creditworthiness by 75 to 100 points. The same goes for the payments of credit card account. Therefore, you must set up automatic payment or alarms to stay in accordance with your credit payments. On the same lines, even if you are ten days late with your refund, you can see a serious decline in your creditworthiness, and you may never see that you score 700 scale. Therefore, punctuality is crucial. Bring your credit consumption ratio. The focus here should be to keep your credit consumption ratio to as low as possible. Try to ensure that you use less than 30% of your credit limit. This means, for example, that your credit card gives you a £ 1 lakhs limit, then you should never use more than £ 30,000 from the given credit limit of £ 1 Lakh. This will ensure that your credit limit always remains less than 30%. This will show your future lenders that you are not a credit or debt relationship person. If your expenses are of such a nature that your credit utilization crosses the red line mark of 30%, in that case, you must reach out to your credit loan authority and request them to fill in a higher credit limit through the compliance form according to their instructions. This will ensure that your credit rating and overall credit report remain healthy. Plan your expenses properly Each credit investigation brings off your creditworthiness with a few points. This is why the application for a new loan or a new credit card in a relatively short period of time is adjusting about the dependence on credit or debt, that is, it is considered a sign of credit hungry behavior on the applicants. Such behavior can harm your credit profile, credit utilization and creditworthiness in an extremely negative way. Check, follow up and monitor credit report consistently if you are a credit card user or a personal loan holder, then it is your own responsibility to carefully follow up, follow up and monitor your credit profile and monitor your creditworthiness on a consistent basis. Generally, errors such as wrong loan status, fraudulent accounts, wrong transactions, etc. Sometimes reflects in credit reports that have errors in it. Therefore, it is important to be quick in solving such disputes with your credit card that offers financial institution. You can also download one free annual credit report from the leading credit bureaus such as Experian India, CRIF High Mark, Cibil, among other things, to dispute errors and errors and increase your vote against any action. Take your time and now build a longer credit history to take your credit rating from 650 to 750+ soon and try to ensure that you pay lower EMIs for all future loans, and you still need to invest a while. It seems easy, but it is still a little complicated as a task to increase your creditworthiness in the least possible time. This is why you should keep old accounts active and open, even if you are not used by you. This is crucial because older credit lines such as decade old credit cards, personal loans improve and increase your credit period. If you have been on your credit card accounts and personal loan EMIs in time for the past ten years, it is a clear sign to your future money shooter that you are an individual who can be trusted and can therefore get a credit card or personal loan on easier conditions. Disclaimer: Mint has a fusion with fintechs to provide credit; You must share your information if you apply. These bonds do not affect our editorial content. This article only intends to educate and distribute awareness about credit needs such as loans, credit cards and credit values. Mint does not promote or encourage credit as it has a set of risks such as high interest rates, hidden costs, etc. First Published: 21 Apr 2025, 10:32 am Ist