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Proven Tips to Immune Credit Score

Updated on June 2, 2020
PrateekJain24 profile image

Prateek is a credit professional with experience in advising clients to maintain a high credit score by following proper credit norms.


There are many people around us who need funds to fulfill their basic necessities and other financial obligations. Due to low credit score which is not good, banks did not give any loans. Many people are worried and sad about this fact, but here is good news for all having a low credit score.

A bad credit score can be improved with some basic strategies and practices. The basic to advanced strategies have been discussed in this article. Repairing of credit score is necessary to avoid any unusual situation and rejections by banks to give loans.

One must follow due diligence while repaying any installments for their small loans. It is because the first and foremost reason which degrades their credit is installment bouncing.

Tips to Improve Cibil Score

A credit score can be improved within 6-8 months by adopting appropriate strategies.

Following the advice below will help you to improve your credit score at the earliest.

1. Timeliness

  • Pay all your loans/credit cards on time in full.
  • If you missed your EMI's or credit card payments for 1-3 months.
  • You should pay off your dues in full once your situation is better.
  • Always adapt automatic payment mode for paying equated monthly instalments - ECS, PDC, etc.
  • In case of dispute with the lender for a fraudulent transaction, an extra charge, or annual fees, etc.
  • Settle it as soon as possible and pay the agreed settlement amount.

2. Credit Mix and Duration

  • Limit your unsecured debts (credit card or personal loans) to 20% of your total credit limit.
  • Don't take too many loans in a short time.

3. Don't be Credit Hungry

  • Limit your credit card spending to less than 30% of your total credit limit or monthly salary.

  • Limit your equated monthly installment to less than 40% of your monthly salary.

4. Manage Your Credit Card Well

  • Don't take too many credit cards.

  • Pay your monthly dues in full.

  • In case of hardship, pay at least minimum due.

  • Keep oldest credit card with best credit history.

5. Rebuilding

  • Take alternative loans to rebuild credit history

  • Take a loan against securities such as fixed deposit, life insurance policies, gold, mutual funds, shares etc.
  • Take a credit card against a fixed deposit.

6. Monitoring

Regularly monitor your loan account in the following cases:

  • You have a joint loan.
  • You are a guarantor of a loan.

  • Your company has taken a loan where you are a partner, director, proprietor or guarantor.

7. Inaccuracies

  • Report inaccuracies to CIBIL in case of default.
  • Check the credit report once a year.
  • Check for any incorrect open account.

  • Check for any discrepancies in open loan accounts.

  • Report inaccuracies to CIBIL Consumer Dispute Resolution online.

  • CIBIL will only report inaccuracies to the lender but will update the credit data once the lender confirms.

Why Credit Score Drops?

Apart from learning how the credit score can be improved, we should also know why the credit score drops.

All valid reasons which lead to a fall in credit score are listed below.

Division of Credit Score

Past performance
Credit mix and duration

1. Default in Loan Repayment

Default in loan repayment happens due to the following reasons:

  • Genuine financial hardship.
  • Missed payments on credit cards.

  • Dispute with the lender on account of fraud, extra charges or annual fees.

2. High Amount of Unsecured Debts

  • More credit cards or personal loans.

  • Less or no secured loans ( home loans or car loans) etc.

  • Avoid excess number offer loans or credit card enquires in a short time.
  • Always utilise your funds to fulfill your basic needs first. Such as food, shelter, and clothes. Then only plan for buying a luxury car, foreign tour or anything else.

3. Impact of Joint / Add on Credit / Guarantor

  • Joint loan impacts the credit score of all borrowers.

  • Add on card impacts credit score of the main card as well as add on cardmember.

  • Guarantor in loan also gets in the case of non-payment by the borrower.

  • In a company, the credit score of Partner / Proprietor / Director / Guarantor gets affected in case of company default.

4. Inaccurate Information on Credit Report

  • Partial or full repayment of the loan.

  • Incorrect open account.

  • Settled loans not updated.


I have discussed above some of my personal experiences. These were shared by my clients and helped them improve their credit score. Many situations in life are beyond our control. These situations can affect our finances adversely. When this happens, we are unable to repay our loans on time. The general human tendency is to show off their luxuries to others by traveling in luxury vehicles and wearing costly branded clothes.

Due to this, sometimes they spend above their set budget and later need to borrow funds to meet their basic necessities. But no need to worry because here I have shared some important information to guide you.

This will help you to increase your credit score immediately by following simple practices in your financial dealings.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2020 Prateek Jain


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