How long it takes time to improve CIBIL score?

CIBIL score meaning
Improving your credit score is not a one-day job. You will require a lot of patience and effort to maintain a good CIBIL score. Many factors and mistakes can affect your CIBIL score, but with a correct approach, you can increase it and maintain it for a longer run. Do you know about CIBIL score meaning? If not, then read further.

CIBIL score meaning
A CIBIL score is a 3-digit numeric number that ranges between 300 -900 and defines the borrower's creditworthiness. 
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How long does it take to build the credit score?
Building a high credit score is very easy for those who pay their EMIs on time and don't make common mistakes that can ruin the credit score. Building a good credit score usually takes one year. 
If you are not consistent in paying your pending bills and EMI's, building a good credit score can be tough. It is advised to maintain a credit score between 750- 900.
Here are some important measures you can take to improve your credit score.

• Improve your payment history

Pay your credit card EMIs and loan repayment on time to avoid any problems

• Lower the credit utilization ratio

Always use up to 30% of your available credit limit. Divide your financial burdens equally on the different credit products.

• Avoid closure of old accounts

Closing old accounts and credit cards will affect your credit score negatively. Old accounts reflect the long-term associations and give a good reputation. 

• Monitoring of credit report

A credit score meaning is not just a number. It's your reputation in Infront of financial and non-financial institutions. To maintain this score, you need to check the CIBIL report regularly.
CIBIL score meaning is not just to get some numbers. It is to maintain your reputation and creditworthiness for hassle-free loan approvals.
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Read Also: Know all about your CIBIL score and report