How to Increase Your CIBIL Score Without a Credit Card?

Making sure you get approved for a credit deal boils down to one big thing: your CIBIL score. It’s like a report card with three numbers that sum up your credit history. Keep it in the A-grade zone by paying on time, and you’re golden.

Your CIBIL score reflects how you’ve managed credit before, and using credit cards plays a big role in that. But guess what? You can still build a good CIBIL score even if you don’t have a credit card.

Increase Your CIBIL Score Without a Credit Card

Improving Creditworthiness: Elevating CIBIL Score Without Credit Card

1. Apply for a Loan

Getting a loan from a bank or NBFC can help your finances and boost your credit score if you pay everything on time. Just make sure not to miss any payments, or it could lower your CIBIL score.

2. Repay Timely

Paying your bills on time is like giving your CIBIL score a boost. Don’t miss the due dates, though, as that can hurt your score. It helps build a good credit report to show lenders that you’re responsible with payments.

3. Show Rental Payment Records

Living on rent? Your rent payments can show lenders you’re reliable. It’s like having a good reference on your financial resume. Just make sure the lender knows about it by sharing your rental payment history.

4. Display Your Job Benefits

Want a personal loan? Having a good-paying job is a plus. Even if you’re making money elsewhere, don’t quit your job. Lenders like the stability it brings, and it boosts your chances of getting approved.

Also read:

RBI Made 5 New Rules Regarding CIBIL Score Check, Helping Customers to Get Loan

5. Utilise P2P Loan Facility

P2P lending is like borrowing from online neighbours. If the bank process is a hassle, try it; it’s easier. Just remember to pay on time for a better credit score.

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Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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