In my earlier post, I have written about What is CIBIL report?. This report is used for knowing your credit history with all the financial institutions. This reflects your actual capacity of repaying the loan or your character on financial matters. This report is important for the banks to approve any new loans or credit cards. This article explains the important points to remember to improve your credit history.
There are certain importance given for the details in the report, which we will discuss in this article. If you have any doubts, please post it in the comments section. Subscribe to our future articles here.
How to apply online for Credit Report?
Remember Below Points to Maintain Good Credit History
- Always pay your bills on time. Late payments are viewed as the negative guidance on your financial status.
- Keep the loans and credit cars balance low. It shows that you are financially well able to manage without need of much loans. This gives positive guidance to the banks to offer loans.
- Also have the mix of credits like loans, credit cards, etc. For example, having multiple credit cards for one person doesn’t look for your financial status. Even if you have multiple cards, use only one card will show that you don;t depend on multiple credit cards.
- If you paying the loans through EMI, don’t miss any of the EMI. It is advisable to auto-deduct from the bank account (nowadays this method only used by each loan). Keep checking that you have enough money in the bank account to pay the monthly EMI. If the EMI is returned, it will adversely affect your reputation with the bank and reflect in the credit history.
- Also, you have to be very careful when taken the joint-loan and paying the money together. If your co-applicant is not correct, that will affect you. You need to monitor your co-applicant that he pays the money on time.
- It shows good when you prepay the loan before the actual tenure. If you are prepaying the home loans or auto loans before the actual completion date, it will reflect as you are financially sound and good in closing the loan account. Bank will not fear on default payments from you.
- Review your credit history periodically to ensure that everything is proper on your name. Some times banks may not upload the data or miss some thing.
- You can request CIBIL for the Credit Information report (CIR). This report will show the complete details of your credit history.
Summary
The above points are only the suggestions to improve and maintain your good credit history. Apart from the above points, banks will use their own verification to sanction individual’s loan application. But, it judge the loyalty of application, banks mainly use the Credit Information report (CIR) from the CIBIL. So, it is necessary for you to spend some time on reviewing your credit history. If you have got this report and want to share your ideas, please post it in the comments section.
June 27, 2011 at 10:43 pm
Very informative article. Thx for sharing this.
Infact I realized that Credit scoring started in India only after I learnt that my Home loan got rejected from SBI. got it corrected after receiving my CIBIL report. Hope everyone benefits from the notes.
Thanks,
Dharmi
June 28, 2011 at 12:20 am
Hello Dharmi,
Yes. Many people not aware that the loans and their financial activities are updated in the CIBIL report and banks are reviewing them for approving the loan. Basically, even now the process is not very good and i think some banks are not uploading all the details. I have seen my report without few loans details which I have completed. But, in the coming days, Credit History will play a major role in sanctioning the loans or any credit facility in the banks.
If you have any thoughts, please post it here.
Thanks,
Krishna
July 17, 2011 at 9:35 pm
Long back, i had a S.B.I credit card.As my Job is transferable every three years since i am in sales, forgot to pay a small amount which was pending in my credit card account.
Now i was applying for new credit cards & all of them are getting rejected.So i applied for a CIBIL REPORT & got to know about the outstanding of Rs.5862/-& the status is shown as WAIVED OFF.
I want to clear the outstanding & get my name cleared from CIBIL.
But my problem is non availablity of full credit card number, i have only the four digits of the card number. I wrote many times to S.B.I cards, but there is no proper response from them.
Please suggest some solution for this,so that i can get relieved from the CIBIL report.
Regards
K.Arun Kumar
Mob-8286001942
August 10, 2011 at 1:58 am
Hi I had recently taken my CIBIL Report nad in this my CIBIL Transunion Score is 847.
I want to it is good ?
Do i will get credit card as earlier it has been rejected by some banks.
I am looking foe Home laon will i will get easily?
rgds..
November 4, 2011 at 3:00 am
Hi,
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We help people to over come issues with credit cards,personal loans&cibil issues…Fell free to call and get a quote Faizan 08030702249
November 4, 2011 at 3:01 am
Hi,
Debt Doctor Management Services Pvt Ltd in the business from the past two years, Our mission is to empower our clients to better control and manage debt, and ultimately secure a life of financial freedom and security.
We help people to over come issues with credit cards,personal loans&cibil issues…Fell free to call and get a quote Faizan 08030702249 E-mirza@debtdoctorindia.com
April 3, 2012 at 7:14 am
I want to improve my credit rating,pls.give me advice&solution
June 16, 2012 at 11:30 pm
Hello Jaivijay,
Please provide your loan details, i can help you in that.
Provide details like type of loans, credit cards, how you use your credit cards, it will help to decide if you are using it properly.
Thanks,
Krishna
August 5, 2012 at 9:40 am
Dear Sir,
I need your help in terms of CIBIL updates as my details given below:
I applied for personal loan but rejected two times due to CIBIL record though I have settle all my dues from bank site. Kindly help me.
Ref. no. D2/366748/110/LTBRD00012450164)-Regarding
The deails as given below:
Ref. no. D2/366748/110/LTBRD00012450164
My present add.
Shailendra Pratap Singh
Associate Reasearch Scientist
Maharastra Hybrid Seed Company Limited
Dawalwadi, Jalna
+919158495648
Old add.
Shailendra Pratap Singh
B/3, Subh Avenue Complex, 17- Vishva Kung Soc karelibaug,
Baroda
Loan Details
Loan Installment: 2367.00
Date of Birth: 15/10/1974
Vehicle Registration no. GJ6CQ-4807
Vehicle status : Passion Plus
Bank-ICICI
LAN No. LT BRD 00012450164
PAN No.: BMOPS6776A
August 6, 2012 at 9:24 pm
Please check with the bank if they have updated the details in the CIBIL report.
Thanks,
Krishna
August 13, 2012 at 10:09 pm
Dear sir,
I am sending herewith the bank report which i was received last time. Plz go through the mailand suggest me how to overcome from the problem. Thanks.
Dear Mr. Singh,
We understand your concern.We tried reaching you on 9158495648 on July 20, 2011, at 5:10 p.m. to assist you with your query. however were unable to establish contact with you.
We confirm you that your Loan Account LTBRD00012450164 was closed on June 11, 2010 and same details are updated with CIBIL on June 27, 2011.
For any further clarification, you may write to info@cibil.com with the control number.
We look forward to more opportunities to be of service to you.
Sincerely,
Vanitha K
Customer Service Manager
ICICI Bank Limited
August 14, 2012 at 10:15 pm
Dear Sir,
When I mailed to ICICI customer care they sent the mail which is given below. Kindly go through the mail and suggest what to do further.
Looking forward to here from your site for kind intimation.
Thanks,
Shailendra
9158495648
Dear Mr. Singh,
We understand your concern.
We tried reaching you on 9158495648 on July 20, 2011, at 5:10 p.m. to assist you with your query. however were unable to establish contact with you.
We confirm you that your Loan Account LTBRD00012450164 was closed on June 11, 2010 and same details are updated with CIBIL on June 27, 2011.
For any further clarification, you may write to info@cibil.com with the control number.
We look forward to more opportunities to be of service to you.
Sincerely,
Vanitha K
Customer Service Manager
ICICI Bank Limited
August 14, 2012 at 10:21 pm
Dear Sir,
When I mailed to ICICI customer care they sent the mail which is given below. Kindly go through the mail and suggest what to do further.
Looking forward to here from your site for kind intimation.
Thanks,
Shailendra
9158495648