How to Maintain and Track your Credit Score
How to maintain credit score
If you manage credit responsibly, your scores will be maintained.
We have put together major factors that affect your credit score and what you can do about them -
- Use your Instant Credit Card regularly.
- Make payments on time. Late payments or defaults indicate that you are unable to manage the expense. If you have to make partial payments, try to pay back at least 50-75% of the outstanding.
- Stay within your credit limit. A high utilization of credit limit may indicate that your income is not sufficient to manage expenses.
- Apply for new credit in moderation – only as much as you need. Make an informed decision to apply for loans / cards at multiple lenders.
- Responsible use of credit cards indicate that you are financially secure and in control of your expenses. This may make lenders view future loan applications favorably.