In India, a credit score of 750 or above is considered “excellent” and dramatically improves your chances of getting loans and credit cards at the best rates. If you’re currently in the 600–700 range, the good news is that with disciplined financial habits you can cross 750 in a few months.
Here are five proven tips to get there:
1. Pay All EMIs and Credit Card Bills on Time
Why it matters: Payment history makes up the largest chunk of your credit score. Even one late payment can drag your score down.
Action: Set up auto-debit or reminders so no bill is ever missed. Pay at least the minimum on cards, preferably the full balance.
2. Keep Credit Utilisation Below 30%
Why it matters: Using most of your available credit signals financial stress.
Action: If your card limit is ₹1,00,000, keep spending under ₹30,000. Ask your bank for a higher limit if you’re disciplined—this lowers utilisation automatically.
3. Avoid Multiple Loan or Card Applications at Once
Why it matters: Each application triggers a “hard inquiry” on your report. Too many in a short time reduces your score.
Action: Check your eligibility first with “soft check” tools, then apply selectively.
4. Maintain a Healthy Mix of Credit
Why it matters: Having both secured credit (like a car loan) and unsecured credit (like a credit card) shows you can manage different types of debt.
Action: If you only have cards, consider a small secured loan; if you only have loans, keep one low-usage credit card active.
5. Review Your Credit Report Regularly
Why it matters: Errors or outdated information can unfairly lower your score.
Action: Pull your free CIBIL/Experian/Equifax report at least once a year. Dispute inaccuracies promptly.
Bonus Tips
Don’t close your oldest credit accounts — longer credit history helps.
Pay down high-interest or small debts first to free up capacity.
Conclusion
Boosting your credit score isn’t about quick hacks — it’s about consistency. By paying on time, managing utilisation, being selective with new credit, maintaining a good mix, and checking your report, you can move from “fair” to 750+ within months and enjoy lower interest rates and faster approvals.
FAQs
Q1: How long does it take to raise my credit score above 750?
A: With consistent on-time payments and low utilisation, many people see improvement within 3–6 months.
Q2: Will increasing my credit limit improve my score?
A: It can lower your utilisation ratio, which may improve your score if you don’t increase spending.
Q3: Does checking my own credit report hurt my score?
A: No. Soft inquiries (when you check your own report) don’t affect your score.
Q4: Should I close unused credit cards?
A: Not your oldest ones—keeping them open helps maintain a longer credit history.
Published on : 19th September
Published by : SMITA
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