Six easy hacks to improve your credit score from bad to good

Your credit score is a representation of your financial health, which is what makes it important enough for you and sit up and pay attention. With a healthy score, you can look forward to a healthier financial life as well, and avail the best offers on loans and credit cards. Otherwise, getting a loan for low CIBIL score can be quite a challenge!

If your credit score is currently not up to the mark, do not fret. We’re here to help you improve your score from ‘bad’ to ‘good’. These six easy hacks should get you started. Read on to know more.

Tips and tricks to work on your credit score

  1. Make timely payments: First things first, pay your bills on time each month as they arrive. There’s nothing like bills paid in full to make a prospective lender look at you positively. Payments when made on time and ideally in full, look great on your CIBIL report as well. Paying up late or less than the total amount due also impacts your score negatively, so do keep that in mind!

If you find it tough to keep track of which bill needs to be paid out when, how about setting up calendar reminders or alerts on your mobile phone? And yes, if you have any previous bills outstanding, consider paying those off as well.

  1. Don’t apply for too much credit: While your wallet may look impressive when it is spilling over with multiple credit cards, what isn’t so impressive is the impact this has on your credit score. The reason being, each time you apply for a new credit limit, the lender makes an enquiry about your credit score. Each such hard enquiry can negatively impact the score. It’s pretty clear, then – don’t make applications unless you really require that additional card or loan.

  1. Stay well within your credit limit: While larger credit limits are tempting, remember it’s also that much easier to utilise them. The trick to staying credit healthy includes staying well within your credit limit. Using around 30 percent of your credit limit or less is ideal, by the way, for your score to get a boost. On the other end of the spectrum is the danger of maxing out your card limit, so do track what you spend! The lower the balance, that much better is your credit score. In short, know what you are spending before the ratios get skewed.

  1. Track your score: It’s no secret that monitoring your credit score is one of the best things to do to bring your score up. Let’s see what all this does for you, shall we? For starters, you’ll be able to know how you’re faring when it comes to credit usage. Experts recommend that you check your score once a year, but there’s no such rule set in stone. In fact, it’s recommended to check your score more often, especially if you’re planning to apply for a housing or car loan. Secondly, you’d know immediately if there is any inaccuracy in the report. Which brings us to the next point; read on!

  1. Report any inaccuracies on your report: This is where monitoring your report comes in, and is an important activity. There have been instances wherein an individual’s credit report reflects information pertaining to someone else – which can impact the credit score negatively. To cite an example, if a person has a poor repayment track record and the same reflects erroneously on your CIBIL report, rest assured that this information will pull your score down. Make sure, then, that your report contains only your data and no one else’s.

  1. Don’t erase past records: It doesn’t matter if you’re not using the credit card that you’ve had for a while. As long as your payment history on that card is good, with payments made on time and in full, your credit card can help boost your score. It’s pretty simple – when a lender is looking at your credit history, they are encouraged to see a prospective borrower who comes with a robust financial history. Having this backing only makes your subsequent applications for loans and/ or credit cards stronger.

And finally…

Establishing and maintaining a good credit score will always be to your advantage. A few good practices like those mentioned above can ensure that you’re not stuck trying to get a loan for low CIBIL score. Instead, you can avail of the best deals when your score is healthy.

Remember that repairing your credit score is not an overnight task. Taking it from ‘bad’ to ‘good’ needs time and patience. Your best bet to go about it, is to establish good credit habits. Be practical in your approach and over time, you should see the results of your hard work pay off.

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Let’s find out interesting facts about credit score that you didn’t know

Credit score itself is an interesting topic. The whole logic, algorithm, how is it calculated, what factors are associated with it. All becomes one big score that is required to check the creditworthiness of an individual when he or she has applied for a loan or credit card to either the banks or the NBFCs (Non-banking Financial Institutions). For the basics, A Credit Score is a three digit number ranging between 300-900. Where 300 is the lowest and 900 is the highest. The score between 750-900 is a good score. Between 600-750 is considered as an average score and anything below 600 is bad.

There are four credit bureaus in India who gives credit scores. CIBIL (Credit Information Bureau India Limited), Experian, Equifax and CRIF Highmark are these four bureaus. These credit bureaus have the authority to access an individual’s credit history as they have the communication channel set with the banks and NBFCs (Non Banking Financial Institutions) who passes the information of when was the loan or a credit was applied to when it was approved to when it was disbursed and finally when they do they start repaying. Any missed or delayed payments, are all recorded and obviously which affect the score!

Payment History, Amount Owed, Credit Mix, Length Of Credit History and New Accounts are the five factors of which the credit score is made! We all know that. We have read many times about these criteria or the parameters and how they can make or break the score. The free CIBIL Score that is offered also helps anyone know the score and a detailed report wherein one can check the mishaps that must have happened if the score has gone low or anything related. But let’s know a few things beyond that. And what are other factors that one can take care too!

The first that comes is the credit utilization ratio:

What is the credit utilization ratio?

If you are a credit card user, you would know that there is a credit limit to the card which is assigned to you. Now, the credit limit given does not necessarily mean that use the whole of it. Practice shows that people who used a maximum 35% to 40% of their credit limit of the credit card, helped them keeping the score batter and on an average increasing the score. The logic is that it shows that the user is not credited hungry and is responsible enough to use some amount of the credit available. In such a case, if your utilization is high, try and get one more card and manage the balance or you can always clear the outstanding and revive the credit limit.

Secured Loans:

Secured loans or secured credits gives the financial institutes an idea that there always is a backup just in case if there is an emergency and you may just not be able to pay off the loan. A Car loan, Gold loan are some such small amount example of loans and secured credit card which is obtained against the FD that is kept to get that credit card are some of few hacks and tricks you can follow to get a better score.

Investing in something and from the interest received, pay the EMIs:

Now, this is one very interesting concept. Say you have X amount of money with you. If you are buying a home or a car or want to go for higher education or maybe send your kids for the education if you are that age, keep that amount as an investment. Take a loan for the work and manage in such a way that from the interest received from that investments, you can pay the EMI of a loan. In such manner, you can have the money safe, invested and with a new loan account, all the factors of the credit score are also covered helping you increase the score!

Follow these simple interesting hacks related to credit score which you probably didn’t know!

How to become your own credit score guru?

Let us decode today all basic details about credit score. First, we start with the main question, Why is the score required? And then. How the score is derived? What are the criteria that affect the score? What is the range of credit score? Which score is considered a good score and which is a bad score? What does the score affect? Eventually, let us take each question and become our own guru when it comes to credit score. First of all, understand that credit score is no rocket science. It is a basic concept if understood properly, you may never go wrong and get a drop in your score!

Let’s start with the first question:

Why is the score required?

Credit Score shows the worthiness of an individual. When one applies for a credit either in the form of a loan or the credit card, the banks or the NBFCs (Non Banking Financial Institutions) checks the score and then decides first to approve or reject the application and then if loan then at what rate should it be approved and if credit card then the credit limit.

What is the range of credit score?

A credit score is a three-digit number ranging from 300 to 900. 300 is the least of score and 900 is maximum.

Which score is considered a good score and which is a bad score?

A score that falls between 300-600 is considered a bad score. A score that ranges between 600-750 is considered as an average score and the score above 750 upto 900 is a good score.

How is the score derived?

There are four different credit bureaus in India who gives the credit score to each individual. They are CIBIL (Credit Information Bureau India Limited), Experian, Equifax and CRIF Highmark. These bureaus have five different criteria for evaluating an individual’s score. These five factors are Payment History, Amount Owed, Credit Mix, Length of Credit History and New Accounts. Majorly the algorithm that evaluates the score has the weightage across all these parameters which is decided by the bureaus!

What are the criteria that affect the credit score?

1. Payment History

Payment History constitutes the major weightage in a score. 35% of the total score comprises of payment History. This is not just the details of the payments that are done but also the detailed description of how the account of any loan say personal loan, education loan, business loan, home loan or car loan and the credit card repayments are done. The delays, dates that are missed or any credit account that is not closed is all mentioned here and affects the score.

2. Amount Owed

Surprisingly, the total amount owed by an individual carries 30% of the weightage in a score. This usually is the current outstanding of the loans and credit cards limits that says the total amount owed by anyone.

3. Credit Mix

This one has 15% of importance. The credit that is taken is divided into 4 categories. Fixed type of credit, Revolving type of credit and Secured type of credit and unsecured type of credit. As the name suggests, these are the basic ones that give you the idea about what exactly they are. A good mix of all these types of credit also makes a good part of the score.

4. Length Of Credit History

How long has been the first ever credit account opened and if it’s still on consists of 10% of the credit score. One must try and not close the oldest credit account in such case for keeping the score better.

5. New Credit Account

Each new credit account opened consists of the last 10% of the score. This doesn’t mean that anyone keeps on opening the account and the score will increase. That would seem the Credit hungry behavior and may drop the scores down. Maximum a new credit account should be opened once in 6 months!

If all these points are taken care for, you can be your own credit score guru and need not be worried about how it works and take advises from various people!

Start learning the basics of your credit score

There is always a first time for everything. That can be your first home, your first car and many more. You tend to have the same feeling about your first salary or application of a fresh new loan. But have ever thought about where does your financial transaction lead you to? All your financial transactions lead you to your credit report.

Now what is a credit report and how does that matter you may ask?

A credit score is nothing but a numeric representation of how you are doing financially. The score ranges from 300-900 and higher the numbers, higher are your chances to get a loan or a financial product. A good cibil score can not only help you get a quick loan but will also help you in many other ways like landing you in your dream job, etc.

It is really important to know the cibil score and also the basics of how the score calculation works. If this is your first time encountering such a thing, you are the right place. Today we will sight you some basics of cibil score and how it is calculated.

Do I have a credit score?

Yes! We all have a credit report. If you are making any financial transaction, you will have a credit score in place. If you have never applied for any credit, your cibil score may be on the lower side or even no cibil score, but you definitely have a report in place.

Checking your own credit score does not affect the score

This is the top most myth which revolves around the credit score and its calculations. There are two types of inquiries, hard and soft. A hard inquiry is made whenever you are applying for a loan or a credit card by the bank and it gets reflected towards the report. On the other hand, if you are personally inquiring about your report, it is termed as a soft inquiry which is not reflected on the account and does not take your credit score down.

How is the score calculated?

The cibil score is calculated on many grounds. Grounds like your payment history, tenure of the credit, types of credit you hold, credit inquiries, etc. What you need to understand is that cibil score calculations are always tricky. Even if you miss one payment, you will end up losing a lot of number out of the score and end up on the low cibil score section. You will have to be smart and agile when it comes to maintaining your cibil report.

 

 

 

Where is my credit information stored?

Your credit information is gathered and recorded to different credit bureaus in the market. The most preferred by the Indian lenders is CIBIL as a credit bureau and most of the time your cibil report is checked if you have applied for a loan.

Can anyone have access to my report?

The answer to this is a yes and also a no. The banks and lenders have special access to view report of any individual who is applying for a credit or a home loan so yes; the creditors have access to your report all the time. On the other hand, on a personal level only you have access to your credit report and no one else.

Is data theft real?

Yes, it is. Your data if not preserved properly can be used by someone else and you may end up having a low credit score. Always make sure all your information is accurate and safe so that you do not encounter such a thing.

When you are starting fresh on the credit grounds these are the basics you should know, what is much more important than the above points is, how you maintain your score for future financial transactions.

Maintaining a good Credit Score is a matter of patience

Recently, you may have applied for a loan or a credit card and seen your application getting rejected again and again. You must be given the reason frequently that you are denied a loan or a credit because of you low cibil score. In such situations what would you do? You do the obvious! You get your free cibil score, Start researching on how you will get your credit score up in no time and get your credits approved. It seems simple, right? No, it is not that easy, once you end up in the loan defaulter list, it is really a struggle to get your cibil score up any time soon.

You explained this situation to someone in your office and asked for their suggestion. Your colleague had no clear answer for you which you can bank on and start amending your credit score from negative to positive. Your research continues and you run out ways to get your score up in quick time and now you are in a situation where you need a loan, but you are getting it denied due to the reason being, you low cibil score.

There is no shortcut for you when it comes to appreciating the credit score. It is a slow and gradual process. Once you default a payment, you see a sudden dip on the score, but on the other hand, you will have to make regular payments before you see your score to be stable and growing. Do not mistake that the defaults will vanish from your credit report. Every financial transaction you make is recorded on the report and it stays on the report for a very long time.

There are some tips and tricks which can help you get started,

Make all payments on time

This is the first and foremost thing which you need to do when it comes to amending your score. You will have to make all your payments on time so that you do not default your loan as well as see a dip on your score. If you make all your payments on time, the score remains steady and constant.

Stop making credit inquiries

When you know that you lie in the lower side of the credit, stop applying for loans and credit cards again and again. This will hamper your score even more. A credit inquiry is one of the components which decide on your cibil score. The more inquiries you make, the more your chances are to get a dip the score.

Keep an eye on your credit report

There are high chances that your credit report may contain a mistake made by the credit bureaus. This is a frequent drill where the bureaus make mistakes on the report. What you need to do is check your report frequently and report any mistakes to the credit bureaus if found. The dispute will take up a lot of time, but will help you get a healthy resolution and get your score up in no time.

Don’t exceed your credit limit

Your credit limit is an important thing and you do not realize that until you have completely exhausted it. Minimum usage of credit limits shows that you are responsible spender and do not spend on unwanted luxury. Less usage of limits mean, less to pay back and less pay back will lead to a healthy credit score.

Building up your credit is indeed a slow and gradual process, but what is important is that you need to be careful with your payment patterns to avoid such mishaps.

Getting a credit report is easy, but reading the report can be tricky

Your credit report is the very first thing the lender will check if you are applying for a credit line. You will have to make sure that you are up to the mark when it comes to the credit score while applying for a loan or else there are high chances that your loan plea may get rejected.

But, is it always your fault that your credit score is on the lower side. Let us take this scenario that you are in urgent need to cash and you apply for a personal loan. You are confident that your loan will be sanctioned within the given time frame and you will be able to fight the crises you are facing. You get a call from the lender stating that your loan plea has been rejected, reason being a low cibil score. You are shell shocked that you have always maintained financial integrity and this is something you never expected to happen on your part.

You get the cibil report and find a lot of information in there. You do not know how to analyze and see where it all went wrong and you ended up on the lower side of the score. This is the trickiest part of every person who is accessing their credit report for the first time. There is a lot of information which you need to analyze and check if you are in the right path.

We, today will sight you what to check and how to check your credit score,

Credit Score

Immediately after you open your credit sheet, the very first thing which you see in bold letters is your credit score. The credit score ranges between 300-900 points. Any score which is 750+ is considered to be an excellent score which can help you get a loan or a financial product with ease. Higher the score, higher are you chances to get a loan approved and various financial institutions begging you to buy their loans.

Personal Information

The next information which you see is your personal information like name, age, address, PAN details, etc. Make sure the information displayed is accurate. If you find any spelling mistakes in your name on the report, make sure to send an email to the credit bureau with attaching necessary documents to support your plea.

Employment history

Whenever you apply for a loan or a credit card, the bank always asks for your employment information. If you happen to be in a different organization when you are applying for a loan than the last time, that information is updated on your report. If you are employed in a reputed company, there are high chances of the loan getting sanctioned in no time.

Credit accounts and repayment history

Now you have landed to the most important section of the credit report. This section contains all the information regarding your accounts and your payment history. Even if you have skipped one payment, the bank registers the same and is sent to the credit bureaus. There are high chances that the information which you see may be inaccurate, if that is the case, you can raise a dispute with the credit bureau and get it sorted. This process will take time but at least you won’t end up having a low cibil score.

Credit Inquiries

Then the last section consists of various credit inquiries you have made on your report. Only the hard inquiries are counted in this section. You downloading your own report will not be reflected on this section.

A report reading is always a tricky part. If you fail to understand the credit terms, make sure you seek financial advisory help to get things sorted.

 

Credit Score is not important if not looking for credit. Is it true?

Our life revolves around credit. There are loans tailored for every need and want which can happen in your life. Availing a loan can be dicey and hectic when you’re in desperate need of money or loan. The most important component which determines if you are credit worthy is your cibil score. A credit score plays an important role in your loan application. The higher your cibil score is the more your chances is to get your loan at a speedy process. On the other hand, if you happen to have a low cibil score, the chances are you can either get your loan rejected or else still avail a loan with higher interest rates. This looks so easy but it’s defiantly not. The pain of getting your credit rejected because of your low credit score when you desperately are in need to money can cause you serious mental damage. Well, this is only with the loan part.

Have you ever given a thought, if credit score is only important while availing a loan? Is it important in any other way? If you are in the perception that your credit score only matters while applying for a credit or any other credit line, you’re mistaken. A credit report is slowly and gradually becoming an integral part of our life and sooner or later our lives will start revolving around it.

A credit report is a numeric representation of how you’re doing financially and apart from your future lender there will be many other third parties who would be interested knowing your financial status and how you’re doing financially.

Here are the other ways a good credit score can help you,

To get married

Yes, nowadays there are families and relatives who consider checking your credit report to understand whether you are financially worthy or not. A cibil report will give them a clear picture on how many lines of credit you hold and if you are making all your payments on time for the same. This will give them a clear picture if you’re an eligible bachelor who is worthy of getting married.

To land on your dream job

As we all know, when we apply for a job there are different types of background verifications conducted to check your past with your previous employers. Checking your credit report has also become one of the key criteria’s to check if you are job worthy. This type of verification is specially conducted by corporate companies who have large financial account to assign to the candidate. If the candidate is not self independent financially, how can he manage the company’s funds?

To get your dream home

As we all know luxury comes with a price. If you are one with liberal thoughts, you will know by now that renting makes more sense than buying a house. While you are in the process of getting a house on lease and the rent is quite high because it’s in the prime location. The house owner may ask for a cibil report just to verify if you can manage your funds properly and if you can deliver rent to the owner on time.

Like these, you credit score can help you in many ways apart from availing a loan. You can still get a personal loan with no cibil score, but the interest rates are quite high as compared to market standards.

Believe it or not, a credit score plays a very important role when it comes to many things in life. you will have to maintain it for any surprises life might throw at you.

5 queries about your credit score answered!

Credit score is still a relatively new concept in India, though awareness about it is fast growing. Thus it is only natural that there might be a few queries related to it in the minds of most people. One may often wonder what is the need to check their score or can there be a score without loans and so on. So here we discuss five common queries that may arise about credit score.

1. I am regular with my payments; do I still need to check my credit score?

Often people who are regular with their payments feel that there is no need for them to check their score as their score would definitely be good. Despite, payment history being the most important factor in credit rating calculation, other factors like credit utilization, loan mix, loan tenure and credit enquiries also impact the final score. Thus, though you may have been regular in your payments, the score could still be affected negatively because of any of these factors. Sometimes there may be a problem in the report due to inaccurate reporting by a bank or some fault at data entry level. What’s more now you can get a free credit report once a year so do make sure you get your free CIBIL score and stay credit healthy.

2. I do not have any loans; will I still have a credit score?

Loans are one of the sources that help create a credit trail and the other source that helps in creating credit history is credit card usage. Credit cards are more common than loans as more users are likely to have them as compared to loans which are need based. So even if you do not have a loan then your credit card usage can also help you in creating a credit history and get a credit score. It is important for all credit card users to be regular in their payments and keep the utilization ratio in check to maintain a healthy credit score. Those who do not have a credit history get a score of NH or 0 and those who have a credit history of less than six months get a score of NA or -1.

3. Does my spouse’s score impact my score?

This is another common query especially for women when they get married and adopt the husband’s surname. Marriage does not link or impact the score of an individual to their spouse; both partners maintain their individual score and the loans and credit cards in their name only will be included in the score calculation and credit report. If both partners decide to apply for a loan jointly then credit score of both will be considered, though depending on the loan type importance might be given to the score of the primary applicant.

4. Will checking my score impact it?

Whenever one applies for loans whether home loans or personal loans, the prospective lender seeks the credit report of the applicant and based on that they will approve or reject the loan application. When a FI asks for a credit report then it is known as a hard enquiry and it is recorded in the credit report; too many hard enquiries impact the credit rating negatively. However if one checks their own score then it is known as a soft enquiry and it has no impact whatsoever on the credit rating. On the other hand it is recommended that everyone check their credit report from time to time so that they can assess their credit health and also ensure that there are no errors in the report.

5. How long does negative information stay on the credit report?

This will depend on the type of information; repayment history for 36 months is included in the credit report. Thus any default made in that period stays on the report while credit enquiries for last two years are included in the report. Other information like a settled account stays on the report for 7 years. It is important to mention over here that more recent information impacts the score more than older information.

So hopefully this information has helped you in getting a better understanding about credit score, however if you still have a few doubts please do hare them with us.

Finding a mistake on credit report can be frustrating. Learn How to deal?

The world runs on the basis of information. Information is everything, what makes an individual powerful is information. Similarly you might be having lots of information about different topics in your life. Some may have information about a new web series to be released or someone might be having information about the latest vehicle which is going on sale next Friday. What makes an individual truly powerful is when the person holds information about finances and how to deal with it. The world revolves around finance and finance is really a vast topic to discuss.

One of the topics which is gaining traction is a credit score. A credit score is nothing but a financial representation of yours in from of your lenders. A good credit score can get you a financial product like a loan or a credit card in no time at all. All you need to do is pull up your free credit report and see how you are doing and keep up the good work. Many a times while checking your report, you see unusual transactions and are in doubt if the transactions are yours? Those transactions can be mistakes done from the credit bureau’s side and you can easily report it and get it fixed.

For a lot of us, we do not have time to check this report and after checking we do not have time to raise a dispute thinking it will be time consuming and frustrating.

Today, we will sight you some simple and easy steps while considering raising a dispute,

  1. Check your credit report from time to time

A lot of us make this mistake of checking our cibil report only when you are applying for a loan or a financial product. You should stop this practice and consider checking your report at least twice a year. You can pull up your report and check it for free and also this would not be considered as a hard inquiry as the report is requested by you.

  1. Check and mark up errors on your report

The next thing you do is, if you find any error on your report highlight the same and raise a dispute towards that transaction at the bureau. You will have t make a proper report justifying why you think it is an error from the bureau’s side and attach all the possible transactional details to support your claim.

  1. Raise different disputes

If there are multiple errors on the cibil report, raise different disputes for different errors. This way you will have multiple people working on your mandate and can expect your work to be done in an efficient and faster way.

  1. Have patience

Once you have raised a dispute, you cannot expect things to happen on a fast pace. Credit bureaus take time to investigate each dispute and it takes a lot of time to reach the conclusion as there are many factors to consider towards the dispute.

  1. Don’t take no as an answer

The credit bureaus with taking a lot of time can also come up with a conclusion which will state that the dispute is been barred and the transaction status remain the same. Do not give up; raise a dispute again if you think the judgment is not in your favor.

  1. See if the error is been resolved

Even if you have won the dispute, you will have to recheck and monitor if the credit score has gone up after the dispute. It should not show a low cibil score after you have won the dispute.

Credit disputes can be frustrating and takes a lot of time of yours. What’s important here is that you get to raise your credit score and it can help you get a speedy loan when needed.

Finding a mistake on credit report can be frustrating. Learn How to deal?

The world runs on the basis of information. Information is everything, what makes an individual powerful is information. Similarly, you might be having lots of information about different topics in your life. Some may have information about a new web series to be released or someone might be having information about the latest vehicle which is going on sale next Friday. What makes an individual truly powerful is when the person holds information about finances and how to deal with it. The world revolves around finance and finance is really a vast topic to discuss.

One of the topics which is gaining traction is a credit score. A credit score is nothing but a financial representation of yours in from of your lenders. A good credit score can get you a financial product like a loan or a credit card in no time at all. All you need to do is pull up your free credit report and see how you are doing and keep up the good work. Many a times while checking your report, you see unusual transactions and are in doubt if the transactions are yours? Those transactions can be mistakes done from the credit bureau’s side and you can easily report it and get it fixed.

For a lot of us, we do not have time to check this report and after checking we do not have time to raise a dispute thinking it will be time consuming and frustrating.

Today, we will sight you some simple and easy steps while considering raising a dispute,

  1. Check your credit report from time to time

A lot of us make this mistake of checking our cibil report only when you are applying for a loan or a financial product. You should stop this practice and consider checking your report at least twice a year. You can pull up your report and check it for free and also this would not be considered as a hard inquiry as the report is requested by you.

2. Check and mark up errors on your report

The next thing you do is, if you find any error on your report highlight the same and raise a dispute towards that transaction at the bureau. You will have t make a proper report justifying why you think it is an error from the bureau’s side and attach all the possible transactional details to support your claim.

3. Raise different disputes

If there are multiple errors on the cibil report, raise different disputes for different errors. This way you will have multiple people working on your mandate and can expect your work to be done in an efficient and faster way.

4. Have patience

Once you have raised a dispute, you cannot expect things to happen on a fast pace. Credit bureaus take time to investigate each dispute and it takes a lot of time to reach the conclusion as there are many factors to consider towards the dispute.

5. Don’t take no as an answer

The credit bureaus with taking a lot of time can also come up with a conclusion which will state that the dispute is been barred and the transaction status remain the same. Do not give up; raise a dispute again if you think the judgment is not in your favor.

6. See if the error is been resolved

Even if you have won the dispute, you will have to recheck and monitor if the credit score has gone up after the dispute. It should not show a low cibil score after you have won the dispute.

Credit disputes can be frustrating and takes a lot of time of yours. What’s important here is that you get to raise your credit score and it can help you get a speedy loan when needed.