How to improve CIBIL score from 710

[Shrinit Padwal]

Recently I checked with one of my friends, he was unaware what CIBIL is, why does it matter, etc. We checked his score - was 710.
He had a credit card in 2019 - closed in 2020(used for 10 months). From then no credit cards and loans was applied or used. No default payments or pending balances.
What all ways can I suggest to improve CIBIL score from 710? Can he get a FD card now?
What would be fastest way to increase it to 750+

 

[drakesri]

He can apply for a CC or Loan and make sure that CC is used regularly (Upto 30% of CL) and all payments are cleared before the due date. Same for EMI of loans. This will have a positive impact on the credit score.

 

[Venky]

Secured credit card or an addon credit card for 6-8 months will help.

 

[vikasr94]

If he is salaried then he has to apply for a card then use it. He can try getting an OneCard which typically has higher approval changes or as suggested above he can try getting a Secured credit card but I am not sure about Add-on Card.

I had got a add-on card to my sister who is currently a student to see if her CIBIL score moves up but so far no changes.

 

[Venky]

I had got a add-on card to my sister who is currently a student to see if her CIBIL score moves up but so far no changes.

I am not sure if your bank reports the addon to Cibil or not but I can assure you it does show up on the PAN and improves your cibil (for some cards at least). The first credit card I had was an Amex and they were the only CC I had for a year, 2 add-on’s and they created my cibil and before I got my own first card my cibil was at 780.

 

[vikasr94]

I am not sure if your bank reports the addon to Cibil or not but I can assure you it does show up on the PAN and improves your cibil (for some cards at least). The first credit card I had was an Amex and they were the only CC I had for a year, 2 add-on’s and they created my cibil and before I got my own first card my cibil was at 780.

got it, let me check my Sister's CIBIL again.

 

[Pankhuri]

got it, let me check my Sister's CIBIL again.

Any update? Thinking of doing same for my brother but not sure if this add-on appear on the cibil report or if it would improve his score.

 

[Cardmarvel]

What I can tell from my own experience, icici reports add-on card to the Cibil of add-on holder, but Hdfc does not.

 

[Pankhuri]

What I can tell from my own experience, icici reports add-on card to the Cibil of add-on holder, but Hdfc does not.

Any idea about Indusind too?

 

[pra1968]

Recently I checked with one of my friends, he was unaware what CIBIL is, why does it matter, etc. We checked his score - was 710.
He had a credit card in 2019 - closed in 2020(used for 10 months). From then no credit cards and loans was applied or used. No default payments or pending balances.
What all ways can I suggest to improve CIBIL score from 710? Can he get a FD card now?
What would be fastest way to increase it to 750+

Take consumer loan frm Bajaj finance and paid emi regularly.......
You will see fast increase in Cibil

 

[4uziaul]

Take consumer loan frm Bajaj finance and paid emi regularly.......
You will see fast increase in Cibil

Are you from Bajaj Finance 🤣 why are suggesting the OP to take a consumer loan when there is no such requirement.

 

[pra1968]

No I m not....
But it's my experience 👍

Are you from Bajaj Finance 🤣 why are suggesting the OP to take a consumer loan when there is no such requirement.

 

[4uziaul]

No I m not....
But it's my experience 👍

Giving wrong information sometimes does more harm than any good and there are other ways to improve CIBIL, just need to be patient when it comes to improving CIBIL.

 

[Cardmarvel]

Any idea about Indusind too?

Sorry, no idea

 

[Tejo]

Recently I checked with one of my friends, he was unaware what CIBIL is, why does it matter, etc. We checked his score - was 710.
He had a credit card in 2019 - closed in 2020(used for 10 months). From then no credit cards and loans was applied or used. No default payments or pending balances.
What all ways can I suggest to improve CIBIL score from 710? Can he get a FD card now?
What would be fastest way to increase it to 750+

stay away from paylaters and nbfc loans

apply for cc on fd make sure the fd amount is not too small as it could affect in future.

spend as much as can and pay before bill generation date leaving leaving 1% of limit.

paying that remaining 1% limit before due date

like this you should follow, if cibil doesnt increase, then change 1%-30%

 

[vikasr94]

Any update? Thinking of doing same for my brother but not sure if this add-on appear on the cibil report or if it would improve his score.

let me check