That's great to know that you always make payment in full. There are many factors included in getting your score 800+ but you need to do the same process for sometime as you don't have any secured loan like house loan which also increases your score.
If it's secured, then it's a good loan... it will have long term positive impact.
No... don't force yourself for a loan in any condition
will taking a Secured CC will be displayed as Secure Loan in CS?
Yes... but not all banks report secure card as secured credit card ac to cibil.
Even I'm at 792 CIBIL.. Utilization as per OneScore/Cibil is usually 25-30%, credit history 6-7 yrs & all on time payments etc. Ran their simulators & it shows increase to 800+ only in case of availing home loan/vehicle loan etc 🙂 Besides that don't know if other tips/tricks are sure shots to work
Golden rule- don't push yourself for a secured loan just because of boosting cibil score
Yes. Luckily have been loan free in my life so far.. so am happy about it & want to keep it so. Will let the CIBIL score take its own journey basis disciplined repayment, credit behaviour etc.. Rest I think 750/770+ is a good enough score & beyond that one shouldn't take CIBIL score too seriously or be too obsessed with it.
Absolutely... 770+ score is more than enough.
Never push yourself for a loan... get a secured credit card instead
Overdraft on FD is not considered secured in cibil or any bureau. It is treated as current account itself which is unsecured. Also if u take hdfc fd od they show ur account balance in it as negative, which means if u have higher balance than Overdraft in ur saving account then in cibil current balance becomes negative equivalent to ur account balance. Consider icici od or any other . But anyway there is no secured OD in cibil.
