How to improve your credit score?

A credit score is the report card of your financial transactions. From personal loans to credit card bills, your track record is demonstrated with a three-digit score. If the score is poor, then you will have trouble taking a loan from the bank or financial institution going forward. The Money9 Helpline hosted Rachit Chawla, Founder, Finway FSC to explain how to build a strong credit score and improve it over time.

Edited excerpts:

Shravan Kumar Singh: My credit score has always been 800+ in Experian. Recently I came to know that in CIBIL, in my details there is some wrong information and the score shows only 500+. How to rectify this?

Chawla: So you should write an email to customer support at CIBIL. They are very prompt and active and they will rectify it. If you have an experian report, attach the document in the mail, they will rectify it. So it is important to check your scores on a timely basis, because there may be chances that mistakes happen from the side of financial institutions. All the email ids are mentioned on Credit bureau websites. There will be a coloum also on consumer grievance, where your grievance can be addressed.

Watch the full video…