What Are The Best Ways To Build Up My Credit Score?

What Are The Best Ways To Build Up My Credit Score?

The credit score is something that determines how trustworthy you are to a lender. The market works on speculation. When it comes to lending money, lenders take care of the previous dents and the history of repayment to gauge the authenticity and credibility of the borrower. A low credit score indicates poor payment history, discouraging the lenders from offering loans. For tips to improve your credit score, you can consult with the experts of Credit Triangle. 

Benefits of Having a High Credit Score

A high credit score can help you get the loans effortlessly. Another advantage of having a high credit score is that the lenders charge a lower rate of interest for the same amount of loan. For example, if you have a poor credit score, a loan worth Rs. 100000 would cost you more than someone with a high credit score. 

Also, with a high credit score, your authenticity as a consumer gets established. If you have a good score, the lenders will always give you approval for your loan. On the other hand, a low credit score might not allow you to get the entire sum you intend to borrow. 

A good credit score empowers you with better negotiation power while borrowing money. No matter what you are purchasing, getting a loan for the same becomes easier with a high credit score. 

Pay Bills on Time

Loaning funds does not hamper your credit score, not paying the interest and dues on time does. If you think your amount of loan is pulling your credit score down, you need to change your perception. No matter the volume of the loaned sum, if you are paying the dues in time, there is no reason for your credit score to suffer in any way. 

If you miss out on a payment by 30 days or more, your credit score is more likely to get impacted adversely. If you have multiple loans running at the same time, the best would be to keep a record of all the dues along with their respective dates of payment to negate the chances of any miss-out. Maintaining a routine for payments can improve your credit score. 

Pay Frequently


Much like payment history, credit utilisation is another factor that immensely influences your credit score. With frequent payments, you can influence credit utilisation, making your overall credit score better. The idea is to make short payments, often called micropayments, throughout a month to keep the credit card balance managed. 

It can also help you avoid the sudden drainage of a substantial amount of money from your account at a time. Spreading the entire payment over a month never leaves your account completely dry. Hence, frequent payment can be a smart financial choice to manage your accounts and keep your credit score high. 

Rectify Credit Report Errors

If you have wrong entries in your credit report, your credit score will go down regardless of how religiously you pay the dues in time. Make sure that your credit report does not have any discrepancies reading any attribute to keep your credit score maintained. 

If you find any issue with your credit report, address the same immediately to get it rectified. Your reluctance or negligence in correcting the errors on your credit report will ultimately cost you your credit score. 

Get a Higher Credit Limit

To improve your credit score, a higher credit limit can always help you. A higher credit limit follows the cardinal rule of the numerator denominator relationship, turning the effective ratio of the credit limit and the outstanding balance low. 

Here, the credit limit acts as the denominator and the outstanding balance as the numerator. Hence, the higher the denominator becomes, the decrease in the ratio can be seen, given the same outstanding balance. An income appreciation or a prolonged history of good credit scores can allow you to higher your credit limit. 

Use Secured Credit Cards

Using a secure credit card can be one of the best ways to improve your credit score. Credit cards that come with security deposits can be a safer choice at any time. With a transparent mode of operation and easy to trace payments, these credit cards always keep you updated regarding the payment options. If you wish to increase your credit score, choose a secure credit card today. 

Authorised Use

If a friend of yours or a relative has a credit card with a considerable history and sound score, you can request to be an authorised user. For allowing you to be an authorised user, they do not have to allow you access to the account number or any other specifications. If you have a short credit history, adding such authorised use can improve your credit status considerably.  

Maintain a Mix

Having only a credit card or a loan can be less helpful in improving your credit score; the best way to improve your credit score would be to maintain a mix of both revolving credit and instalment accounts. Your cumulative credit worthiness will only improve if you could manage both varieties intelligently. You can also seek the help of the service providers like Credit Triangle to understand the “modus operandi” involved in credit score determination. 

Keep the Credit Cards Open

You might think that removing the cause of a low credit score can be a way to improve your credit score. In reality, when you close a credit card, you also remove the credit limit from the credit utilisation calculations. Hence, your lower credit score dips further, reaching a bottleneck. The best would be to keep the credit cards open to allow the limits of each card to influence your overall credit score.  Make sure to do the right things to keep your credit score high. If you have a low one and intend to improve it, consult with the experts and professionals to know how. Your credit card can be your guarantee card for getting loans at the right and even lower rates of interest in the future.