Raising your credit score


Before beginning the search for a loan, it is important to know what kind of credit score a person is working with. Never assume a potential creditor is being completely honest about the status of a person’s credit score. Pulling a credit report is also an excellent opportunity to check for any discrepancies that could be unnecessarily bringing a score down by several points.
It is important every consumer takes time to shop around for bad credit car loans. Going in with the attitude that any loan will do is detrimental and could end up costing thousands of dollars in the long run. Never take the first loan offered until after checking around and comparing rates.


Hi madamemoneylady,

Thanks for the information. Paying off your Credit Card balance is one of the simplest ways to increase your Credit Score quickly. Your payment history makes up 35% of your Credit Score (that’s the biggest one!). Under this head, the way you use credit plays a major part. If you use minimal credit, then you get a high score. Credit Bureaus don’t bother about whether you have a high credit limit or a low one. They take into account how much of that credit you use. In other words, they are interested in your credit utilisation ratio. This ratio is the amount of credit you use when compared to the credit available to you.

For instance, if you have a credit limit of Rs. 75,000 and your Credit Card balance is Rs.40,000, your credit utilisation ratio will be 53%, which is considered high. Typically, experts recommend that you maintain a ratio of less than 25%. Now, if you can bring this down to zero, then your Credit Score will improve drastically. Even if you are unable to pay the entire balance, try and pay off at least 20-30% and your Credit Score is sure to improve immediately. Here’s a tip. Split up your Credit Card bill and pay it twice a month. That way credit bureaus will know that you have every intention of paying your Credit Card dues and your credit utilisation ratio also goes down.

Want to check your Credit Score for free? Click here.

BB Expert


Most of the time people can’t get any loan because of their bad credit. In today world credit it very popular in business persons. And you must have to be clear your all credits before applying any loan. But there is also a solution of getting laons even if you have bad credit. Just try to contact to credit repair services and get any kind of loans.