Credit point: 5 Master tips that can help you maintain an impressive score | Mint

A high creditworthiness is important for customers to negotiate better loan conditions with the lender, including lower interest rate, long term and high amont. There are opportunities when an investor regularly does his credit card account on time, still struggling to improve the score. In addition, there may be times when improving the score is completely not related to paying payment. Here we give some valuable tips, which are nothing less than master’s staff, which can help you improve your creditworthiness: Improve your creditworthiness: Follow these masterwing I. Maintain a healthy credit mix: First, you must ensure that you maintain a healthy credit mixture. This means rather than depending on one form of borrowing, says credit card, you can maintain a healthy credit mix, ie loan, credit card and overdraft and others. However, it is extremely important to note that taking a loan should be a last resort and not the first option. Ii. Use less of your card: There is another kind of master’s stick – with less than 30 percent of the credit limit to maintain a good creditworthiness. Remember that the ideal CUR (credit consumption ratio) is 30 percent. Iii. Are there mistakes? Another important point to remember is to detect any errors in your credit report so that you correct it. There may be some errors in your credit report that you were unaware of. It is important to correct them. Iv. Keep an extra credit card: To keep an extra credit card – even if you don’t use, it helps you push your credit limit higher, and credit utilization lower. However, make sure it does not have a high processing fee. Q. Say “No” to minimum payment: Some credit card users find it tempting to pay the minimum payment of credit card account. If you want to maintain a good credit rating, you should avoid this practice to pay your account. Disclaimer: Mint has a fusion with fintechs to provide credit, you must share your information if you apply. These bonds do not affect our editorial content. This article only intends to educate and distribute awareness about credit needs such as loans, credit cards and creditworthiness. Mint does not promote or encourage credit because it comes with a set of risks such as high interest rates, hidden costs, etc. We advise investors to discuss with certified experts before taking credit. First published: 15 Apr 2025, 08:21 pm Ist